SAR Televenture SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- Listing date
- 08 Nov 2023
- Face value
- ₹2 per share
- Issue price
- ₹55 per share
- Lot size
- 2,000 shares
- Total issue size
- ₹24.75 Cr
- Market cap at offer price
- ₹82.50 Cr
- Promoter holding
- 87.80% → 61.46% pre-issue → post-issue
- ISIN
- INE0PUC01020
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Pantomath Capital Advisors Pvt.Ltd.
- Registered office
- P.No 346A, 2nd Floor, Udyog Vihar, Phase-4, Haryana
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 | 12,72,000 | — | — |
| Market maker | 2,30,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹55
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,10,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,20,000 |
| S-HNI (max) | 9 | 18,000 | ₹9,90,000 |
| B-HNI (min) | 10 | 20,000 | ₹11,00,000 |
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 (₹) | 91.08 | — |
| P/E (×) | 0.60 | — |
| Market cap | — | ₹82.50 Cr |
Key performance indicators
- Return on net worth
- 32.95%
- Debt / equity
- 0.65
- PAT margin
- 11.94%
- NAV per share
- ₹36.11
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About SAR Televenture SME
SAR Televenture Limited was incorporated on May 24, 2019 as 'SAR Televenture Private Limited' in Gurugram, Haryana, and converted into a public limited company on April 13, 2023. It is a passive telecommunication infrastructure provider engaged in the installation and commissioning of 4G and 5G telecom towers, optical fibre cable (OFC) systems and dealing in network equipment for telecom network operators. An ISO 9001:2015-certified company registered as Infrastructure Provider Category-I (IP-I) with the Department of Telecommunication, it builds GBT/RTT/Pole sites and outdoor small cells and grants them on lease, rent or sale basis to telecom licensees; it has cumulatively installed 373 towers (125 in FY21, 108 in FY22, 140 in FY23) across West Bengal, Bihar, Uttar Pradesh East, Punjab, Himachal Pradesh and other regions, primarily serving Bharti Airtel. On January 3, 2023, it acquired 100% of SAR Televenture FZE (formerly Shoora International FZE) in Ajman Free Zone, UAE, through which it provides fibre cable laying and installation services and trades network equipment such as optical fibre cables; the subsidiary contributed about 80% of consolidated revenue from operations in Fiscal 2023. The company earns revenue from tower installation services (₹642.99 lakhs in Fiscal 2023) and, via the subsidiary, fibre cable laying and installation (₹2,085.01 lakhs) and trading of network equipment (₹518.17 lakhs).
Company Analysis
from RHPSAR Televenture Limited is a passive telecommunication infrastructure provider that installs and commissions 4G and 5G telecom towers and optical fibre cable (OFC) systems and deals in network equipment for telecom network operators.
SAR Televenture Limited was incorporated on May 24, 2019 as 'SAR Televenture Private Limited' in Gurugram, Haryana, and converted into a public limited company on April 13, 2023. It is a passive telecommunication infrastructure provider engaged in the installation and commissioning of 4G and 5G telecom towers, optical fibre cable (OFC) systems and dealing in network equipment for telecom network operators. An ISO 9001:2015-certified company registered as Infrastructure Provider Category-I (IP-I) with the Department of Telecommunication, it builds GBT/RTT/Pole sites and outdoor small cells and grants them on lease, rent or sale basis to telecom licensees; it has cumulatively installed 373 towers (125 in FY21, 108 in FY22, 140 in FY23) across West Bengal, Bihar, Uttar Pradesh East, Punjab, Himachal Pradesh and other regions, primarily serving Bharti Airtel. On January 3, 2023, it acquired 100% of SAR Televenture FZE (formerly Shoora International FZE) in Ajman Free Zone, UAE, through which it provides fibre cable laying and installation services and trades network equipment such as optical fibre cables; the subsidiary contributed about 80% of consolidated revenue from operations in Fiscal 2023. The company earns revenue from tower installation services (₹642.99 lakhs in Fiscal 2023) and, via the subsidiary, fibre cable laying and installation (₹2,085.01 lakhs) and trading of network equipment (₹518.17 lakhs).
Objects of the Issue
- Installation of 5G/4G towers (the “Project”) — funding capex to install 300 new towers ₹1,239.00 lakhs p.85
- Full or part repayment and/or prepayment of certain outstanding secured borrowings (including foreclosure charges, if any) availed by the Company ₹78.90 lakhs p.87
- Funding the working capital requirements of the Company ₹450.00 lakhs p.90
- General Corporate Purposes (GCP) p.91
Issue Structure
- Total Issue
- Up to ₹[●] Lakhs
- Fresh Issue
- Fresh Issue of up to 45,00,000 Equity Shares of face value of ₹02 each aggregating up to ₹[●] Lakhs
- Offer for Sale
- Not applicable
- Face Value
- ₹02 each
Business Model
The Company earns revenue by installing and commissioning telecom towers and leasing them to telecom service providers — Bharti Airtel contributed 96.05% of tower-installation revenue in Fiscal 2023 — and, through its wholly owned UAE subsidiary SAR Televenture FZE, by providing fibre cable laying and installation services and by trading network equipment such as optical fibre cables, where materials are procured only after confirmation of customer orders to maintain adequate margin.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| M.G Metalloy Private Limited | Corporate Promoter | 87.80% | — |
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.