Sheetal Cool Products IPO

Sheetal Cool Products IPO

Business description from prospectus – Sheetal Cool Products is currently involved in producing and processing of milk and milk products, snacks and bakery items. It sells its products under the brand name “Sheetal” to a number of distributors and super stockists.

Currently, the company has a manufacturing unit spread over an area admeasuring around 5314.66 square meters (approximately) at Amreli, Gujarat and its registered office is also situated at the same location. The unit is well equipped with wide range of machineries and other handling equipment to facilitate smooth manufacturing process.

As on date of this Prospectus, the company has employed 22 employees (including skilled, semi-skilled) and 275 personnel on contract basis. Sheetal Cool Products is ISO 22000:2005 & ISO 9001:2015 certified in respect of manufacturing of Ice-cream, milk & milk products, mango ras, lassi, curd, flavoured milk, masko, wafers, namkeen, fryums and bakery products.

Promoters of Sheetal Cool Products – Bhupatbhai D Bhuva, Dinesh Kumar D Bhuva, Sanjay D Bhuva, Naynaben B Bhuva, Kajalben D Bhuva and Asmitaben S Bhuva

Sheetal Cool Products IPO details

Subscription Dates 16 – 18 October 2017
IPO Price band INR80 per share
Fresh issue 3,000,000 shares (INR24 crore)
Offer for sale Nil
Total IPO size 3,000,000 shares (INR24 crore)
Minimum bid (lot size) 1,600 shares
Face Value  INR10 per share
Retail Allocation 50%
Listing On BSE SME platform

Sheetal Cool Products’ financial performance (in INR crore)

FY2014 FY2015 FY2016 FY2017 Q1 FY2018
Total revenue 6.4 44.9 125.3 154.6 49.3
Total expenses 7.0 44.9 122.9 151.5 48.5
Profit after tax -1.0 0.1 2.0 2.1 0.6

Sheetal Cool Products Limited
Plot No. 78-79-80
Amreli-365601, Gujarat

Phone: +91 79 2642 1701
Email: [email protected]


Subscription (no. of times)

Day 1 0.49
Day 2 1.79
Day 3 31.38


Earnings Per Share (EPS): INR4.12

Price/Earnings (P/E) ratio: 19.42

Return on Net Worth (RONW): 25.15%

Net Asset Value (NAV): INR16.37 per share

Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana

Phone: +91 40 6716 2222 
 +91 40 2343 1551 
[email protected]

Sheetal Cool Products IPO allotment status is now available on Karvy Computershare’s website. Click on this link to get allotment status.

IPO Opening Date: 16 October 2017

IPO Closing Date: 18 October 2017

Listing Date: 30 October 2017

Listing Price on BSE SME: INR96 per share (up 20% from IPO price)

Closing Price on BSE SME: INR86.6 per share (up 8.25% from IPO price)



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