Auro Impex & Chemicals
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 11 May 2023 – 15 May 2023
- Listing date
- 23 May 2023
- Face value
- ₹10 per share
- Issue price
- ₹78 per share
- Lot size
- 1,600 shares
- Total issue size
- ₹27.07 Cr
- Market cap at offer price
- ₹95.17 Cr
- Promoter holding
- 99.99% → 71.55% pre-issue → post-issue
- ISIN
- INE0NUL01018
- Registrar
- Cameo Corporate Services Ltd.
- Lead managers
- Affinity Global Capital Market Pvt.Ltd.
- Registered office
- 32 K.L.Saigal Sarani, 740A, Block-P, New Alipore, West Bengal
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 1,74,400 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹78
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,24,800 |
| S-HNI (min) | 2 | 3,200 | ₹2,49,600 |
| S-HNI (max) | 8 | 12,800 | ₹9,98,400 |
| B-HNI (min) | 9 | 14,400 | ₹11,23,200 |
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.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 6.00 | — |
| P/E (×) | 13.00 | — |
| Market cap | — | ₹95.17 Cr |
Key performance indicators
- Return on net worth
- 19.92%
- Debt / equity
- 2.77
- PAT margin
- 4.00%
- NAV per share
- ₹18.91
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Auro Impex & Chemicals
Originally incorporated as Auro Impex & Chemicals Private Limited on January 20, 1994 at Kolkata, West Bengal (converted into a public limited company in September 2022, CIN U51909WB1994PLC061514), the company grew out of the promoters' proprietorship trading concern 'Auro Enterprises' (started 1989 in foundry flexes and ferro/non-ferrous alloys). In 2011, responding to demand for air pollution control, it set up a 2.44-acre integrated manufacturing facility at Dhaniakhali, Hooghly, West Bengal to make ESP internals for American and European designs. It manufactures (i) Collecting Electrodes, (ii) Discharge Electrodes, (iii) electro-magnetic rappers, (iv) Tank and Duct Fabrication and (v) other ESP internal spare parts, made to designs/specifications supplied by OEMs and service providers, with joint inspection by the OEM, end-user and company before dispatch; it sells to renowned OEMs such as Thermax Limited, Larsen & Toubro Limited, KC Cottrell India Private Limited, Isgec Heavy Engineering Limited, GE Power India Ltd. and others, and is an approved NTPC vendor. In FY2023 the facility had an installed capacity of 17,500 M.T. and produced 15,065 M.T. (86.08% utilization) across three shifts, generating consolidated revenue from operations of ₹23,198.94 lakhs and PAT of ₹599.92 lakhs (standalone revenue ₹18,138.27 lakh and PAT ₹557.11 lakh). It also won a developmental tender from Integral Coach Factory, Chennai for Trough Floor for Railway Coaches (LOA dated July 22, 2022) and orders from Ministry of Railways (January 24, 2023), and is building a new unit to assemble/test High Frequency Transformer Rectifier (HFTR) units for an international brand. Its subsidiary Auro Industries Ltd. (incorporated 1995) deals in foundry flexes, ferrous/non-ferrous alloys, batteries, exports battery-plate parts and ESP parts, and entered wholesale tyre distribution in 2020. The business is led by promoters Mr. Madhusudan Goenka (Managing Director) and Mr. Praveen Kumar Goenka (Whole-time Director), with Ms. Vanshika Goenka (daughter of Mr. Madhusudan Goenka) handling overall management and business development.
Company Analysis
from RHPAuro Impex & Chemicals Limited is an ISO 9001:2015 certified, Kolkata-headquartered manufacturer of Collecting Electrodes, Discharge Electrodes, electro-magnetic rappers and other internal components and spare parts of Electrostatic Precipitators (ESPs) — air pollution control filtration devices used in steel, sponge iron, cement and thermal power industries — with trading and distribution operations through its subsidiary Auro Industries Ltd.
