Sealmatic India IPO will open for subscription from 17 February 2023. the company aims for an issue size of ₹56.24 Cr through this IPO.
About Company
Incorporated in 2009, Sealmatic India is engaged in the business of designing and manufacturing mechanical seals and associated products. The Mechanical seals manufactured by the company are mainly used in pulp & paper, Oil & Gas, refinery, petrochemical, chemical, fertilizer, power, mining, aerospace, marine, pharmaceutical, and other industrial spaces.
The company manufactures customized seals in order to meet the requirements of the customers. The operations of the company are widely recognized not alone in India, but worldwide too. Currently, the company has a presence in over 45 countries including India. Some of the countries are the USA, Sweden, the UK, Germany, Italy, Japan, Norway, Switzerland, Denmark, Netherlands, Australia, France, and many more.
Sealmatic supplies its products to industry leaders from sectors like Pharma, Oil and Gas industry, and Power. The company stated that it has a retention rate of 100%. The customers of the company include fortune 500 companies.
Basic details about the company
| Full name | Sealmatic India Limited |
| Sector | Capital Goods |
| Industry | Engineering-Industrial Equipments |
| Company Website | https://www.sealmaticindia.com/ |
The objective of the Issue
- Purchase of Plant, Machinery, and Product Development.
- Working Capital Requirements.
- Marketing and After Sales Support, Provisions, and Contingency.
- General Corporate Purpose.
Major Competitive strengths
- One of few Indian Company Approved/ Registered as vendors with National & International customers.
- Experienced Board of Directors & Senior Management team supported by Skilled & Qualified Workforce.
- Consistent financial performance with about 30% growth in Profit After Tax.
- Optimum utilization of existing installed capacity & firm plan for Expansion.
IPO Timetable
| IPO Opening date | 17 February 2023 |
| IPO Closing | 21 February 2023 |
| Basis of Allotment | 24 February 2023 |
| Initiation Refund | 27 February 2023 |
| Credit to Demat Account | 28 February 2023 |
| Listing Date | 01 March 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹56.24 Cr – 2,499,600 shares |
| Fresh Issue | 1,850,000 shares |
| Offer for sale | 649,600 shares |
| Face value | ₹10 per share |
| Price Band | ₹220 to ₹225 per share |
| Lot size | 600 Shares |
| Retail Allocation | 42% |
| Listing Exchange | BSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹135,000 |
| Retail (Max) | 1 | 600 | ₹135,000 |
| HNI (Min) | 2 | 1,200 | ₹270,000 |
Reservation Details
| QIB Shares Offered | 40% of the Net Issue |
| NII (HNI) Shares Offered | 18% of the Net Issue |
| Retail Shares Offered | 42% of the Offer |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | H1 FY 2023 | |
| Revenue | 3,309.1 | 3,532.6 | 4,254.1 | 2,562.7 |
| Expenses | 2,690.9 | 2,674.0 | 3,144.7 | 1,815.2 |
| Net income | 494.1 | 649.8 | 841.5 | 543.5 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | 6.87 | 9.03 | 11.69 |
| PE ratio | – | – | 18.82 – 19.25 |
| RONW (%) | 32.41 | 29.88 | 27.90 |
| NAV | – | – | 49.31 |
| ROCE (%) | 38 | 37 | 37 |
| EBITDA (%) | 24.66 | 29.41 | 28.83 |
| Debt/Equity | – | 0.13 | 0.03 |
Company Promoters
- Mr. Mohamed Hanif Chaudhari
- Mr. Umar A K Balwa
- Mr. Rafiq H. Balwa
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 72.38% |
Lead Manager(s)
- ISK Advisors Pvt Ltd
IPO Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Telephone: +91 40 6716 2222
Email: nvl.ipo@kfintech.com
Website: www.kfintech.com
Contact Details
SEALMATIC INDIA LIMITED
Bldg A, Indiplex Iv, Survey No-12,
Hissa No-9a, Village Ghodbunder,
Shanti Vidya Nagri Road, Mira Road (E) Thane- 401104
Phone: +91 9867058592
E-mail: compliance@sealmaticindia.com
Website: www.sealmaticindia.com
Allotment Status
Sealmatic India IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
Sealmatic India IPO is going to hit Dalal street soon. applying for IPO is purely a personal choice. study well about the company and do 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
