A G Universal
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 11 Apr 2023 – 13 Apr 2023
- Listing date
- 24 Apr 2023
- Face value
- ₹10 per share
- Issue price
- ₹60 per share
- Lot size
- 2,000 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹8.72 Cr
- Market cap at offer price
- ₹32.90 Cr
- Promoter holding
- 95.53% → 70.20% pre-issue → post-issue
- ISIN
- INE0O6N01012
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Share India Capital Services Pvt.Ltd.
- Registered office
- F-1, 34/1, Vikas Apartments, East Punjabi Bagh, West, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 74,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹60
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,20,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,40,000 |
| S-HNI (max) | 8 | 16,000 | ₹9,60,000 |
| B-HNI (min) | 9 | 18,000 | ₹10,80,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 5.07 | — |
| P/E (×) | 11.83 | — |
| Market cap | — | ₹32.90 Cr |
Key performance indicators
- Return on net worth
- 16.91%
- ROCE
- 13.49%
- Debt / equity
- 1.41
- PAT margin
- 1.00%
- NAV per share
- ₹1.29
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About A G Universal
A G Universal Limited was originally incorporated as Akshata Polymers Private Limited on May 21, 2008, and subsequently changed its name to A G Universal Private Limited in 2013. It was converted to a public limited company in November 2022. The company deals in trading of various products including Stainless Steel Pipes, Mild Steel Pipes, ERW Black Pipes, GI Pipes, Hollow Sections, uPVC Pipes, cPVC Pipes, TMT Bars, CR Coils and HR Coils. It acts as a dealer for major suppliers including Surya Roshni Limited, Jindal Supreme (India) Private Limited, Swastik Pipe Limited, Ravindra Tubes Private Limited, and SKS Ispat & Power Ltd. The company has strengthened its position as one of the suppliers of high-end industrial MS Tubes, GI Pipes, and Hollow Sections.
Company Analysis
from RHPA G Universal Limited is a trading company dealing in various metal and pipe products including stainless steel pipes, mild steel pipes, GI pipes, and TMT bars, operating primarily in the Delhi region.
A G Universal Limited was originally incorporated as Akshata Polymers Private Limited on May 21, 2008, and subsequently changed its name to A G Universal Private Limited in 2013. It was converted to a public limited company in November 2022. The company deals in trading of various products including Stainless Steel Pipes, Mild Steel Pipes, ERW Black Pipes, GI Pipes, Hollow Sections, uPVC Pipes, cPVC Pipes, TMT Bars, CR Coils and HR Coils. It acts as a dealer for major suppliers including Surya Roshni Limited, Jindal Supreme (India) Private Limited, Swastik Pipe Limited, Ravindra Tubes Private Limited, and SKS Ispat & Power Ltd. The company has strengthened its position as one of the suppliers of high-end industrial MS Tubes, GI Pipes, and Hollow Sections.
Objects of the Issue
- To meet the Working Capital Requirements of our Company ₹610.53 Lakh p.16
- General Corporate Purposes ₹205.00 Lakh p.16
- Issue Expense ₹56.87 Lakh p.16
- To meet the Working Capital requirement of our Company ₹610.53 lakhs p.76
- General Corporate Purposes ₹205.00 lakhs p.76
- Issue related expenses ₹56.87 lakhs p.76
Issue Structure
- Total Issue
- ₹872.40 Lakh (1454000 Equity Shares at ₹60 per share)
- Fresh Issue
- 1454000 Equity Shares of face value of ₹10/- each fully paid-up for cash at price of ₹60 per Equity Share (including share premium of ₹50 per Equity Share) aggregating to ₹872.40 Lakhs
- Offer for Sale
- NIL - The entire issue constitutes fresh issue of equity shares
- Price Band
- ₹60 per Equity Share (Fixed Price Issue)
- Lot Size
- 2000 Equity Shares as minimum allotment and in multiples of 2000 thereafter
- Face Value
- ₹10 per Equity Share
Business Model
A G Universal Limited operates as a trading company procuring inventory based on customer demand and requirements. The company works on a model wherein inventory/goods are procured based on demand or customer requirement and then sold to customers. The company acts as a dealer for major manufacturers and suppliers of steel and metal products.
