Chavda Infra IPO will open for subscription from 12 September 2023. The company aims for an issue size of ₹43.26 Cr through this IPO.
Company Overview
| Full name | Chavda Infra Limited |
| Sector | Realty |
| Industry | Construction-Real Estate |
| Company Website | https://www.chavdainfra.com/ |
About Company
Incorporated in 2012 and headquartered in Ahmedabad, Chavda Infra is an integrated civil construction company offering diversified construction and allied services across residential, commercial, and institutional projects in Gujarat, especially in Ahmedabad and Rajkot. The company’s services span the construction value chain, ranging from planning and design to construction and post-construction activities for its clients.
Chavda Infra has successfully executed over 100 projects worth INR 671 crore. Some of its prestigious projects across Ahmedabad include residential projects such as Straft Laxuria, Shivalik Parkview and Shivalik Sharda Harmony; commercial projects such as AAA Corporate House, Sadbhav House, Solitaire Sky, Sandesh Press, Suyash Solitaire and Solitaire Connect; and institutional projects such as AIS Toddler’s Den, Nirma University (old Building) and Zydus School & Excellence.
As of 31 May 2023, the company has 26 ongoing projects worth approximately INR 601.39 crores, indicating a strong order book. Out of 26 ongoing projects, 4 are commercial Projects, 4 are institutional projects and 18 are residential projects.
Chavda Infra derives its revenue from the following three business verticals:
- Contracting Services
- Development Services
- Commercial Renting Services
The Objective of the Issue
- To Meet Working Capital Requirements,
- General corporate purposes, and
- To meet Public Issue Expenses.
IPO Timetable
| IPO Opening date | 12 September 2023 |
| IPO Closing | 14 September 2023 |
| Basis of Allotment | 20 September 2023 |
| Initiation Refund | 21 September 2023 |
| Credit to Demat Account | 22 September 2023 |
| Listing Date | 25 September 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹43.26 Cr – 6,656,000 shares |
| Fresh Issue | ₹43.26 Cr – 6,656,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹60 to ₹65 per share |
| Lot size | 2000 Shares |
| Shareholding pre issue | 18,000,000 |
| Shareholding post issue | 24,656,000 |
| Market Maker portion | 336,000 shares |
| Listing Exchange | BSE & NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹130,000 |
| Retail (Max) | 1 | 2000 | ₹130,000 |
| HNI (Min) | 2 | 4,000 | ₹260,000 |
Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 91.24 | 109.82 | 161.89 |
| Expenses | 85.24 | 102.55 | 145.26 |
| Net income | 4.44 | 5.22 | 12.05 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 2.47 | 2.90 | 6.69 |
| PE ratio | – | – | 8.97 – 9.72 |
| RONW (%) | 33.77 | 28.41 | 39.62 |
| NAV | 7.30 | 10.20 | 16.89 |
| ROCE (%) | 34.99 | 29.42 | 43.62 |
| EBITDA (%) | 16.29 | 14.24 | 16.72 |
| Debt/Equity | 2.53 | 2.72 | 1.75 |
Company Promoters
- Mr. Mahesh Gunvantlal Chavda
- Mrs. Dharmishtha Maheshkumar Chavda
- Mr. Johil Maheshbhai Chavda
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73% |
Lead Manager(s)
BEELINE CAPITAL ADVISORS PRIVATE LIMITED
B 1311-1314, Thirteenth Floor, Shilp Corporate Park,
Rajpath Rangoli Road, Thaltej, Ahmedabad- 380054
Phone: +91-79-48405357, 48406357
Email: mb@beelinemb.com
Website: www.beelinemb.com
IPO Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: chavdainfra.ipo@kfintech.com
Website: www.kfintech.com
Contact Details
CHAVDA INFRA LIMITED
304 To 307, 406, 407 B Square I, Near Neptune House,
Iscon-Ambali BRTS Road Ahmedabad- 380058, Gujarat
Phone: 079 4892 6087
E-mail: compliance@chavdainfra.com
Website: www.chavdainfra.com
Allotment Status
Chavda Infra IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
Chavda Infra IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
