IPO

Gajanand International Limited IPO

NSE SME

Listed On: Sep 16, 2024 at ₹ 42.0

₹ 216000 /6000 Shares
*Min Investment

Check Allotment

09 Sep, 2024

Open Date

11 Sep, 2024

Close Date

12 Sep, 2024

Allotment Date

16 Sep, 2024

Listing Date
Gajanand International IPO Issue Details
  • Issue Price ₹36 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 57,36,000 shares(aggregating up to ₹20.65 crore)
  • Fresh Share 57,36,000 shares(aggregating up to ₹20.65 crore)
  • Listing at NSE SME
  • List Price 42.0
  • Listing Date 2024-09-16
  • Lead Manager Fast Track Finsec Pvt Ltd
  • Registrar Skyline Financial Services Private Ltd
Market Lot Size

Investors can bid for a minimum of 3000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min)13000₹1,08,000
Retail(max)13000₹1,08,000
NII (min) 26000₹2,16,000
Gajanand International IPO Reservation

Gajanand International IPO offers total 57,36,000 shares. Out of which NA (NA%) allocated to QIB, NA (NA%) allocated to NII,27,24,000 (47.49%) allocated to RII, NA (NA%) allocated to employees and NA (NA%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares OfferedNA (NA%)
Market Maker Shares Offered2,88,000 (5.02%)
Retail Shares Offered27,24,000 (47.49%)
Total Shares Offered57,36,000 (100%)
Gajanand International IPO Documents
DRHP
RHP
Gajanand International IPO Details


Gajanand International Limited IPO is an SME IPO, priced at ₹36 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the NSE SME platform. The IPO comprises a total issue of 57,36,000 equity shares, aggregating up to ₹20.65 crores..

The IPO bidding window is open from Sep 9, 2024 to Sep 11, 2024. The allotment is expected to be finalized on Sep 12, 2024, and the tentative listing date is Sep 16, 2024.

The minimum lot size for Retail investors is 3000 shares, with a minimum investment of ₹1,08,000. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,16,000.

Fast Track Finsec Pvt Ltd is acting as the lead manager to the issue. The registrar of the IPO is Skyline Financial Services Private Ltd, and Nikunj Stock Brokers Limited will act as the market maker for this issue.

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Gajanand International IPO Subscription Analysis And Details
Retail
24.18x
Total
15.27x
As onQIB / NIIRetailTotal
Shares Offered / Reserved2,724,0002,724,0005,448,000
Day 1 09-09-24 06:00 PM
0.17 x1.88 x1.03 x
Day 2 10-09-24 06:00 PM
0.92 x7.93 x4.43 x
Day 3 11-09-24 06:00 PM
5.79 x24.18 x15.27 x
Total No of Applications
214,072
Gajanand International Valuations
EPS Pre IPO ₹1.08/-
EPS Post IPO ₹1.59/-
P/E Pre IPO 33.43
P/E Post IPO 22.68
ROE 19.30%
ROCE 29.72%
Debt/Equity 0.68
RoNW 19.30%
PAT Margin 2.06%
Price to Book Value 2.10
Gajanand International Company Financials
In Lakhs
In Lakh
31-Mar-2431-Mar-2331-Mar-22
Assets3,931.11,900.581,944.36
Revenue10,874.817,342.46,176.21
Profit After Tax223.73141.062.85
Net Worth1,771.36547.62406.57
Reserves & Surplus461.4505.75364.7
Total Borrowing1,207.071,179.481,465.28
About Gajanand International Company

Gajanand International Limited, which was earlier known as Gajanand Cottex Private Limited, is into the production of clean and green cotton since 2009.

Its product portfolio consists of:
Mech1 cotton: It is grown in Madhya Pradesh and Maharashtra, sown during June/July, and harvested between November and January.
Shankar6 cotton: This is grown in the country and is the most exported raw cotton variety in India.
DCH 32 cotton: Sown in the months of July-August, and is harvested between December to March. The crop is cultivated in Karnataka, Tamil Nadu, and Madhya Pradesh.
Khol: Produced from superior and pure cotton seeds.

The company has 22 employees as of 31st March, 2024.

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Gajanand International - Promoter(s)

Mr. Ashok Bhagvanbhai Monsara

Mrs. Truptiben Ashokbhai Monsara

Mr. Ashish Dhirajlal Monsara

Pre Issue Share Holding : 90.50%

Post Issue Share Holding : 62.34%

Gajanand International IPO - Issue Objectives
1

To meet out the Working Capital requirements of the Company

2

To meet out the General Corporate Purposes

3

To meet out the Issue Expenses.

Gajanand International IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
Gajanand International Limited2.172.1717.164.6119.32.12Standalone
Laxmi Cotspin Limited-0.16-0.163.67-207.120.0211Standalone
Spright Agro Limited0.120.121.314860.2358Standalone

Notes:

  1. The industry peer may be modified to finalize the issue price before filing the Prospectus with ROC.
  2. Considering the nature and turnover of the Company's business, the peer is not strictly comparable. However, the same has been included for broader comparison.
  3. The figures for Gajanand International Limited are based on the restated results for the year ended March 31, 2024.
  4. The figures for the peer group are based on standalone audited results for the respective year ended March 31, 2024.
  5. Current Market Price (CMP) is the closing price of the respective scrip as of August 31, 2024.
Contact Details

Gajanand International

Survey No. 1257/1266, Jasdan-Atkot Roadnr. Bypass Circle, Jasdan, Rajkot - 360050

+91-99094 46110

info@gajanand-int.com

https://www.gajanand-int.com/

Registrar Contact Details

Skyline Financial Services Private Ltd

02228511022

ipo@skylinerta.com

https://www.skylinerta.com/ipo.php