C P S Shapers
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 29 Aug 2023 – 31 Aug 2023
- Listing date
- 07 Sep 2023
- Face value
- ₹10 per share
- Issue price
- ₹185 per share
- Lot size
- 600 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹11.10 Cr
- Market cap at offer price
- ₹38.85 Cr
- Promoter holding
- 99.80% → 71.29% pre-issue → post-issue
- ISIN
- INE0QBU01012
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Shreni Shares Ltd.
- Registered office
- 201-204, 2nd Floor, Swamini Industrial Estate No 3, Opp.Varun Industries, Nanal Nagar, Waliv, Vasai East, 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 | 31,200 | — | — |
Application size
Minimum 600 shares per lot, in multiples, at ₹185
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 600 | ₹1,11,000 |
| S-HNI (min) | 2 | 1,200 | ₹2,22,000 |
| S-HNI (max) | 9 | 5,400 | ₹9,99,000 |
| B-HNI (min) | 10 | 6,000 | ₹11,10,000 |
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 (₹) | 16.41 | — |
| P/E (×) | 11.27 | — |
| Market cap | — | ₹38.85 Cr |
Key performance indicators
- Return on net worth
- 140.53%
- ROCE
- 28.00%
- Debt / equity
- 5.96
- PAT margin
- 6.68%
- EBITDA margin
- 13.37%
- NAV per share
- ₹11.67
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About C P S Shapers
Incorporated on June 01, 2012 as C P S Shapers Private Limited and converted into a public limited company renamed C P S Shapers Limited in May-June 2023, the company manufactures shapewear for men and women - including Saree Shapewear, Mini Shaper, Sports Bra, Mini Corset, Tummy Reducer, Zenrik, Slimmer, Active Pants, Denim and masks - under its brands 'Dermawear' (motto 'Shape up with Confidence') and 'YDIS' ('Your Dress Is Shapewear'), with compression fabrics made from a skin-friendly blend of cotton, polyester and spandex, double and triple layered for graduated compression at the abdomen, hips and thighs. It runs one manufacturing facility at Meerut, warehouses at Vasai (Maharashtra) and Tiruppur (Tamil Nadu), a branch office at Tiruppur and a virtual office at Bengaluru, and also outsources manufacture of innerwear, T-shirts and saree shapewear to Yamuna Tex and Senthur Tex under agreements running from March 01, 2023 to February 28, 2026. The company earns money by selling these products through a PAN-India distributor network (present in 28 states and 8 Union territories) that reaches retailers, through e-commerce platforms such as Amazon, Ajio, Flipkart, Myntra, Nykaa Fashion, Nykaa Retail and Snapdeal and its own website www.dermawear.co.in, and through exports to Canada, Germany, Australia, the United Kingdom and the United States of America. Revenue from operations grew from ₹ 1,439.12 Lakhs in FY2021 to ₹ 2,668.35 Lakhs in FY2022 and ₹ 3,681.45 Lakhs in FY2023, with profit after tax of ₹ 246.09 Lakhs in FY2023; the company allotted a 2:1 bonus issue of 10,00,000 shares on June 30, 2023 and is promoted by Mr. Abhishek Kamal Kumar and Mr. Rajendra Kumar, who have over 15 years of experience in the innerwear/shapewear industry.
Company Analysis
from RHPC P S Shapers Limited manufactures and sells shapewear and compression garments for men and women under the 'Dermawear' brand, operating in the Indian apparel/textile industry with both offline distributor and e-retail distribution.
