Esprit Stones Limited manufactures engineered quartz and marble surfaces.
As of March 2024, the Manufacturing Facility I is equipped with three (3) pressing lines and two (2) polishing lines, with a production capacity of around 72 lakhs sq.ft. per annum. Additionally, we commissioned our Manufacturing Facility II to manufacture quartz grit and quartz powder, which is the primary raw material for the manufacture of engineered quartz.
The company manufactures unsaturated polyester resin, at the manufacturing facility three. The company has been certified for ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, and Green Guard certifications.
As of May 31, 2024, the company had 295 employees in various departments.
Esprit Stones IPO – Details
| IPO Opening Date | 26 July 2024 |
| IPO Closing Date | 30 July 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 57,95,200 Shares Worth ₹50.42 Crore Fresh Issue: 57,95,200 Shares Worth ₹50.42 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹82 – ₹87 |
| Market Lot | 1600 Shares |
| Min Order | 1600 Shares (1 Lot) |
| Listing At | NSE SME |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| Retail Shares Offered | 35% |
| NII (HNI) Shares Offered | 15% |
Esprit Stones IPO – Date Schedule
| IPO Open Date | 26 July 2024 |
| IPO Close Date | 30 July 2024 |
| Basis of Allotment | 31 July 2024 |
| Initiation of Refund | 01 August 2024 |
| Credit of Shares to Demat Account | 01 August 2024 |
| IPO Listing Date | 02 August 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 30, 2024 |
Esprit Stones IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹1,39,200 |
| Retail (Max) | 1 | 1600 | ₹1,39,200 |
| HNI (Min) | 2 | 3200 | ₹2,78,400 |
Competitive Strengths
- The company is one of the key Engineered Stone players in the Indian Market.
- The company believe that quality and innovations are the bed-rock of success. The company has developed quality control processes for inspecting the raw materials as well as the final products.
- The company also engaged in the manufacturing of engineered quartz surfaces and the core raw material for manufacturing of engineered quartz are quartz grit and unsaturated polyester resin. This reduces the dependency on third-party raw material suppliers.
- The Udaipur area in Rajasthan has abundant mineral deposits that are used for manufacturing of the Engineered Stones. The company’s manufacturing facilities, located in the Udaipur district, benefit from the mineral rich ecology, resulting in economic and logistical advantages.
- The company believe that its Promoters have played a key role in the development of the business and the benefit from their industry knowledge and expertise, vision and leadership. In addition to Promoters, the key management and senior management team includes qualified, experienced and skilled professionals who possess requisite experience across various division of its business.
Company Promoters
- Sunilkumar Lunawath
- Nitin Gattani
- Pradeepkumar Lunawath
- Sangeeta Gattani
- Anushree Lunawath
- Siddhanth Lunawath
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 190.02 | 166.35 | 18.50 | 57.99 |
| 31 March 2023 | 176.06 | 170.75 | 3.55 | 118.79 |
| 31 March 2024 | 274.77 | 260.68 | 10.31 | 125.41 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 12.39% |
| Debt/Equity | 1.72 |
| RoNW | 15.09% |
| P/BV | 1.94 |
| PAT Margin (%) | 3.78 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 6.39 | 4.7 |
| P/E (x) | 13.62 | 18.51 |
Object Of The Issue
- Funding Working Capital requirement of the Company.
- Investment in the Subsidiary, Haique Stones Private Limited (HSPL), for repayment and / or prepayment in part or full of its outstanding borrowings.
- Investment in the Subsidiary, Haique Stones Private Limited (HSPL) for funding its Working Capital Requirement.
- General Corporate Purpose.
Esprit Stones IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | – |
Esprit Stones IPO Prospectus
Company Contact Information
| Esprit Stones Limited SP1, Udyog Vihar, SukherIndustrial Area, Udaipur- 313 004, Phone: +91 91166 52582 Email: legal@espritstones.com Website: https://espritstones.com/ |
Esprit Stones IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: jinesh@srujanalpha.com Website: https://linkintime.co.in/initial_offer/public-issues.html |
Esprit Stones IPO Lead Manager(s)
| 1. Choice Capital Advisors Pvt Ltd 2. Srujan Alpha Capital Advisors Llp |
Esprit Stones IPO FAQs
| What is Esprit Stones IPO? Esprit Stones IPO is a SME IPO. The issue is priced at ₹82 and ₹87 per equity share. The IPO is to be listed on NSE SME. |
| When Esprit Stones IPO will open? The IPO is to open on 26 July 2024 for QIB, NII, and Retail Investors. |
| What is Esprit Stones IPO Investors Portion? The investors’ portion for QIB- 50%, Retail – 35%, NII – 15%. |
| How to Apply the Esprit Stones IPO? You can apply Esprit Stones IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Esprit Stones IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Esprit Stones IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Esprit Stones IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Esprit Stones IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Esprit Stones IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Esprit Stones IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Esprit Stones IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Esprit Stones IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Esprit Stones IPO Size? Esprit Stones IPO size is ₹50.42 Crore. |
| What is Esprit Stones IPO Price Band? Esprit Stones IPO Price Band is ₹82 – ₹87. |
| What is Esprit Stones IPO Minimum and Maximum Lot Size for retail? The minimum bid is 1600 Shares with ₹1,39,200 amount while the maximum bid is 1600 Shares with ₹1,39,200. |
| What is the Esprit Stones IPO Allotment Date? Esprit Stones IPO allotment date is 31 July 2024. |
| What is the Esprit Stones IPO Listing Date? Esprit Stones IPO listing date is 02 August 2024. The IPO is to be listed on NSE SME. |
