Essen Speciality Films IPO: A fresh issuance and an offer for sale (OFS) by the promoters and early shareholders make up Essen Speciality Films’ IPO, which is valued at 66.33 crores. The pricing range has been established as 101 to 107. The fresh issue component involves the issuance of 46.992 lakh shares, valued at 50.28 crores at the top of the price range at 107. The Essen Speciality Films IPO’s promoters are Pallav Kishorbhai Doshi, Khushboo Chandrakant Doshi, and Karishma Rajesh Doshi.
The registrar for the IPO is Bigshare Services Pvt Ltd. It is proposed that the shares list on NSE SME. The OFS part comprises the issuance of 15 lakh shares, valued at 16.05 crore at the top of the price range at 107. In all, 61.992 lakh shares will be issued as part of the IPO, for a total issue size of 66.33 crores at the maximum price band of 107 per share.
Essen Speciality Films IPO Dates
Essen Speciality IPO date is fixed, The IPO will open on June 23 and will close on June 27. On Monday, July 3, 2023, the Basis of Allotment for Essen Speciality Films IPO will be finalised, and by Wednesday, July 5, 2023, the allotted shares will have been credited to your demat account. The Essen Speciality Films IPO listing date is Thursday, 6 July 2023. Essen Speciality is an NSE SME IPO to raise ₹66.33 crores via IPO. The Essen Speciality IPO price band is fixed at ₹101 to ₹107 with a market lot of 1200 shares.
Essen Speciality Films IPO Details
| IPO Date | Jun 23, 2023 to Jun 27, 2023 |
| Face Value | ₹10 per share |
| Price | ₹101 to ₹107 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 6,199,200 shares (aggregating up to ₹66.33 Cr) |
| Fresh Issue | 4,699,200 shares (aggregating up to ₹[.] Cr) |
| Offer for Sale | 1,500,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Market Maker portion | 310,800 shares |
Important Dates of Essen Speciality Films IPO
Essen Speciality Films IPO opens on Jun 23, 2023, and closes on Jun 27, 2023. An SME IPO, Essen Speciality Films’ 6,199,200 equity shares with a face value of 10 can raise up to 66.33 crores. Priced between 101 and 107 per share, the issue. A minimum of 1200 Shares must be ordered.
| Event | Tentative Date |
|---|---|
| Opening Date | Friday, 23 June 2023 |
| Closing Date | Tuesday, 27 June 2023 |
| Basis of Allotment | Monday, 3 July 2023 |
| Initiation of Refunds | Tuesday, 4 July 2023 |
| Credit of Shares to Demat | Wednesday, 5 July 2023 |
| Listing Date | Thursday, 6 July 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 27, 2023 |
Essen Speciality Films IPO Lot Size
The Essen Speciality Films IPO lot size is 1200 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹128,400 |
| Retail (Max) | 1 | 1200 | ₹128,400 |
| HNI (Min) | 2 | 2,400 | ₹256,800 |
Objects of the Essen Speciality Films IPO
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company.
- Funding the working capital requirements.
- General corporate purposes.
About Essen Speciality Films Limited IPO
Incorporated in 2002, Essen Speciality Films Limited manufactures and exports specialized plastic products in the home improvement and home furnishing industry, to multinational modern trade retailers, such as IKEA, Walmart, Kmart, Bed Bath & Beyond, Rusta, Runsven, Kohl’s, Kroger, etc.
The company’s product list includes bath area and accessories, artificial plants & flowers, kitchen & dining, storage & organization, fitness & lifestyle, and outdoor & utility products, and customized products, which include plastic films, Spa slippers, Baby shower caps, green-house gutter sheets, etc. The company markets and sells its products predominantly under three brands; ‘Draperi’ for shower curtains, ‘Runner’ for shelf liners, and ‘Paperi’ for artificial plants and placemats.
They have a diversified customer base and are spread across various industries, including but not limited to home furnishing, home decor, departmental stores, discount retailers, hypermarkets, hardware, and home improvement, office supplies stores, agricultural and medical industry, and international importers and wholesale distributors.
The company supplies its products to twenty-four (24) countries, including but not limited to, China, Saudi Arabia, the United States of America, Qatar, United Kingdom, Germany, Italy, Canada, Romania, Denmark, Poland, New Zealand, United Arab Emirates, Spain, Austria, France, Australia, Kuwait, Belgium, Austria, Sweden, and Mexico.
Essen Speciality Films has been recognized as a ‘two-star export house’ by the Ministry of Commerce & Industry, Government of India. And was awarded with the ‘Best Supplier of the Year’, twice by IKEA.