Fine Organics IPO

Business description – Fine Organics is the largest manufacturer of oleochemical-based additives in India and a strong player globally in this industry. The company produces a wide range of specialty plant derived oleochemicals-based additives used in the food, plastic, cosmetics, paint, ink, coatings and other specialty application in various industries. As at December 31, 2017, it had a range of 387 different products sold under the ‘Fine Organics’ brand. It is the first company to introduce slip additives in India and is the largest producer of slip additives in the world.

In the 12 months ended December 31, 2017, the company had 603 direct customers and 127 distributors from 67 countries. Its direct customers are multinational, regional and local players manufacturing consumer products, such as Hindustan Unilever and Parle Products, and petrochemical companies and polymer producers globally. Its plastics additives and specialty additives are also used in the packaging of foods and other fast moving consumer goods. The company currently has three production facilities: one in Ambernath (Maharashtra); one in Badlapur (Maharashtra); and one in Dombivli (Maharashtra). As at December 31, 2017, these three facilities have a combined installed capacity of approximately 64,300 tonnes per annum.

Promoters of Fine Organics – Prakash Damodar Kamat, Mukesh Maganlal Shah, Jyotsna Ramesh Shah, Jayen Ramesh Shah, Tushar Ramesh Shah and Bimal Mukesh Shah
Fine Organics IPO details
Subscription Dates 20 – 22 June 2018
Price Band INR780 – 783 per share
Fresh issue Nil
Offer For Sale 7,664,994 shares (INR597.9 – 600.2 crore)
Total IPO size 7,664,994 shares (INR597.9 – 600.2 crore)
Minimum bid (lot size) 19 shares
Face Value INR5 per share
Retail Allocation 35%
Listing On NSE, BSE
Fine Organics’ financial performance (in INR crore)
FY2013 FY2014 FY2015 FY2016 FY2017 9M FY2018
Total revenues 497.5 574.2 616.5 667.7 792.7 594.7
Total expenses 466.6 479.6 530.9 550.8 671.8 500.2
Profit after tax 20.9 61.7 57.1 76.2 77.7 58.5
Net margin (%) 4.2 10.7 9.3 11.4 9.8 9.8

Fine Organic Industries Contact Details

Fine Organic Industries Limited
Fine House, Anandji Lane
Ghatkopar (East)
Mumbai 400 077

Phone: +91 22 2102 5000
Fax:
+91 22 2102 8899
Email:
investors@fineorganics.com
Website: www.fineorganics.com

Registrar of Fine Organics IPO

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

Phone: +91 40 6716 2222
Fax:
+91 40 2343 1551
Email:
foil.ipo@karvy.com
Website: www.karvycomputershare.com

Valuation of Fine Organics (Based on latest FY)

Earnings Per Share (EPS): INR25.33

Price/Earnings (P/E) ratio: 30.79 – 30.91

Return on Net Worth (RONW): 26.51%

Net Asset Value (NAV): INR95.57 per share

Fine Organics IPO Subscription Details

Category Shares offered Subscription (no. of times, at 5 pm)
Day 1 Day 2 Day 3
QIB 1,532,999 0.17 0.64 12.86
NII 1,149,750 0.00 0.04 21.01
Retail 2,682,748 0.12 0.40 1.18
Total 5,365,497 0.12 0.39 8.76

Fine Organics IPO Allotment Status

Fine Organics IPO allotment status is now available on Karvy Computershare’s website. Click on this link to get allotment status.

Listing Performance of Fine Organic Industries

IPO Opening Date: 20 June 2018

IPO Closing Date: 22 June 2018

Finalisation of Basis of Allotment: 27 June 2018

Initiation of refunds: 28 June 2018

Transfer of shares to demat accounts: 28 June 2018

Listing Date: 2 July 2018

Listing Price on NSE: INR815 per share (up 4.09% from IPO price)

Closing Price on NSE: INR822.8 per share (up 5.08% from IPO price)

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