Nitiraj Engineers IPO

Nitiraj Engineers IPO

 

Nitiraj Engineers IPO

Nitiraj Engineers is engaged in the manufacture and sale of wide range of Electronic Weighing Scales and Systems, Currency Counting Machines and Electronic Fare Meters. Its product portfolio range caters to both industrial and domestic consumption. Nitiraj Engineers is an ISO 9001:2008 certified company and produces more than 100,000 Scales per year and has more than one million customers. Its products are manufactured at the manufacturing unit located at Parwanoo, Himachal Pradesh. The company also has manufacturing facility at Silvassa, UT which is not under active use currently. The company supplies its products under the Phoenix brand.

Promoters of Nitiraj Engineers – Rajesh Raghunath Bhatwal 

Nitiraj Engineers IPO details

Subscription Dates20 Feb - 1 Mar 2017
IPO Price bandINR100 per share
Fresh issue 2,200,800 shares (INR22 crore)
Offer for sale Nil
Total IPO size2,200,800 shares (INR22 crore)
Minimum bid (lot size)1,200 shares
Face Value INR10 per share
Retail Allocation50%
Listing OnNSE Emerge (SME platform)

 

Nitiraj Engineers' financial performance (in INR crore)

FY2012FY2013FY2014FY2015FY2016
Total revenue

29.0

28.741.243.9

56.6

Total expenses

24.5

26.235.337.4

47.8

Profit after tax

2.81.23.94.2

5.5

 

Day

Subscription (no. of times)

Day 1

 0.37

Day 2

 0.41

Day 3

 0.47

Day 4

 0.59

 Day 5

 0.65

 Day 6

 0.71

 Day 7

 1.36

Nitiraj Engineers Limited
City Survey No. 496 A/3, 4 Behind Gurudwara, Mumbai-Agra Road
Dhule 424 001

Phone: +91 2562 239 080
Email: [email protected]
Website: www.nitiraj.net

Bigshare Services Private Limited 
E2, Ansa Industrial Estate, Sakivihar Road,
Sakinaka, Andheri (E),
Mumbai – 400 072

Phone: +91 22 4043 0200 
Fax:
+91 22 2847 5201
Email:
[email protected]
Website: www.bigshareonline.com

Nitiraj Engineers IPO allotment status is now available on Bigshare Services Private Limited website. Click on this link to get allotment status.

IPO Opening Date: 20 February 2017

IPO Closing Date:  1 March 2017

Listing Date: 9 March 2017

Listing Price on NSE SME: INR97 per share (discount of 3% on IPO price)

Closing Price on NSE SME: INR94.5 per share (discount of 5.5% on IPO price)

5 thoughts on “Nitiraj Engineers IPO

  • March 9, 2017 at 9:46 AM
    Permalink

    Nitiraj opened lower as I was expecting. sunk to 91 after listing at 97. sell now and get out if anyone got trapped

    Reply
  • February 27, 2017 at 11:45 PM
    Permalink

    Seems 100 is too high for a small cap with the overall profit of 5.5 C , not very comfortable personally. Trad receivables really is not a point to consider as it is just 20 c. personal opinion

    Reply
  • February 22, 2017 at 5:05 AM
    Permalink

    Nitiraj had EPS of 9.17 in 2016 so PE ratio is 10.9. But for profit of 5.5 crore, they have trade receivables from promoters of nearly 20 crore. In other words, this is interest free loan to promoters! Not looking good

    Reply
    • February 24, 2017 at 4:34 PM
      Permalink

      Sir, trade receivables are not from the promoters. They are actual receivables of the business, so there is no question of any interest free loan to the promoters.

      Reply

Leave a Reply

Your email address will not be published. Required fields are marked *