Originally incorporated as Auro Impex & Chemicals Private Limited on January 20, 1994 at Kolkata, West Bengal (converted into a public limited company in September 2022, CIN U51909WB1994PLC061514), the company grew out of the promoters' proprietorship trading concern 'Auro Enterprises' (started 1989 in foundry flexes and ferro/non-ferrous alloys). In 2011, responding to demand for air pollution control, it set up a 2.44-acre integrated manufacturing facility at Dhaniakhali, Hooghly, West Bengal to make ESP internals for American and European designs. It manufactures (i) Collecting Electrodes, (ii) Discharge Electrodes, (iii) electro-magnetic rappers, (iv) Tank and Duct Fabrication and (v) other ESP internal spare parts, made to designs/specifications supplied by OEMs and service providers, with joint inspection by the OEM, end-user and company before dispatch; it sells to renowned OEMs such as Thermax Limited, Larsen & Toubro Limited, KC Cottrell India Private Limited, Isgec Heavy Engineering Limited, GE Power India Ltd. and others, and is an approved NTPC vendor. In FY2023 the facility had an installed capacity of 17,500 M.T. and produced 15,065 M.T. (86.08% utilization) across three shifts, generating consolidated revenue from operations of ₹23,198.94 lakhs and PAT of ₹599.92 lakhs (standalone revenue ₹18,138.27 lakh and PAT ₹557.11 lakh). It also won a developmental tender from Integral Coach Factory, Chennai for Trough Floor for Railway Coaches (LOA dated July 22, 2022) and orders from Ministry of Railways (January 24, 2023), and is building a new unit to assemble/test High Frequency Transformer Rectifier (HFTR) units for an international brand. Its subsidiary Auro Industries Ltd. (incorporated 1995) deals in foundry flexes, ferrous/non-ferrous alloys, batteries, exports battery-plate parts and ESP parts, and entered wholesale tyre distribution in 2020. The business is led by promoters Mr. Madhusudan Goenka (Managing Director) and Mr. Praveen Kumar Goenka (Whole-time Director), with Ms. Vanshika Goenka (daughter of Mr. Madhusudan Goenka) handling overall management and business development.
Objects of the Issue
- Funding incremental working capital requirements of our Company ₹ 1,508.00 lakhs p.78
- General Corporate Purposes ₹ 364.88 lakhs p.76
- To meet the issue expenses (Offer Related Expenses) ₹ 404.72 lakhs p.76
Issue Structure
- Total Issue
- Up to 34,70,400 Equity Shares of face value of ₹ 10 each aggregating up to ₹ 2,706.91 lakhs (28.44% of the post-issue paid-up equity share capital)
- Fresh Issue
- Up to 29,20,000 Equity Shares aggregating up to ₹ 2,277.60 lakhs
- Offer for Sale
- Up to 5,50,400 Equity Shares aggregating up to ₹ 429.31 lakhs by Mr. Madhusudan Goenka (Selling Shareholder)
- Price Band
- ₹ 74.00 to ₹ 78.00 per Equity Share (Floor Price ₹ 74, Cap Price ₹ 78); Offer Price fixed at ₹ 78 per share (including share premium of ₹ 68)
- Lot Size
- Minimum bid lot of 1,600 Equity Shares and multiples thereof
- Face Value
- ₹ 10 each
Business Model
Revenue comes from manufacturing ESP internal components (Collecting Electrodes, Discharge Electrodes, EM rappers, tank/duct fabrication, silos and spares) against purchase orders from OEMs and Service Providers, priced off raw material costs (CRCA coil, HR sheet, Corten steel) plus intended margins, with quality jointly inspected by the company, OEM and end user before dispatch; a smaller stream comes from trading and distribution through subsidiary Auro Industries Ltd. (foundry flexes, alloys, batteries, tyre wholesale distribution and merchant exports).
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Madhusudan Goenka | Promoter (Managing Director); Selling Shareholder in the Offer for Sale of up to 5,50,400 Equity Shares | 86.07% | 60.96% |
| Mr. Praveen Kumar Goenka | Promoter (Whole-time Director) | 5.17% | 3.93% |
| Ms. Vanshika Goenka | Promoter Group (Non-Executive Director) | 8.70% | 6.62% |
| Madhusudan Goenka (HUF) | Promoter Group | 0.01% | 0.01% |
| Ms. Rajani Goenka | Promoter Group | 0.01% | 0.01% |
| Grey Engineering Works Limited | Promoter Group | 0.01% | 0.01% |
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.