Business Segments
SWOT Analysis
- • Established dealer relationships with major steel manufacturers(p.15)
- • Experienced promoter with strong industry network(p.28)
- • Diversified product portfolio across steel and pipes(p.15)
- • Experienced promoter with established network in trading community(p.102)
- • Strong existing client and supplier relationships generating repeat business(p.103)
- • Quality-focused organizational culture with continuous improvement processes(p.103)
- • Diversified product portfolio across multiple steel and pipe categories(p.99)
- • Expansion into manufacturing with aluminum plant acquisition for doors & windows(p.104)
- • Diverse product portfolio in steel and pipes sector(p.190)
- • Established dealer relationships with major manufacturers(p.190)
- • Strong profitability growth trajectory(p.195)
- • Improved leverage and debt management(p.196)
- • Revenue growth consistent across periods(p.193)
- • Statutory auditor and peer review auditor engagement confirmed(p.213)
- • Operating profit and positive net worth across all recent fiscal years(p.212)
- • Long-standing incorporation history meeting track record requirements(p.212)
- • Established regulatory compliance and approvals(p.208)
- • Negative operating cash flows in recent periods(p.23)
- • Heavy dependence on few major customers and suppliers(p.27)
- • No long-term contracts with customers(p.23)
- • Lack of registered trademark and IP protection(p.23)
- • Premises on short-term leases subject to renewal risk(p.24)
- • Past regulatory compliance delays and deficiencies(p.24)
- • Limited geographic presence concentrated in Delhi(p.25)
- • No independent monitoring of fund deployment(p.29)
- • Heavy reliance on top customers—top 5 customers represent 52-86% of revenue(p.105)
- • Limited insurance coverage; absence of comprehensive risk insurance(p.107)
- • Small workforce of only 11 employees as of November 30, 2022(p.106)
- • No formal quality control certifications or accreditations(p.107)
- • Highly competitive and fragmented market with larger competitors(p.106)
- • Significant dependence on few key customers(p.197)
- • High leverage and debt burden(p.188)
- • Negative operating cash flow in recent period(p.196)
- • Low cash reserves relative to debt obligations(p.196)
- • Modest equity base relative to scale of operations(p.156)
- • Unregistered trademark representing brand vulnerability(p.210)
- • No previous public issue experience(p.213)
- • No listed subsidiaries or group companies(p.214)
- • No investor complaints history but also no investor base track record(p.216)
- • Strong projected growth in Indian steel production capacity(p.15)
- • Rising per capita steel consumption in India(p.15)
- • Government support for steel industry expansion(p.15)
- • Sustained domestic demand driving industry growth(p.15)
- • Expansion into new geographic markets(p.25)
- • Expansion into aluminum door and window profiles for growing construction and solar sectors(p.104)
- • Growing Indian steel sector with 7.2% CAGR and National Steel Policy targeting 300 MT capacity by 2030-31(p.91)
- • Government infrastructure initiatives including highways, railways, and renewable energy expansion(p.85)
- • Rising per capita steel consumption in India targeting 160 kg by 2030-31(p.91)
- • Long-term growth in aluminum doors and windows market expected at 6.2% CAGR through 2027(p.97)
- • Strategy to increase sales volume, diversify product portfolio, and expand geographical presence(p.103)
- • Expansion into real estate and infrastructure projects(p.127)
- • Entry into stainless steel utensils and cookware segment(p.127)
- • Growing industrial demand driving sector expansion(p.190)
- • Import-export capability to access global markets(p.126)
- • Listing and trading platform access on NSE Emerge SME Exchange(p.209)
- • Market making arrangements for three years enhancing liquidity(p.226)
- • Potential migration to NSE Main Board after two years(p.226)
- • Dematerialized share infrastructure and depository partnerships in place(p.209)
- • Steel industry cyclicality and economic sensitivity(p.28)
- • Steel price volatility impacting trading margins(p.25)
- • Intense competition in steel trading segment(p.28)
- • Regulatory changes and compliance risks(p.33)
- • Macroeconomic slowdown risks(p.35)
- • Political instability and policy changes(p.34)
- • Natural calamities and regional disruptions(p.36)
- • Global economic volatility and external shocks(p.34)
- • Global economic slowdown and geopolitical uncertainties affecting international demand(p.82)
- • Persistent inflation and supply chain disruptions affecting raw material costs(p.82)
- • Dependence on principal suppliers with no formal dealership agreements(p.103)
- • Direct exposure to COVID-19 pandemic impacts on customer demand and business operations(p.106)
- • Intense competition from larger domestic and international companies with superior resources(p.106)
- • Regulatory compliance risks related to environmental laws, labor laws, and quality standards(p.109)
- • Economic cyclicality affecting steel and pipes demand(p.190)
- • Intense competition in steel trading sector(p.198)
- • Regulatory and policy changes affecting operations(p.190)
- • Pandemic-related business disruption risks(p.190)
- • Dependence on supplier relationships and market access(p.197)
- • 100% underwriting obligation carries execution risk(p.213)
- • Minimum 50 allottee requirement could result in full refund(p.225)
- • Lock-in period restrictions on pre-issue capital(p.225)
- • Regulatory and listing approval dependency(p.216)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Amit Gupta | Promoter/Chairman and Managing Director | 38.21% | — |
| Bharti Gupta | Promoter/Non-Executive Director | 48.14% | — |
| Amit Gupta | Promoter | 38.21% | 28.08% |
| Bharti Gupta | Promoter | 48.13% | 35.38% |
| Jai Hind Kumar Gupta | Promoter Group | 1.24% | 0.91% |
| Manisha Gupta | Promoter Group | 2.48% | 1.82% |
| Namita Garg | Promoter Group | 1.24% | 0.91% |
| Vinayak garg | Promoter Group | 1.24% | 0.91% |
| Vivek Garg (HUF) | Promoter Group | 2.97% | 2.18% |
| Amit Gupta | Individual Promoter | 38.21% | — |
| Bharti Gupta | Individual Promoter | 48.14% | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.