Bombay Metrics Supply Chain SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 30 Sep 2021 – 04 Oct 2021
- Listing date
- 12 Oct 2021
- Face value
- ₹10 per share
- Issue price
- ₹93 per share
- Lot size
- 1,200 shares
- Total issue size
- ₹4.29 Cr
- Market cap at offer price
- ₹14.31 Cr
- Promoter holding
- 99.72% → 69.87% pre-issue → post-issue
- ISIN
- INE0I3Y01014
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Unistone Capital Pvt.Ltd.
- Registered office
- 201/Quantum Towers, Ram Baug lane, Near Chincholi Petrol Pump, S.V.Road, Malad (West), Maharashtra
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 | 24,000 | — | — |
Application size
Minimum 1,200 shares per lot, in multiples, at ₹93
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,11,600 |
| S-HNI (min) | 2 | 2,400 | ₹2,23,200 |
| S-HNI (max) | 8 | 9,600 | ₹8,92,800 |
| B-HNI (min) | 9 | 10,800 | ₹10,04,400 |
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 |
|---|---|---|
| Market cap | — | ₹14.31 Cr |
About Bombay Metrics Supply Chain SME
Bombay Metrics Supply Chain Limited, originally incorporated on March 28, 2015, and converted to a public limited company in May 2021, is a full-service provider of manufacturing engineering and supply chain management services. The company focuses on the 'Make in India' initiative by developing supplier capabilities in India and helping customers find qualified manufacturing sources. The company operates primarily through outsourced manufacturing with suppliers while providing supply chain management, quality oversight, and logistics coordination. Revenue from operations grew from Rs. 763.63 lakhs in FY2018 to Rs. 3,230.13 lakhs in FY2021, with approximately 93% of revenue derived from exports to a single major customer, MES Inc., based in the USA.
Company Analysis
from RHPBombay Metrics Supply Chain Limited is a full-service provider of manufacturing engineering and supply chain management services, offering advanced engineering, 3D scanning, rapid prototyping, and logistics support primarily to international customers.
Bombay Metrics Supply Chain Limited, originally incorporated on March 28, 2015, and converted to a public limited company in May 2021, is a full-service provider of manufacturing engineering and supply chain management services. The company focuses on the 'Make in India' initiative by developing supplier capabilities in India and helping customers find qualified manufacturing sources. The company operates primarily through outsourced manufacturing with suppliers while providing supply chain management, quality oversight, and logistics coordination. Revenue from operations grew from Rs. 763.63 lakhs in FY2018 to Rs. 3,230.13 lakhs in FY2021, with approximately 93% of revenue derived from exports to a single major customer, MES Inc., based in the USA.
Objects of the Issue
- To part finance Working Capital Requirements of the Company ₹343.54 lakhs p.20
- General Corporate Purposes ₹43.00 lakhs p.20
- Issue Related Expenses ₹42.00 lakhs p.20
- Working Capital Requirements ₹343.54 lakhs p.87
- General Corporate Purposes ₹43.00 lakhs p.87
- Issue Expenses ₹42.00 lakhs p.87
- This section is not provided in the document excerpt supplied (Part 3 of 5)
Issue Structure
- Total Issue
- ₹428.54 lakhs
- Fresh Issue
- 4,60,800 Equity Shares of Face Value of Rs. 10 each at Rs. 93 per equity share aggregating to Rs. 428.54 lakhs
- Price Band
- ₹93 per equity share
- Lot Size
- 1200 equity shares
- Face Value
- ₹10 per equity share
Business Model
The company earns revenue through manufacturing engineering and supply chain management services. It sources products from qualified, ISO-certified suppliers in India, manages supply chain operations, coordinates logistics partners, and ensures optimal execution and quality for customers. The company does not own manufacturing facilities; 100% of manufacturing is outsourced to suppliers. Revenue is generated through the sale of engineered goods and supply chain services.
