IPO Details
Bidding Dates
24 Sep '23 - 26 Sep '23
Minimum Investment
₹116,400 / 1 Lots ( 1200 Shares )
Price Range
₹92 – ₹97
Maximum Investment
₹116,400 / 1 Lots ( 1200 Shares )
Retail Discount
Not Applicable
Issue Size
₹45.16 Cr
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investor |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Sep 24, 2023
IPO Closing Date
Sep 26, 2023
Basis of Allotment
Oct 2, 2023
Initiation of Refunds
Oct 3, 2023
Credit of Shares to Demat Account
Oct 4, 2023
IPO Listing Date
Oct 5, 2023
Cut-off time for UPI mandate confirmation
Sep 26, 2023
Saakshi Medtech and Panels IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Sep 24, 2023 |
2.00 | 1.28 | 2.51 | 2.10 |
Day 2Sep 25, 2023 |
2.00 | 3.46 | 10.57 | 6.60 |
Saakshi Medtech and Panels IPO Subscription Live Status
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyers | 2.00 |
| Non-Institutional Buyers | 3.46 |
| Retail Investors | 10.57 |
| Total | 6.60 |
About Saakshi Medtech and Panels Ltd.
Founded in 2001, Saakshi Medtech and Panels Private Limited is involved in the creation, coding, and assembly of electrical control panels and cabinets. These encompass microcontrollers, programmable logic controllers, and SCADA (Supervisory Control And Data Acquisition) systems.
The company manufactures:
- Electrical control panels and cabinets - utilised in various sectors such as elevators, air compressors, renewable energy, oil & gas exploration, and electric vehicle charging stations.
- Medical X-ray systems - employed in the healthcare sector.
- Fabrication services - used for locomotives.
- Electrical control panel components - produced under the wire harness division are- supplied to the air compressor industry.
Saakshi Medtech and Panels has three manufacturing facilities spanning approximately 9,600 sq mtr in Pune, Maharashtra.
For the period ending December 31, 2022, the company reported revenue from operations amounting to ₹8,723.00 lakh, while the fiscal year 2022 saw ₹9,157.78 lakh in revenue, and fiscal year 2021 recorded ₹5,977.39 lakh.
Saakshi Medtech and Panels Limited IPO Details
Saakshi Medtech and Panels Limited IPO Date
The IPO of Saakshi Medtech and Panels Limited is scheduled to commence its subscription period on September 25, 2023, and will run until September 27, 2023.
Saakshi Medtech and Panels Limited IPO's Price Band
Saakshi Medtech and Panels Limited’s IPO is a fresh issue IPO of ₹45.16 crore. It is a book-building issue. The price range is set to ₹92 to ₹97 per share.
Saakshi Medtech and Panels Limited IPO’s Lot Size
The lot size for Saakshi Medtech and Panels Limited’s IPO is 1,200 shares with a minimum investment of ₹1,16,400.
Saakshi Medtech and Panels Limited IPO’s Objectives
The intended utilisation of Saakshi Medtech and Panels Limited’s IPO is outlined as follows:
- Allocation for capital investment in civil construction within the current facilities of factory unit II.
- Full or partial settlement of specific outstanding corporate debts.
- Allocations for capital expenditure concerning the augmentation of machinery and plant infrastructure.
- Provision for addressing working capital needs.
- General corporate objectives.
How To Check the Allotment Status of Saakshi Medtech and Panels Limited’s IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- As such, Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Saakshi Medtech and Panels Limited
Registered office: Plot No. EL-23, J Block, MIDC Industrial Area, Bhosari, Pune- 411026, Maharashtra, India.
Contact Person: Shweta Pursnani (Company Secretary and Compliance Officer)
Phone: +91- 02039854400
E-mail: info@smtpl.co
Saakshi Medtech and Panels Company Financials
| Financial year | Total InYear ending on December 31, 2022**come ( ₹ in lakh ) | Year ending on March 31, 2022 ( ₹ in lakh ) | Year ending on March 31, 2021 ( ₹ in lakh ) |
|---|---|---|---|
| Revenue | 8,723.00 | 9,157.78 | 5,977.39 |
| Sales Growth (%) | NA* | 34.72% | NA* |
| EBITDA Margin (%) | 15.81% | 16.89% | 9.56% |
| Profit After Tax (PAT) | 820.76 | 932.21 | 210.49 |
| PAT Margin (%) | 9.41% | 10.18% | 3.52% |
| Total Borrowings | 2,160.70 | 1,635.78 | 2,199.44 |
| Cash & Cash Equivalents | 370.92 | 130.27 | 276.54 |
| Return on Capital Employed (RoCE) (%) | 20.30%* | 30.25% | 10.59% |
| Earning Per Share (EPS) in absolute ₹ | 6.31 * | 7.17 | 1.62 |
Know before investing
Strengths
3-
Saakshi Medtech and Panels Limited (SMTPL) has shown impressive financial growth, with an EBITDA of 15.81%, Debt/Equity Ratio of 1.08x, Return on Capital Employed of 30.25% and a Reserve of ₹3,964.07 lakh in 2023. These figures indicate the company's profitability, efficiency, and ability to generate shareholder returns.
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The Indian medical device industry has been experiencing a steady climb, as evidenced by the performance of the Nifty Healthcare Index, which includes stocks of India's largest medical device companies. Saakshi Medtech's IPO comes when the industry is expected to continue growing, presenting a favourable market for the company.
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The company has entered into a long-term supply agreement with OTIS Elevator Company (India) Ltd for the supply of electrical control panels for controlling lift movement, valid up to June 30, 2024. Along with that, it supplies SCADA systems and panels to various industries.
Risks
3-
In the fiscal years 2020, 2021, and 2022, the company’s top five customers contributed 86.46%, 90.57%, and 90.45% of its revenue, respectively, with the most recent year, ending on December 31, 2022, seeing their contribution increase to 93.54%. The loss of these customers or a loss of revenue from sales to these customers may materially affect their business, financial condition, results of operations and cash flows.
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As of December 31, 2022, the company had unsecured loans totalling ₹39.27 lakh owed to its promoters, which could be requested for repayment at any time. If the promoters do ask for repayment, the company will have to secure alternative financing to cover the outstanding balance.
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Compliance is a major concern in healthcare, especially with the 2023 National Medical Device Policy in India. This policy aims to transform the country's medical devices industry into a competitive, self-reliant, and innovative sector that serves both domestic and global healthcare needs. The regulations for compliance have become stricter under this policy, and companies like Saakshi Medtech could face consequences if they don't meet these new requirements.
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Saakshi Medtech and Panels IPO FAQs
Saakshi Medtech and Panels Limited IPO is a fresh issue of ₹45.16 Crore. It is a book-building issue.
The Saakshi Medtech and Panels Limited’s shares will be allotted on October 3, 2023.
The IPO subscription window for Saakshi Medtech and Panels Limited will open on September 25, 2023.
Retail investors can apply for a minimum of one lot, which is a size of 1,200 shares, with a sum of ₹1,16,400.
Saakshi Medtech and Panels Limited will be listed on NSE SME. The stock will be listed on October 6, 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- As such, Angel One will notify you of your IPO allotment status via push notification and email.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
