Esprit Stones Limited IPO
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 26 Jul 24 – 30 Jul 24 | ₹1,31,200 | 1,600 | ₹82 – ₹87 |
Issue Size | IPO Doc |
|---|---|
| 50.42Cr | RHP PDF |
About Esprit Stones Limited
| Founded in | 2016 |
| Managing director | Mr. Sunilkumar Lunawath |
| Parent organisation | Esprit Stones Ltd |
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Esprit Stones makes engineered quartz and marble surfaces in different colors, styles, and textures. They also make unsaturated polyester resin, a key material for their products, through their subsidiary Addwaya Chemicals.
They sell their products in India and other countries like the USA, Canada, Egypt, Bulgaria, the UAE, and Saudi Arabia. They use direct exports and independent distributors.
Founded in 2016, Esprit Stones has facilities for manufacturing. By March 2024, their first factory has three pressing lines and two polishing lines, producing 72 lakh square feet per year. Their second factory makes quartz grit and powder, essential for quartz surfaces. They also have a third factory for making unsaturated polyester resin.
The company has certifications for quality and safety (ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, and Green Guard). As of May 31, 2024, they have 295 employees.
Esprit Stones is offering an IPO to raise Rs 50.42 crores by issuing 57.95 lakh new shares. The IPO opens for subscription on July 26, 2024, and closes on July 30, 2024. The shares will list on the NSE SME on August 2, 2024.
The IPO price range is ₹82 to ₹87 per share. The minimum investment for retail investors is ₹139,200 for 1600 shares. High net-worth investors need to invest at least ₹278,400 for 3200 shares.
Choice Capital Advisors Pvt Ltd and Srujan Alpha Capital Advisors LLP are managing the IPO, and Link Intime India Private Ltd is the registrar. Choice Equity Broking is the market maker for the IPO.
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Financial Information
Esprit Stones Limited’s revenue grew by 56.07%, and their profit after tax (PAT) increased by 190.04% between the financial years ending on March 31, 2023, and March 31, 2024.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 27,459.35 | 23,802.24 | 18,069.74 |
| Revenue | 27,477.82 | 17,606.52 | 19,002.60 |
| Profit After Tax | 1,031.73 | 355.72 | 1,850.53 |
| Net Worth | 7,238.80 | 6,227.81 | 5,893.32 |
| Reserves and Surplus | 5,623.80 | 5,277.81 | 4,943.32 |
| Total Borrowing | 12,541.91 | 11,879.55 | 5,799.76 |
| Amount in ₹ Lakhs | |||
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IPO Timeline
Esprit Stones IPO opens on July 26, 2024, and closes on July 30, 2024
| IPO Open Date | Friday, July 26, 2024 |
| IPO Close Date | Tuesday, July 30, 2024 |
| Basis of Allotment | Wednesday, July 31, 2024 |
| Initiation of Refunds | Thursday, August 1, 2024 |
| Credit of Shares to Demat | Thursday, August 1, 2024 |
| Listing Date | Friday, August 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 30, 2024 |
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IPO FAQs
Esprit Stones’ IPO is a book-built issue of Rs 50.42 crores, with 57.95 lakh new shares being issued. The IPO subscription opens on July 26, 2024, and closes on July 30, 2024. The shares are expected to list on the NSE SME on August 2, 2024.
The IPO price band is set at ₹82 to ₹87 per share.
Esprit Stones Limited manufactures engineered quartz and marble surfaces in various colors, styles, designs, and textures. They also produce unsaturated polyester resin through their subsidiary, Addwaya Chemicals.
Esprit Stones Limited was founded in 2016.
Esprit Stones exports its products to over 10 countries, including the USA, Canada, Egypt, Bulgaria, the UAE, and Saudi Arabia.
As of March 2024, Manufacturing Facility I has a production capacity of around 72 lakh square feet per year, equipped with three pressing lines and two polishing lines.
Manufacturing Facility II produces quartz grit and quartz powder, which are primary raw materials for manufacturing engineered quartz.
Yes, Esprit Stones has several certifications, including ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, and Green Guard.
Between the financial years ending on March 31, 2023, and March 31, 2024, Esprit Stones’ revenue increased by 56.07%, and their profit after tax (PAT) rose by 190.04%.
Choice Capital Advisors Pvt Ltd and Srujan Alpha Capital Advisors LLP are the lead managers, while Link Intime India Private Ltd is the registrar. Choice Equity Broking is the market maker for the IPO.