Business Segments
SWOT Analysis
- • Full-service provider of manufacturing engineering and supply chain management with advanced capabilities(p.20)
- • Positioned to benefit from Make in India initiative by developing supplier capabilities(p.20)
- • Established relationship with major customer MES Inc. with consistent revenue growth(p.26)
- • Strong net worth growth from ₹51.39 lakhs (2018) to ₹416.24 lakhs (2021)(p.21)
- • Wide product and services portfolio with focus on quality(p.120)
- • Established relationship with well-connected customer MES, Inc.(p.121)
- • Experienced management team with industry expertise(p.121)
- • Asset light business model requiring minimal capital expenditure(p.122)
- • ISO certification and quality control focus(p.121)
- • Strong revenue and profitability growth trajectory(p.120)
- • Established IT infrastructure enabling global coordination(p.130)
- • Rigorous quality management embedded throughout supply chain(p.131)
- • Comprehensive global and domestic logistics capabilities(p.131)
- • Proven track record of revenue growth(p.140)
- • Government recognition as exporter(p.140)
- • Full-service supply chain and manufacturing provider with advanced engineering capabilities(p.205)
- • Strong revenue growth trajectory over the period(p.206)
- • Positive net worth and profitability(p.222)
- • Beneficiary positioning under Make in India initiative(p.205)
- • Heavily dependent on single major customer MES Inc. for 93.24% of revenue with no long-term formal arrangements(p.26)
- • All manufacturing outsourced to third-party suppliers with no long-term supplier agreements(p.31)
- • Company does not own operating properties; all properties are leased(p.39)
- • Negative operating cash flow in FY2021 and FY2018(p.30)
- • Outstanding litigation against company and directors with quantifiable financial implications(p.22)
- • Company has unsecured loan from directors/promoters that may be recalled at any time(p.33)
- • Company has not registered any trademarks and uses graphical logo from customer MES Inc. without guarantee of continued use(p.28)
- • High dependence on single major customer(p.122)
- • Limited domestic market presence and revenue(p.120)
- • Vulnerability to manufacturing supply disruptions(p.120)
- • Heavy dependence on single customer MES Inc.(p.134)
- • No formal long-term agreement with major customer(p.133)
- • Small employee base with limited management depth(p.132)
- • Group company MES Inc. has incurred past losses(p.168)
- • No registered intellectual property(p.135)
- • Dependence on limited customer base(p.210)
- • Declining profit after tax despite revenue growth(p.206)
- • Negative cash flow from operations in FY2021(p.212)
- • Substantial outstanding dues to material creditors(p.215)
- • Expansion to new geographical markets and customer base beyond USA(p.26)
- • Sourcing office established in India (Coimbatore) to expand supplier network and market reach(p.39)
- • Growing SCM importance across industries; SCM influences 64% of manufacturing costs(p.20)
- • Geographic expansion into new international markets(p.122)
- • Expansion of supplier network and supplier development(p.122)
- • Establish presence in domestic market(p.122)
- • Make in India initiative and government support for manufacturing(p.119)
- • Technology enhancements and digital transformation opportunities(p.123)
- • Expansion to new customers beyond MES Inc.(p.132)
- • Business opportunity from new customer segments(p.140)
- • Government 'Make in India' initiative support(p.129)
- • Potential to leverage supplier development capabilities(p.130)
- • Capacity to aid in developing supplier capabilities in India(p.205)
- • Expansion through supply chain optimization and logistics coordination(p.205)
- • Substantial revenue exposure to USA market (93.24% of exports) subject to macroeconomic conditions(p.27)
- • Foreign exchange rate fluctuations impact profitability and competitiveness(p.32)
- • Withdrawal or modification of government export benefits (MEIS) reduces cost competitiveness(p.32)
- • Changes in import-export policies and tariffs could disrupt operations and increase costs(p.31)
- • COVID-19 pandemic and potential future pandemics causing operational disruptions and demand decline(p.44)
- • Highly competitive market with established players and limited differentiation(p.33)
- • Regulatory changes and increased compliance requirements could disrupt operations and increase costs(p.35)
- • Supplier dependence creates vulnerability to supply chain disruptions and labor issues(p.35)
- • COVID-19 pandemic impact on manufacturing and demand(p.120)
- • Global supply chain disruptions affecting operations(p.120)
- • Intense global manufacturing competition(p.106)
- • Dependence on international trade and export markets(p.120)
- • Vulnerability to currency fluctuations and trade policies(p.106)
- • Intense competition with no significant differentiation(p.133)
- • Potential disruption from competitors with stronger customer relationships(p.133)
- • Risk of new competitive entrants(p.133)
- • Export incentive scheme reduced and withdrawn(p.135)
- • Operational risks inherent in supply chain operations(p.132)
- • General economic and business cyclicality(p.205)
- • Regulatory and tax changes impacting operations(p.205)
- • Pandemic-related business disruptions(p.205)
- • Intense competitive pressure from new entrants(p.205)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Nipul Keniya | Promoter | 36.29% | — |
| Hiten T Shah | Promoter | 35.24% | — |
| Heena Shah | Promoter Group | 28.19% | — |
| Nipul Keniya | Promoter | 36.29% | 25.43% |
| Hiten T Shah | Promoter | 35.24% | 24.69% |
| Heena Shah | Promoter Group | 28.19% | 19.81% |
| Nipul Hirji Keniya | Promoter | 36.29% | 25.43% |
| Hiten Talakchand Shah | Promoter | 35.24% | 24.69% |
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.