IPO Details
Bidding Dates
29 Apr '24 - 02 May '24
Minimum Investment
₹124,800 / 1 Lots ( 1600 Shares )
Price Range
₹73 - ₹78
Maximum Investment
₹124,800 / 1 Lots ( 1600 Shares )
Retail Discount
Not Applicable
Issue Size
₹29.95 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Bidders (NIB) | Qualified Institutional Buyers (QIB) |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Apr 29, 2024
Closing Date
May 2, 2024
Basis of Allotment
May 5, 2024
Initiation of Refunds
May 6, 2024
Credit of Shares to Demat
May 6, 2024
Listing Date
May 7, 2024
Cut-off time for UPI mandate confirmation
May 2, 2024
About Storage Technologies and Automation Limited
Storage Technologies and Automation Limited, founded in 2010, specialises in storage racking systems. The company offers design, manufacturing, and installation services for metal storage racks, automated warehouses, and various storage solutions. Catering to industries such as oil & gas, automotive, food & beverages, pharmaceuticals, and retail, the company focuses on delivering innovative and efficient solutions to meet diverse warehousing needs.
With a commitment to quality, Storage Technologies and Automation Limited utilises high-quality raw materials like mild steel and coatings such as powder, epoxy, and enamel for its products. Holding ISO 9001:2015 certification, the company's manufacturing processes are conducted across a vast infrastructure in Bangalore.
Founded by Mr. Mohammed Arif and Mr. Khasim Sait, each with over 13 years of industry experience, the company's core values revolve around integrity, innovation, and customer focus. With an order book value of ₹2136.00 Lakhs as of April 01, 2024, Storage Technologies and Automation Limited strives to deliver projects with precision, maintain strict safety standards, and uphold exceptional quality to remain a reliable partner for clients.
Industry Outlook:
- The world economy is predicted to be resilient despite uncertainty brought on by recent unfavourable shocks like the COVID-19 epidemic and geopolitical tensions. There are indications of stabilisation, with 3% growth rates predicted in 2024 and a slowdown in inflation. This forecast is good news for Automation Limited and Storage Technologies since it points to a stable global economy, which might raise demand for storage solutions across a range of global businesses.
- With strong GDP growth anticipated for FY24 and encouraging signs like rising private consumption and loan expansion to the MSME sector, the Indian economy appears to be recovering. Storage Technologies and Automation Limited, a player in the Indian storage solutions industry, should benefit from this economic momentum.
- Significant development potential exists for Storage Technologies and Automation Limited due to the growing popularity of rack-supported warehouses and the rising acceptance of automation in storage facilities. The need for creative storage solutions is rising as companies prioritise streamlining operations and making the most use of available storage. The organisation can fulfil the changing demands of its clients and stay competitive in the industry by providing adaptable rack systems and automation solutions in line with current market trends.
Storage Technologies and Automation Limited IPO Details
Storage Technologies and Automation Limited IPO Dates
Storage Technologies and Automation Limited IPO is open from Tuesday, April 30, 2024, to Friday, May 3, 2024. The IPO will be listed on BSE, SME.
Storage Technologies and Automation Limited IPO Price Band
Storage Technologies and Automation Limited is a book-built issue IPO. The price band is set at ₹73 to ₹78 per share.
Storage Technologies and Automation Limited IPO Lot Size
The lot size for Storage Technologies and Automation Limited IPO is 1600 shares with a minimum investment of ₹1,24,800.
Storage Technologies and Automation Limited IPO Objectives
The company plans to allocate the net proceeds from the issue for the following purposes:
- Allocate ₹2,750.00 lakh for the funding of working capital requirements.
- General corporate purposes, such as driving business growth, meeting operating expenses, and strengthening business development and marketing capabilities, in line with the policies set by the Board.
Peer Details
As per DRHP, the company has Alphalogic Industries Limited as its single listed industry peer.
How to Check the Allotment Status of the Storage Technologies and Automation Limited 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.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Storage Technologies and Automation Limited IPO
- Registered office: No 10, Survey No 21/6A, 21/7A, 21/7B and 21/8 Singanayakanahalli, Yelahanka, Bangalore, Bangalore- 560 064, Karnataka, India
- Phone:+91 98444 86300
- E-mail:cs@racksandrollers.com
IPO Financials
| Particulars | As at October 31, 2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|---|
| Revenue(Amount in ₹ Lakhs) | 5,317.09 | 8,137.12 | 6,989.72 | 4,852.38 |
| Profit After Tax (PAT) (in ₹ Lakhs) | 358.91 | 48.30 | -20.49 | 118.42 |
| Assets | 6,375.77 | 4,004.01 | 3,567.70 | 3,113.04 |
| Return on Net Worth (%) | 37.64% | 20.89% | (3.75)% | 8.12% |
| Total Borrowing | 1,632.53 | 931.63 | 871.10 | 347.48 |
| EBITDA (in ₹ lakh) | 706.93 | 435.71 | 268.49 | 303.39 |
Know before investing
Strengths
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With a cumulative experience of over 20 years, Storage Technologies and Automation Limited benefits from seasoned promoters and a proficient senior management team. Their industry knowledge and managerial expertise drive the company's growth, enabling it to capture market opportunities, execute strategies, and deliver value-engineered projects.
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Storage Technologies and Automation Limited boasts a diverse product portfolio designed with a focus on ergonomics and economic feasibility. With the ability to develop custom solutions based on client needs and supported by a team of engineers, the company stands uniquely positioned in the market to meet various storage requirements effectively.
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Leveraging integrated manufacturing operations and robust product development capabilities, Storage Technologies and Automation Limited aims to achieve customer satisfaction and foster loyalty. By continuously evolving its product portfolio and offering customised solutions, the company strengthens its position in the market and generates repeat business.
Risks
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Storage Technologies and Automation Limited relies heavily on a few key customers for sales, and the loss of any of these significant clients could significantly impact revenue and profitability.
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The unexpected loss, shutdown, or slowdown of operations at the manufacturing plant represents a critical risk that could profoundly affect Storage Technologies and Automation Limited's results of operations and financial condition. Any disruptions, whether due to equipment failure, power supply interruptions, natural disasters, or other factors, could lead to production delays, revenue losses, and reputational damage.
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Inaccurate estimation of risks, revenues, or costs for projects could negatively impact profitability and operational results. Deviations from bid assumptions may lead to challenges in recovering additional expenses, potentially resulting in financial losses, strained cash flow, and contractual breaches with customers.
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Storage Technologies and Automation IPO FAQs
Storage Technologies and Automation Limited is a book-built IPO. The IPO is open from Tuesday, April 30, 2024, to Friday, May 3, 2024. The IPO will be listed on BSE, SME.
The Basis of Allotment will happen on Monday, May 6, 2024.
The IPO subscription window will open on Tuesday, April 30, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1600 shares.
The listing date for Storage Technologies and Automation Limited IPO is Wednesday, May 8, 2024.
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.
