Srivasavi Adhesive Tapes SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 23 Feb 2023 – 28 Feb 2023
- Listing date
- 09 Mar 2023
- Face value
- ₹10 per share
- Issue price
- ₹41 per share
- Lot size
- 3,000 shares
- Total issue size
- ₹15.50 Cr
- Market cap at offer price
- ₹58.11 Cr
- Promoter holding
- 99.84% → 73.21% pre-issue → post-issue
- ISIN
- INE0NPI01014
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Shreni Shares Ltd.
- Registered office
- No.B 100, KSSIDC Industrial Estate, Doddaballapura, Karnataka
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 | 1,92,000 | — | — |
Application size
Minimum 3,000 shares per lot, in multiples, at ₹41
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,23,000 |
| S-HNI (min) | 2 | 6,000 | ₹2,46,000 |
| S-HNI (max) | 8 | 24,000 | ₹9,84,000 |
| B-HNI (min) | 9 | 27,000 | ₹11,07,000 |
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 (₹) | 3.48 | — |
| P/E (×) | 11.78 | — |
| Market cap | — | ₹58.11 Cr |
Key performance indicators
- Return on net worth
- 34.70%
- ROCE
- 52.29%
- Debt / equity
- 0.58
- PAT margin
- 5.71%
- EBITDA margin
- 9.37%
- NAV per share
- ₹10.04
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Srivasavi Adhesive Tapes SME
Srivasavi Adhesive Tapes Limited, incorporated on March 19, 2010 as a private limited company and converted to public limited company on September 29, 2022, is engaged in manufacturing, coating, converting and die-cutting of industrial specialty self-adhesive tapes. The company serves diverse industries including Automotive, Locomotives, Aerospace, Defence, Electrical & Electronics, Renewable Energy, Print & Paper, Food & Pharma, FMCG, White & Brown Goods, Furniture, Retail, Construction, Infrastructure, Sports & Fitness Equipment, Textiles & Leather Industries with a wide range of products including pressure sensitive adhesive tapes, BOPP tapes, eco-friendly paper tapes, filament tapes, double-sided tapes, packaging tapes, specialty protection tapes, surface protection tapes, masking tapes, and specialty foams/films. The company is certified by TUV Nord and generates revenue through customized manufacturing and supply of these specialty adhesive products.
Company Analysis
from RHPSrivasavi Adhesive Tapes Limited is an ISO 9001:2015 certified manufacturer of industrial specialty self-adhesive tapes, films, foams, and customized die-cut products serving automotive, aerospace, electronics, and other industrial sectors.
Srivasavi Adhesive Tapes Limited, incorporated on March 19, 2010 as a private limited company and converted to public limited company on September 29, 2022, is engaged in manufacturing, coating, converting and die-cutting of industrial specialty self-adhesive tapes. The company serves diverse industries including Automotive, Locomotives, Aerospace, Defence, Electrical & Electronics, Renewable Energy, Print & Paper, Food & Pharma, FMCG, White & Brown Goods, Furniture, Retail, Construction, Infrastructure, Sports & Fitness Equipment, Textiles & Leather Industries with a wide range of products including pressure sensitive adhesive tapes, BOPP tapes, eco-friendly paper tapes, filament tapes, double-sided tapes, packaging tapes, specialty protection tapes, surface protection tapes, masking tapes, and specialty foams/films. The company is certified by TUV Nord and generates revenue through customized manufacturing and supply of these specialty adhesive products.
Objects of the Issue
- Funding working capital requirements ₹1,084.19 Lakhs p.21
- General Corporate Purpose ₹309.96 Lakhs p.21
- Funding working capital requirements ₹1,084.19 lakhs p.85
- General corporate purposes ₹309.96 lakhs p.85
- To fund working capital requirements for business operations and growth
Issue Structure
- Total Issue
- 37,80,000 Equity Shares aggregating to Rs.1,549.80 Lakhs
- Fresh Issue
- 37,80,000 Equity Shares aggregating to Rs.1,549.80 Lakhs
- Offer for Sale
- N.A.
- Price Band
- Fixed Price - Rs.41/- per Equity Share
- Lot Size
- 3,000 Equity Shares and in multiples thereof
- Face Value
- Rs.10/- per Equity Share
Business Model
The company manufactures and supplies industrial specialty self-adhesive tapes, films, foams, and customized die-cut products to various industrial sectors. Revenue is generated through sales of pressure sensitive adhesive tapes, BOPP tapes, eco-friendly paper tapes, filament tapes, double-sided tapes, packaging tapes, specialty protection tapes, surface protection tapes, masking tapes, and specialty foams/films to customers in automotive, aerospace, electronics, renewable energy, FMCG, and other industrial sectors.
