Sahaj Fashions
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 25 Aug 2023 – 29 Aug 2023
- Listing date
- 06 Sep 2023
- Face value
- ₹10 per share
- Issue price
- ₹30 per share
- Lot size
- 4,000 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹13.96 Cr
- Market cap at offer price
- ₹39.50 Cr
- Promoter holding
- 97.95% → 64.65% pre-issue → post-issue
- ISIN
- INE013901017
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Khambatta Securities Ltd.
- Registered office
- Shree Bhawan, Ajmer Road, Madanganj, Kishangarh, Rajasthan
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 | 2,36,000 | — | — |
Application size
Minimum 4,000 shares per lot, in multiples, at ₹30
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 4,000 | ₹1,20,000 |
| S-HNI (min) | 2 | 8,000 | ₹2,40,000 |
| S-HNI (max) | 8 | 32,000 | ₹9,60,000 |
| B-HNI (min) | 9 | 36,000 | ₹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.
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 |
|---|---|---|
| Market cap | — | ₹39.50 Cr |
Key performance indicators
- NAV per share
- ₹19.37
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Sahaj Fashions
Sahaj Fashions Limited, incorporated in 2011 and converted to public limited company in 2018, is engaged in manufacturing of high standard fabric used for garments, home furnishings, and industrial applications. The company has expertise in manufacturing primarily cotton suiting fabric and cotton shirting fabric apart from polyester based and cotton-polyester blended fabrics. The company also manufactures cotton yarn dyed fabrics which are in demand by the garment manufacturing industry. The company operates two manufacturing facilities in Kishangarh, Rajasthan - Unit 1 for weaving and Unit 2 for sizing. The company has international machinery from Japan and Germany, in-house preparatory capacity through backward integration, and serves customers primarily on B2B basis. Sales have penetrated Rajasthan and other states including Gujarat, Maharashtra, Haryana and Delhi. For the period ended February 28, 2023, the company reported revenue from operations of Rs. 9,097.58 lakhs and profit after tax of Rs. 288.71 lakhs.
Company Analysis
from RHPSahaj Fashions Limited manufactures high-standard cotton suiting and shirting fabrics for garments, home furnishings, and industrial applications across textiles sector.
Sahaj Fashions Limited, incorporated in 2011 and converted to public limited company in 2018, is engaged in manufacturing of high standard fabric used for garments, home furnishings, and industrial applications. The company has expertise in manufacturing primarily cotton suiting fabric and cotton shirting fabric apart from polyester based and cotton-polyester blended fabrics. The company also manufactures cotton yarn dyed fabrics which are in demand by the garment manufacturing industry. The company operates two manufacturing facilities in Kishangarh, Rajasthan - Unit 1 for weaving and Unit 2 for sizing. The company has international machinery from Japan and Germany, in-house preparatory capacity through backward integration, and serves customers primarily on B2B basis. Sales have penetrated Rajasthan and other states including Gujarat, Maharashtra, Haryana and Delhi. For the period ended February 28, 2023, the company reported revenue from operations of Rs. 9,097.58 lakhs and profit after tax of Rs. 288.71 lakhs.
Objects of the Issue
- Funding Working Capital Requirements ₹668.00 Lakhs p.78
- Prepayment/repayment of certain secured borrowings availed by our Company ₹420.00 Lakhs p.78
- General Corporate Purpose ₹194.80 Lakhs p.78
- Offer Expenses ₹60.00 Lakhs p.78
Issue Structure
- Total Issue
- ₹1,395.60 Lakhs
- Fresh Issue
- ₹1,342.80 Lakhs (44,76,000 Equity Shares at ₹30 per share)
- Offer for Sale
- ₹52.80 Lakhs (1,76,000 Equity Shares at ₹30 per share)
- Price Band
- Fixed at ₹30 per Equity Share
- Lot Size
- 4,000 Equity Shares and in multiples thereof
- Face Value
- ₹10 per Equity Share
Business Model
The company primarily follows a B2B (business-to-business) model. Customers buy fabric from the company for further sale or to produce suitings, shirtings, trousers, blazers for various brands. Majority of work is on order basis. After receiving an order, the company analyzes required raw material specifications and designs, processes the order with best quality results, and supplies finished goods for customer approval before dispatch.
Business Segments
SWOT Analysis
- • Experienced promoter team with decades of industry presence(p.104)
- • Repeat customer orders reflecting satisfaction and quality(p.103)
- • Backward integration through in-house sizing plant(p.103)
- • Ability to exceed installed capacity through outsourced job work(p.103)
- • Strong international machinery and technology(p.103)
- • High dependence on limited number of customers(p.26)
- • Working capital intensive business requiring high inventory levels(p.28)
- • High concentration of trade receivables(p.25)
- • Manufacturing facilities mortgaged to bank(p.29)
- • Dependence on third-party transportation with no written agreements(p.27)
- • Growth in global textile and apparel market demand(p.95)
- • Expansion into export markets with specialized products(p.104)
- • Rising Indian textile and apparel market growth(p.96)
- • Government support schemes and PLI incentives for textile sector(p.95)
- • Brand building and market expansion initiatives(p.104)
- • Volatility in raw material prices affecting profitability(p.24)
- • Fluctuations in revenues and profits(p.25)
- • Intense competition from domestic competitors(p.109)
- • Electricity and water supply constraints(p.32)
- • Global economic slowdown impacting demand(p.39)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Rohit Toshniwal | Promoter | 15.31% | 10.10% |
| Ms. Sadhana Toshniwal | Promoter | 15.55% | 10.26% |
| Mr. Norat Mal Choudhary | Promoter | 12.80% | 8.44% |
| Ms. Prabha Lakhotia | Promoter | 13.45% | 8.87% |
| Mr. Rakesh Choudhary | Promoter | 2.08% | 1.38% |
| Mr. Mukul Lakhotia | Promoter | — | — |
| Mr. Nitin Toshniwal | Promoter | 1.48% | 0.98% |
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.