SME IPOs Sky Gold, Spectrum Electrical open for subscription

Spectrum Electrical Industries and Sky Gold Private have launched IPOs that are closing on September 21, 2018, while Garden Reach Ship is all set to launch an IPO on September 24, 2018.

Spectrum Electrical Industries has launched a fixed price IPO of 39,80,000 equity shares priced at Rs. 65 per share, aggregating to an amount of Rs. 25.87 crore. The shares have a face value of Rs. 10 each, a minimum order quantity of 2,000 shares and will be listed on NSE under SME. 
Through this IPO, the company is raising capital for setting up a zinc plating plant at Umale worth Rs. 750 lakh and to meet their long-term working capital requirements of Rs. 1,000 lakh, besides general corporate purposes amounting to Rs. 587 lakh and issue expenses of Rs. 250 lakh.
The promoter, Deepak Chaudhari, holds 80,17,600 equity shares comprising of 71.97 per cent of the pre-issue capital.

The Jalgaon-based company is engaged in the manufacturing and designing of electrical, automobile and irrigation components. The company also offers services that include global sourcing, quality testing, packaging and logistics. The total revenue of the company was Rs. 11,983.24 lakh as on March 31, 2018, as against total revenue of Rs. 659.77 lakh on March 31, 2017. The PAT was at Rs. 590.32 lakh in March 2018 compared to Rs. 53.27 lakh in March 2017.

Sky Gold Private Limited launched a fixed price issue IPO that is open until September 21, 2018. The issue includes 14,20,000 equity shares priced at Rs. 180 per share, amounting to a total of Rs. 25.56 crore. The shares will be listed on BSE under SME. The funds raised will be utilized for repayment of loans, funding working capital requirements and for general corporate purposes.

Sky Gold is a Mumbai-based company engaged in the manufacturing, designing and marketing of gold jewellery. The operations are conducted in a 2,740 sq. ft manufacturing facility in Mulund, Mumbai. Moreover, the company has established sales offices in Kerala and Telangana to serve the Southern regions of India. In the period between 2013-14 and 2017-18, the total revenue grew at a CAGR of 41.65 per cent, from Rs. 9,624.74 lakh to Rs. 54,886.27 lakh. During the same period, the EBITDA grew at a CAGR of 16.42 per cent, from Rs. 359.85 lakh to Rs. 769.71 lakh; while PAT increased at a CAGR of 32.80 per cent, from Rs. 63.59 lakh to Rs. 262.64 lakh.

Meanwhile, the much-awaited book building IPO of Garden Reach Ship is all set to launch on September 24, 2018. The issue includes 2,92,10,760 equity shares, with a face value of Rs. 10 per share, priced within the range of Rs. 115 to Rs. 118. The shares will be listed on the BSE and NSE, and the minimum order quantity is 120 shares. The issue closes on September 26, 2018. The primary intent of this IPO is to execute the disinvestment of 2,00,46,600 equity shares by the central government.

Garden Reach Shipbuilders is a government company under the administrative control of the Ministry of Defence. They cater to the shipbuilding requirements of the Indian Navy as well as the Indian Coast Guard. Besides ship and warship building, they are also engaged in engine production activities. They operate an engineering division that manufactures desk machinery items, pre-fabricated portable steel bridges and marine pumps. The company reported revenue of Rs. 1,525.20 crore for the year ended March 2018, as against revenue of Rs. 1,629.40 crore for the year ended March 2015, posting a loss of 6.39 per cent. However, the profit surged 67.89 per cent, to Rs. 86.8 crore for the year ended March 2018 versus Rs. 51.7 crore for the year ended March 2015. The company reported an EPS of Rs. 7.14 for FY18 while the 3 years average EPS was Rs. 6.