Business Segments
SWOT Analysis
- • ISO certified and manufacturing expertise in specialty adhesive tapes(p.21)
- • Diversified product portfolio serving multiple industries(p.21)
- • Broad customer base across diverse end-user industries(p.21)
- • Diversified product portfolio across multiple adhesive tape categories(p.114)
- • ISO certification and established manufacturing capabilities(p.114)
- • Wide geographic reach across domestic and export markets(p.114)
- • Broad customer base across diverse industries(p.114)
- • Diversified customer base across multiple industries and geographies reducing market dependence(p.116)
- • Experienced management with 10+ years in adhesive tape manufacturing and proven track record(p.116)
- • ISO 9001:2015 certification and established quality assurance systems(p.116)
- • Extensive geographic presence across 23 domestic states and 13 international countries(p.116)
- • Wide product portfolio serving diverse customer segments across multiple industries(p.116)
- • Customized manufacturing capabilities meeting specific customer application requirements(p.117)
- • ISO 9001:2015 certified with manufacturing capabilities(p.201)
- • Diversified product portfolio across multiple industries(p.201)
- • Geographic presence across domestic market(p.201)
- • International export reach to 13 countries(p.201)
- • Improved profitability and margins(p.202)
- • Strong debt reduction and improved leverage(p.210)
- • Well-equipped manufacturing facilities(p.201)
- • High concentration of revenue from top 10 customers(p.32)
- • Geographic concentration of manufacturing facilities in single location(p.41)
- • Significant portion of raw material purchases concentrated with top suppliers(p.31)
- • No long-term agreements with raw material suppliers; reliance on spot purchases(p.31)
- • No long-term contracts with customers; reliance on purchase orders(p.34)
- • Heavy dependence on promoters for business operations and strategy(p.40)
- • Negative cash flow from operations in prior years(p.39)
- • Outstanding tax proceedings against company and promoters(p.23)
- • Corporate governance non-compliances and delayed statutory filings(p.35)
- • Delays in GST filing and deposit of statutory dues(p.35)
- • High dependence on a few customers for revenue generation(p.52)
- • Significant short-term debt relative to assets and equity(p.59)
- • Limited cash reserves relative to current liabilities and operations(p.59)
- • Minimal working capital buffer despite business growth(p.59)
- • Limited long-term supply contracts with raw material suppliers creating procurement vulnerability(p.128)
- • Concentration of manufacturing in two facilities located in Karnataka(p.127)
- • Significant dependence on a limited group of major customers for revenue(p.116)
- • Low capacity utilization at manufacturing units(p.127)
- • Heavy dependence on few customers(p.218)
- • Reliance on limited suppliers(p.218)
- • Moderate current ratio indicating liquidity constraints(p.210)
- • Presence of disputed tax demands(p.225)
- • Outstanding TDS defaults across multiple years(p.225)
- • High projected CAGR in adhesives and sealants market(p.21)
- • Growth drivers from packaging and construction industries(p.21)
- • Expansion to new manufacturing facility(p.38)
- • Funding for working capital to support growth(p.22)
- • Export presence in 13 countries with expansion potential(p.44)
- • Expansion of manufacturing capacity through new production facility(p.87)
- • Growth in Indian adhesives market driven by electronics and construction sectors(p.111)
- • Increasing demand for eco-friendly and water-borne adhesive products(p.112)
- • Growing electronics industry adoption of adhesives and sealants(p.112)
- • Expansion potential through third-party manufacturing for customer branding(p.114)
- • Expansion of production capacity through new manufacturing unit installation(p.116)
- • Product portfolio expansion and diversification to become one-stop shop for adhesive solutions(p.116)
- • Growth through increased customer network penetration in existing markets(p.116)
- • International market expansion capitalizing on strong demand for adhesive tape products(p.117)
- • Technology enhancement to improve operational efficiency and competitive positioning(p.117)
- • Emerging demand from renewable energy and solar sectors(p.116)
- • Expansion into new industrial sectors(p.201)
- • Growing demand across diverse industries(p.201)
- • Expansion of export business(p.201)
- • Third-party manufacturing for customized requirements(p.201)
- • Capital investment to support growth(p.182)
- • Raw material price volatility and supply disruption risks(p.30)
- • COVID-19 pandemic impact on business operations(p.31)
- • Power supply disruptions and dependence on government electricity(p.33)
- • Slowdown in automotive industry affecting market demand(p.21)
- • Product defects and liability exposure(p.33)
- • Intense competition from organized and unorganized players(p.43)
- • Regulatory and environmental compliance costs(p.36)
- • Third-party transportation provider disruptions(p.34)
- • Workplace hazards and safety risks at manufacturing facilities(p.36)
- • Exchange rate fluctuations affecting export competitiveness(p.44)
- • Global economic slowdown and reduced manufacturing activity(p.99)
- • Volatility in Indian economic conditions and foreign exchange fluctuations(p.52)
- • Stringent environmental regulations regarding VOC emissions(p.112)
- • Increased inflation impacting cost structure without proportional pricing flexibility(p.52)
- • Infrastructure constraints and supply chain disruptions(p.52)
- • Potential for downgrading of India's sovereign credit rating(p.53)
- • Intense competition from both organized and unorganized market players(p.128)
- • Raw material price volatility affecting manufacturing costs(p.128)
- • Dependence on power and utilities for uninterrupted manufacturing operations(p.128)
- • Environmental compliance and waste management regulations(p.129)
- • Regulatory changes in plastic waste management and packaging standards(p.135)
- • Supply chain disruption risks from logistics and transportation dependency(p.128)
- • Intense competition from organized and unorganized players(p.202)
- • Price competition pressuring margins(p.202)
- • Exposure to commodity price volatility(p.212)
- • Regulatory and compliance risks(p.203)
- • Outstanding litigation with shipping companies(p.226)
- • Foreign exchange and inflation risks(p.203)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| D N Anilkumara | Promoter and Managing Director | 70.11% | 51.41% |
| Ashwini D A | Promoter and Executive Director | 29.73% | 21.80% |
| D N Anilkumara | Promoter and Managing Director | 70.11% | 51.41% |
| Ashwini D A | Promoter and Executive Director | 29.73% | 21.80% |
| D N Anilkumara | Promoter | 70.11% | — |
| Ashwini D A | Promoter | 29.73% | — |
| Anil Kumar D.N. | Promoter | 70.00% | — |
| Ashwini D.A. | Promoter | 30.00% | — |
| DASA RAJAIAH APRIL K UMACA SIC HANAKARIA UETTY KATTABEKI NARASIMHAN | Promoter | — | — |
| DJO THATHA VENIKATA CHALA RAMANATHA SETTY | Promoter | — | — |
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.