Teerth Gopicon IPO: Open/Close Date, Price, Lot Size, Allotment & Subscription

Q: When will Teerth Gopicon Ltd's IPO open for subscription?

The IPO subscription window will open on April 8, 2024 .

IPO Details

Bidding Dates

07 Apr '24 - 09 Apr '24

Minimum Investment

₹ 1,33,200 / 1 Lot ( 1600 Shares )

Price Range

₹111

Maximum Investment

₹ 1,33,200 / 1 Lot ( 1600 Shares )

Retail Discount

To be announced

Issue Size

₹44.40 Cr

Investor category and sub category

Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Apr 7, 2024

Closing Date

Apr 9, 2024

Basis of Allotment

Apr 11, 2024

Initiation of Refunds

Apr 14, 2024

Credit of Shares to Demat

Apr 14, 2024

Listing Date

Apr 15, 2024

Cut-off time for UPI mandate confirmation

Apr 9, 2024

IPO Subscription Details

Date	NII	Retail	Total
Day 1Apr 7, 2024	2.23x	2.16x	2.19x
Day 2Apr 8, 2024	4.73x	5.49x	5.11x
Day 3Apr 9, 2024	96.97x	41.76x	74.17x

IPO Subscription Status Live

Investor Category	Subscription (Times)
Non-Institutional Buyers	96.97
Retail Investors	41.76
Total	74.17

About Teerth Gopicon Ltd

Teerth Gopicon Limited, established in 2019, specializes in infrastructure projects including road construction and the development of sewerage and water supply systems in Madhya Pradesh. The firm has also engaged in residential construction, notably completing a tower in Indore as a subcontractor.

The organization is a certified contractor for several central and state government bodies such as ISCDL, IMC, USCL, UMC, and MPJNM, and has executed a variety of projects in the private sector as well.

Its portfolio encompasses a diverse array of civil engineering projects, including the construction of buildings, water supply systems, pipelines, sewage networks, sewage treatment plants, Nalla taps, reuse networks, overhead tanks, GSR, road construction, and lake rehabilitation.

As of February 29, 2024, Teerth Gopicon Limited employed 164 permanent staff across different departments, including workmen.

Industry Outlook

The National Infrastructure Pipeline (NIP) now includes 9,142 projects, with 2,476 in the development phase requiring an investment of US$ 1.9 trillion. Significant efforts are focused on the transportation sector, especially roads and bridges.
The Indian government has raised the infrastructure capital investment for 2023-24 to ₹10 lakh crore (US$ 122 billion), a 33% increase, with a record ₹2.40 lakh crore (US$ 29 billion) dedicated to the Railways, indicating a strong commitment to enhancing national infrastructure.

Teerth Gopicon Ltd IPO Details

Teerth Gopicon Ltd IPO Dates

Teerth Gopicon IPO is open from April 8, 2024, to April 10, 2024. The IPO will be listed on NSE Emerge.

Teerth Gopicon Ltd IPO Price Band

Teerth Gopicon is a fixed price issue. The price band is set at ₹111 per share.

Teerth Gopicon Ltd IPO Lot Size

The lot size for Teerth Gopicon Limited’s IPO is 2,000 shares with a minimum investment of ₹1,33,200.

Teerth Gopicon Ltd IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

Funding of working capital requirements of the Company
General Corporate Expenses

Peer Details

The following are the listed peers of Teerth Gopicon:

Man Infraconstruction Limited
ITD Cementation India Limited
Likhitha Infrastructure Limited
Udayshivakumar Infra Limited

How To Check the Allotment Status of the Teerth Gopicon Ltd 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 Teerth Gopicon Ltd

Registered office: 703, Sapath Complex-I, Opp. Rajpath Club, Near Madhur Hotel, Bodakdev, Ahmedabad-380054, Gujarat, India

Phone: +91 9979840806

E-mail: investor@teerthgopicon.com

IPO Financials

Particulars	For the period Ended on September 30, 2023	Year ending on March 31, 2023	Year ending on March 31, 2022	Year ending on March 31, 2021
Total Income (in ₹ lakh)	3,741.78	3,914.87	3,120.77	4,620.74
Profit After Tax (PAT) (in ₹ lakh)	339.52	179.22	15.27	46.45
Cash & Cash Equivalents (in ₹ lakh)	215.68	532.87	216.53	261.38
Net Worth (in ₹ lakh)	1,128.23	788.70	609.49	594.22
Debt to Equity Ratio(x)	0.48	0.43	2.24	1.57
Return on Equity (%)	30.09%	22.72%	2.50%	7.82%
Return on Net Worth (RoNW) (%)	30.09%	22.72%	2.50%	7.82%
Earning Per Share (EPS)-in absolute ₹	6.79	3.58	0.31	1.50

Know before investing

Strengths

Teerth Gopicon Limited excels in efficiently managing and completing a wide range of infrastructure projects on time and within budget. Led by Maheshbhai Khumbhani, the team's extensive industry experience positions the company for future growth and market expansion.
The company has a strong presence in Madhya Pradesh, completing several critical projects under the Smart Cities Mission and Jal Jeevan Mission. This includes four major projects in Indore and three significant water supply schemes, showcasing its capability and trustworthiness in crucial development sectors.
Teerth Gopicon Limited has invested ₹248.03 lacs in essential plant and machinery up to September 2023, enhancing its self-reliance and reducing external dependencies. This investment facilitates timely project delivery and minimises contractual risks, underlining the company's commitment to leveraging technology for operational efficiency.

Risks

Teerth Gopicon Limited's operations are exclusively in Madhya Pradesh, relying entirely on state government, local authority projects, and associated entities for revenue. This concentration could lead to significant business impact due to regional economic, political, or regulatory changes.
The company's registered office in Ahmedabad and corporate office in Indore are leased from related parties with agreements due to expire in November 2026 and November 2026 respectively. Non-renewal could disrupt operations and impact profitability and brand image.
A large portion of revenue is derived from a limited number of clients, with 100% of FY2023 revenue from just five clients. Loss or reduction in business from any key client could significantly affect financial stability and future revenue streams.