Incorporated on June 01, 2012 as C P S Shapers Private Limited and converted into a public limited company renamed C P S Shapers Limited in May-June 2023, the company manufactures shapewear for men and women - including Saree Shapewear, Mini Shaper, Sports Bra, Mini Corset, Tummy Reducer, Zenrik, Slimmer, Active Pants, Denim and masks - under its brands 'Dermawear' (motto 'Shape up with Confidence') and 'YDIS' ('Your Dress Is Shapewear'), with compression fabrics made from a skin-friendly blend of cotton, polyester and spandex, double and triple layered for graduated compression at the abdomen, hips and thighs. It runs one manufacturing facility at Meerut, warehouses at Vasai (Maharashtra) and Tiruppur (Tamil Nadu), a branch office at Tiruppur and a virtual office at Bengaluru, and also outsources manufacture of innerwear, T-shirts and saree shapewear to Yamuna Tex and Senthur Tex under agreements running from March 01, 2023 to February 28, 2026. The company earns money by selling these products through a PAN-India distributor network (present in 28 states and 8 Union territories) that reaches retailers, through e-commerce platforms such as Amazon, Ajio, Flipkart, Myntra, Nykaa Fashion, Nykaa Retail and Snapdeal and its own website www.dermawear.co.in, and through exports to Canada, Germany, Australia, the United Kingdom and the United States of America. Revenue from operations grew from ₹ 1,439.12 Lakhs in FY2021 to ₹ 2,668.35 Lakhs in FY2022 and ₹ 3,681.45 Lakhs in FY2023, with profit after tax of ₹ 246.09 Lakhs in FY2023; the company allotted a 2:1 bonus issue of 10,00,000 shares on June 30, 2023 and is promoted by Mr. Abhishek Kamal Kumar and Mr. Rajendra Kumar, who have over 15 years of experience in the innerwear/shapewear industry.
Objects of the Issue
- Purchase of Plant and Machinery at our existing manufacturing facility ₹ 178.68 Lakhs p.84
- Purchase of Commercial Vehicle ₹ 9.53 Lakhs p.87
- Funding of capital expenditure requirements of our Company towards purchase of Solar Power System ₹ 21.00 Lakhs p.87
- Upgradation of existing IT Software at our existing manufacturing facility and registered office ₹ 18.20 Lakhs p.88
- Repayment or prepayment, in full or in part, of borrowings availed by our Company from banks and financial institutions ₹ 167.01 Lakhs p.90
- Funding Working Capital Requirements of our Company ₹ 405.58 Lakhs p.91
- General corporate purposes ₹ 182.00 Lakhs p.93
Issue Structure
- Total Issue
- 6,00,000 Equity Shares aggregating to ₹ 1,110.00 Lakhs
- Fresh Issue
- 6,00,000 Equity Shares aggregating to ₹ 1,110.00 Lakhs (entire issue is a fresh issue)
- Offer for Sale
- N.A. - not applicable as the entire issue constitutes fresh issue of equity shares
- Price Band
- No price band; 100% Fixed Price Issue at ₹ 185/- per Equity Share (including a premium of ₹ 175/- per Equity Share)
- Lot Size
- 600 Equity Shares and in multiples of 600 thereafter (minimum allotment of 600 Equity Shares)
- Face Value
- ₹ 10/- each
Business Model
The company earns revenue from the sale of its own-manufactured (and partly outsourced) shapewear and allied garments: offline sales through distributors across India who in turn sell to retailers contributed ₹ 2,409.26 Lakhs (65.44% of revenue from operations) in FY2023, while online sales through Amazon, Ajio, Flipkart, Myntra, Nykaa Fashion, Nykaa Retail, Snapdeal and its own website contributed ₹ 1,272.19 Lakhs (34.56%); exports added 2.36% of FY2023 revenue from operations.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Abhishek Kamal Kumar | Promoter | 76.00% | 54.29% |
| Mr. Rajendra Kumar | Promoter | 8.00% | 5.71% |
| Ms. Kamlesh Kamal Kumar | Promoter Group | 8.00% | 5.71% |
| Ms. Bhawana Abhishek Kumar | Promoter Group | 7.40% | 5.29% |
| Mr. Abhav K Kumar | Promoter Group | 0.20% | 0.14% |
| Ms. Ruchi Kumar | Promoter Group | 0.20% | 0.14% |
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.