Esprit Stones IPO will open for subscription from 26 July 2024. The company aims for an issue size of ₹50.42 Cr through this IPO.
Company Overview
| Full name | Esprit Stones Limited |
| Sector | Construction Materials |
| Industry | Ceramics/Marble/Granite/Sanitaryware |
| Company Website | https://espritstones.com/ |
About Company
Esprit Stones specializes in crafting Engineered Stones, focusing on two main products: engineered quartz surfaces and engineered marble surfaces. These Engineered Stones are composite materials that bond crushed stone with a strong adhesive. As of March 2024, Manufacturing Facility I boasts three pressing lines and two polishing lines, producing approximately 72 lakh square feet annually. Furthermore, the company has launched Manufacturing Facility II to produce quartz grit and quartz powder, essential raw materials for engineered quartz production.
As of July 2024, Esprit Stones exports to over 10 countries, including the USA, Canada, Egypt, Bulgaria, UAE, and Saudi Arabia. Additionally, the company produces unsaturated polyester resin at its third manufacturing facility. As of 31 May 2024, the company had 295 employees in various departments.
The Objectives 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 Timetable
| IPO Opening date | 26 July 2024 |
| IPO Closing | 30 July 2024 |
| Basis of Allotment | 31 July 2024 |
| Initiation Refund | 01 August 2024 |
| Credit to Demat Account | 01 August 2024 |
| Listing Date | 02 August 2024 |
Esprit Stones IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹50.42 Cr – 5,795,200 shares |
| Fresh Issue | ₹50.42 Cr – 5,795,200 shares |
| Offer for sale | – |
| Face value | ₹10 per share |
| Price Band | ₹82 to ₹87 per share |
| Lot size | 1600 Shares |
| Market Maker portion | 291,200 shares |
| Shareholding pre-issue | 16,150,000 |
| Shareholding post-issue | 21,945,200 |
| Listing Exchange | NSE SME |
Esprit Stones IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹139,200 |
| Retail (Max) | 1 | 1600 | ₹139,200 |
| HNI (Min) | 2 | 3,200 | ₹278,400 |
Esprit Stones Offer Documents
Esprit Stones IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,612,800 (27.83%) |
| Market Maker Shares Offered | 291,200 (5.02%) |
| QIB Shares Offered | 1,075,200 (18.55%) |
| NII (HNI) Shares Offered | 806,400 (13.91%) |
| Retail Shares Offered | 1,881,600 (32.47%) |
| Total Shares Offered | 5,795,200 (100%) |
Esprit Stones Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 186.46 | 174.41 | 272.89 |
| Expenses | 166.35 | 170.75 | 260.68 |
| Net income | 18.51 | 3.56 | 10.32 |
Esprit Stones Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | 11.46 | 2.13 | 6.29 |
| PE ratio | – | – | 13.04 – 13.83 |
| RONW (%) | 37.25 | 5.66 | 15.09 |
| NAV | 36.49 | 38.56 | 44.82 |
| ROCE (%) | 25.05 | 7.60 | 12.39 |
| EBITDA (%) | 17.79 | 10.89 | 12.17 |
| Debt/Equity | 0.98 | 1.90 | 1.72 |
Company Promoters
- Sunilkumar Lunawath
- Nitin Gattani
- Pradeepkumar Lunawath
- Sangeeta Gattani
- Anushree Lunawath
- Siddhanth Lunawath
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding |
Esprit Stones Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 1 August 2024 | 40 | – | 45,000 |
| 31 July 2024 | 42 | – | 49,000 |
| 30 July 2024 | 46 | – | 53,000 |
| 29 July 2024 | 45 | – | 51,500 |
| 27 July 2024 | 35 | – | 40,000 |
| 26 July 2024 | 35 | – | 40,000 |
| 25 July 2024 | 30 | – | 35,000 |
| 24 July 2024 | 20 | – | 22,000 |
Esprit Stones IPO Subscription Update
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Shares Offered | 10,75,200 | 8,06,400 | 18,81,600 | 1,28,000 | 38,91,200 |
| 30 Jul 2024 | 117.63 | 399.94 | 145.75 | 1.01 | 185.90 |
| 29 Jul 2024 | 3.50 | 15.92 | 26.89 | 0.55 | 17.29 |
| 26 Jul 2024 | 0.00 | 1.43 | 3.54 | 0.15 | 2.01 |
Esprit Stones IPO Allotment Status
Esprit Stones IPO Listing Details
| Listing Date | 02 August 2024 |
| BSE Scrip Code | |
| NSE Symbol | ESPRIT |
| ISIN | INE0SBP01018 |
| Final Issue Price | ₹87 per share |
Esprit Stones IPO Listing Day Update
| Listing Exchange | NSE SME |
| Final Issue Price | ₹87.00 |
| Open | ₹93.15 |
| Low | ₹93.15 |
| High | ₹97.80 |
| Last Trade | ₹97.80 |
Esprit Stones IPO Lead Manager(s)
CHOICE CAPITAL ADVISORS PRIVATE LIMITED
Sunil Patodia Tower, Plot No. 156-158,
J.B. Nagar, Andheri (East), Mumbai, 400 099
Phone: +91 22 6707 9999 / 7919
Email: esl.ipo@choiceindia.com
Website: www.choiceindia.com
Esprit Stones Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91-022-49186200
Email: espritstones.ipo@linkintime.co.in
Website: www.linkintime.co.in
Esprit Stones Contact Details
ESPRIT STONES LIMITED
Khasra No. 1106 – 1109, Revenue Village Bhilwada,
Kukdeshwar Mahadev Road, Udaipur – 313 001
Phone: +91 91166 52582
E-mail: legal@espritstones.com
Website: www.espritstones.com
Esprit Stones IPO FAQs
What is Esprit Stones Issue size?
Esprit Stones offer size is ₹ 47.52 – 50.42 crores.
What is the Esprit Stones Offer price band?
Esprit Stones public offer price is ₹ 82 – 87 per share.
What is the lot size of the Esprit Stones IPO?
Esprit Stones offer a lot size is 1,600 shares.
What is Esprit Stones Offer GMP today?
Esprit Stones IPO GMP today is ₹ 40 per share.
What is the Esprit Stones kostak rate today?
Esprit Stones kostak rate today is ₹ NA per application.
What is Esprit Stones Subject to the Sauda rate today?
Esprit Stones is Subject to the Sauda rate today is ₹ 45,000 per application.
Final thoughts
Esprit Stones IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
