Manorama Industries IPO overview – Manorama Industries is engaged in manufacturing, processing and supply of exotic and specialty fats & oils like Sal butter, Sal fat, Sal oil, Sal Stearine, Sal olein, Mango butter, Mango fat, Mango oil, Mango Stearine, Kokum butter, Kokum oil, Mowrah fat, and several value added tailor made products. Currently, it is among the leading manufacturers of Sal Oils and Stearine globally with an annual production of 3,000-4,000 tonnes. Last year, the company produced 908 tonnes of Stearine resulting into approximately 1% global market share. Globally, it is amongst the top 10 manufacturers of Stearine.
The company caters to chocolate and cosmetic industry. Its product stearine which is made out of sal or mango seeds is one of the key ingredients in the manufacturing of Cocoa Butter Equivalents (CBE), which has a demand in the Chocolate Industry. Further its product olein is generally demanded in cosmetic industry. Its products also serve as a non-palm oil ingredient as there is movement against usage of palm oil in many western countries.
Manorama Industries has also entered into an agreement with one of the leading chocolate manufacturers for supply of CBE for a period of two year from 2018. As on date of the DRHP, it has an order book to supply CBE worth INR7680.00 lakhs over a period of two years from April 2018.
Promoters of Manorama Industries – Vinita Saraf
| Manorama Industries IPO details | |
| Subscription Dates | 21 – 25 September 2018 |
| IPO Price band | INR181 – 188 per share |
| Fresh issue | 3,404,400 shares (INR61.62 – 64.00 crore) |
| Offer for sale | Nil |
| Total IPO size | 3,404,400 shares (INR61.62 – 64.00 crore) |
| Minimum bid (lot size) | 600 shares |
| Face Value | INR10 per share |
| Retail Allocation | 35% |
| Listing On | BSE SME platform |
Use of funds
- Establishing an integrated greenfield project for manufacturing of CBE / specialty fats and tailormade products at Birkoni, near Raipur – INR56 crore
- General Corporate Purpose
- Issue Expenses
| Manorama Industries’ financial performance (in INR crore) | ||||||
| FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | ||
| Total revenue | 105.3 | 133.4 | 131.7 | 146.4 | 221.9 | |
| Total expenses | 104.1 | 132.0 | 130.0 | 144.3 | 206.0 | |
| Profit after tax | 0.90 | 0.94 | 1.08 | 1.38 | 10.36 | |
Manorama Industries’ Contact Details
Manorama Industries Limited
F-6, Anupam Nagar
Behind Ganesh Mandir, Raipur
Chhattisgarh- 492001
Phone: +91 022 67088148
Email: [email protected]
Website: www.manoramagroup.co.in
Manorama Industries IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 0.19 |
| Day 2 | 0.42 |
| Day 3 | 1.02 |
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Manorama Industries Valuation (For FY2018)
Earnings Per Share (EPS): INR13.72
Price/Earnings (P/E) ratio: 13.19 – 13.70
Return on Net Worth (RONW): 41.89%
Net Asset Value (NAV): INR32.75 per share
Registrar of Manorama Industries IPO
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email:Â [email protected]
Website:Â http://www.linkintime.co.in
Manorama Industries IPO Allotment Status
Manorama Industries IPO allotment status is now available on Link Intime’s website. Click on this link to get allotment status.
Listing performance of Manorama Industries
IPO Opening Date: 21 September 2018
IPO Closing Date: 25 September 2018
Listing Date: 4 October 2018
Listing Price on BSE SME: INR190.20 per share (up 1.17% from IPO price)
Closing Price on BSE SME: INR190 per share (up 1.06% from IPO price)
