New Swan Multitech
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 11 Jan 2024 – 15 Jan 2024
- Listing date
- 18 Jan 2024
- Face value
- ₹10 per share
- Issue price
- ₹66 per share
- Lot size
- 2,000 shares
- Issue type
- Book Building issue
- Total issue size
- ₹33.11 Cr
- Market cap at offer price
- ₹126 Cr
- Promoter holding
- 100.00% → 73.62% pre-issue → post-issue
- ISIN
- INE0GEN01012
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Hem Securities Ltd.
- Registered office
- 310, Vardhman Crown Mall, Plot No.2, Sector-19, District Court Complex, Dwarka, 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 |
|---|---|---|---|
| Anchor investor · within QIB | 14,28,000 | — | — |
| Market maker | 2,56,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹66
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,32,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,64,000 |
| S-HNI (max) | 7 | 14,000 | ₹9,24,000 |
| B-HNI (min) | 8 | 16,000 | ₹10,56,000 |
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.
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 (₹) | 7.09 | 5.22 |
| P/E (×) | 9.31 | 12.64 |
| Price to book (×) | 0.00 | — |
| Market cap | — | ₹126 Cr |
Key performance indicators
- Return on net worth
- 33.27%
- ROCE
- 24.86%
- Debt / equity
- 1.31
- PAT margin
- 6.56%
- NAV per share
- ₹21.30
- Price to book
- 0.00
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About New Swan Multitech
New Swan Multitech Limited ('NSML'), incorporated on March 03, 2014 in Delhi, is an engineering-led manufacturer spanning two industries. It manufactures complex and critical precision-engineered components for the automotive sector — precision machined tubular assemblies, welded assemblies, precision brackets and sheet metal parts for two-wheeler and passenger-car vehicles — at its owned unit at Village Vithlapur, Ahmedabad, Gujarat (established FY 2015-16), and designs and manufactures agricultural implements (rotovators, seeders/super seeders, weeders, potato planter/digger, fertilizer spreader, mulcher, puddler, laser land leveller, disc ploughs) at its owned unit at Village Raian, Ludhiana, Punjab (established FY 2014-15). It earns money by manufacturing and selling these products: auto components are supplied largely directly to OEMs — Honda Motorcycle and Scooter India (HMSI, its largest customer at 50.12% of FY23 revenue; top five customers 71.21%), MG Motors and Mahindra & Mahindra — while agricultural implements are sold through a network of over 200 dealers across 11 states and supplied to OEMs such as Mahindra & Mahindra and John Deere India Pvt. Ltd.; exports to Mauritius, Russia, Kazakhstan, South Africa, Sudan and Nepal contributed 2.08% of FY23 revenue. Its portfolio exceeds 300 SKUs, backed by 5 registered designs and multiple trademarks. FY2023 restated consolidated revenue from operations was ₹15,116.04 lakhs (60.70% auto components, 37.13% agricultural implements, balance scrap/other) with PAT of ₹991.93 lakhs; the company employed ~194 staff, and its wholly owned subsidiary Swan Agro Rus LLC (Russia) currently has no operations.
Company Analysis
from DRHPNew Swan Multitech Limited is an Indian engineering-led manufacturer of complex and critical precision engineered components and parts used in the automotive sector ('auto components') and of agricultural implements designed to meet the diverse needs of modern farming.
New Swan Multitech Limited ('NSML'), incorporated on March 03, 2014 in Delhi, is an engineering-led manufacturer spanning two industries. It manufactures complex and critical precision-engineered components for the automotive sector — precision machined tubular assemblies, welded assemblies, precision brackets and sheet metal parts for two-wheeler and passenger-car vehicles — at its owned unit at Village Vithlapur, Ahmedabad, Gujarat (established FY 2015-16), and designs and manufactures agricultural implements (rotovators, seeders/super seeders, weeders, potato planter/digger, fertilizer spreader, mulcher, puddler, laser land leveller, disc ploughs) at its owned unit at Village Raian, Ludhiana, Punjab (established FY 2014-15). It earns money by manufacturing and selling these products: auto components are supplied largely directly to OEMs — Honda Motorcycle and Scooter India (HMSI, its largest customer at 50.12% of FY23 revenue; top five customers 71.21%), MG Motors and Mahindra & Mahindra — while agricultural implements are sold through a network of over 200 dealers across 11 states and supplied to OEMs such as Mahindra & Mahindra and John Deere India Pvt. Ltd.; exports to Mauritius, Russia, Kazakhstan, South Africa, Sudan and Nepal contributed 2.08% of FY23 revenue. Its portfolio exceeds 300 SKUs, backed by 5 registered designs and multiple trademarks. FY2023 restated consolidated revenue from operations was ₹15,116.04 lakhs (60.70% auto components, 37.13% agricultural implements, balance scrap/other) with PAT of ₹991.93 lakhs; the company employed ~194 staff, and its wholly owned subsidiary Swan Agro Rus LLC (Russia) currently has no operations.
Objects of the Issue
- Funding of capital expenditure towards purchase of certain machineries for existing manufacturing unit located at Raian, Ludhiana ₹ 479.14 lakhs p.68
- Repayment of a portion of certain borrowing availed by our Company ₹ 950.00 lakhs p.70
- To meet working capital requirements p.70
- General Corporate Purpose p.71
Issue Structure
- Total Issue
- Upto 50,16,000 Equity Shares of face value ₹ 10 each aggregating to ₹ [●] Lakhs (constituting 26.38% of the post-issue paid-up equity share capital)
- Fresh Issue
- Entire Issue constitutes a Fresh Issue of upto 50,16,000 Equity Shares of ₹ 10 each (₹ [●] Lakhs)
- Offer for Sale
- Nil
- Face Value
- ₹ 10/- each
Business Model
Manufacturer-seller model: revenue comes from the sale of precision-engineered auto components, mostly supplied directly to OEMs (notably Honda Motorcycle & Scooter India), and agricultural implements distributed via a 200+ dealer network across 11 states plus OEM supply agreements (Mahindra & Mahindra, John Deere India), supplemented by exports (2.08% of FY23 revenue) and scrap sales; sales are generally order-driven against customer purchase orders/schedules rather than firm long-term supply agreements.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Upkar Singh | Promoter (Chairman & Managing Director) | 99.998% | — |
| Kanwardeep Singh | Promoter (Executive Director) | Negligible (40 Equity Shares) | — |
| Barunpreet Singh Ahuja | Promoter (Whole-Time Director) | Negligible (40 Equity Shares) | — |
Leadership
Auto-extracted from the company's DRHP 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 DRHP before relying on it.