Sunita Tools
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 26 Sep 2023 – 03 Oct 2023
- Listing date
- 11 Oct 2023
- Face value
- ₹10 per share
- Issue price
- ₹145 per share
- Lot size
- 1,000 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹22.04 Cr
- Market cap at offer price
- ₹81.56 Cr
- Promoter holding
- 100.00% → 72.98% pre-issue → post-issue
- ISIN
- INE0Q1S01010
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Aryaman Financial Services Ltd.
- Registered office
- Survey No.66, Plot No.A, Valiv, Sativali Road, Vasai East, Dist.Palghar, 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 |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 78,000 | — | — |
Application size
Minimum 1,000 shares per lot, in multiples, at ₹145
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,45,000 |
| S-HNI (min) | 2 | 2,000 | ₹2,90,000 |
| S-HNI (max) | 6 | 6,000 | ₹8,70,000 |
| B-HNI (min) | 7 | 7,000 | ₹10,15,000 |
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 (₹) | 13.96 | — |
| P/E (×) | 10.39 | — |
| Market cap | — | ₹81.56 Cr |
Key performance indicators
- Return on net worth
- 105.31%
- ROCE
- 36.76%
- Debt / equity
- 5.17
- PAT margin
- 24.39%
- EBITDA margin
- 38.04%
- NAV per share
- ₹7.45
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Sunita Tools
Sunita Tools Limited (STL) was incorporated as Sunita Tools Private Limited on January 12, 1988 under the Companies Act, 1956 with the Registrar of Companies, Mumbai, and was converted to a public limited company (renamed Sunita Tools Limited) vide special resolution dated April 12, 2023. For more than three decades it has operated in the Engineering and Mould base Industry, manufacturing ground plates, mould bases (customized, plastic, injection, die-casting, blow, compression, insert, prototype, standard, caps & closures and over-mould bases) and precision CNC machining (including pocket machining and precision component machining) at its registered office-cum-manufacturing facility at Survey No. 66, Plot No. A, Valiv, Sativali Road, Vasai East, Palghar, Thane, with machines capable of producing large dimensional products ranging from 200*200 mm to 4000*2000 mm up to 30 tons in weight. Its mould bases and machining parts are industrial capital goods bought as inputs by automotive, heavy manufacturing, plastics, electrical, electronics, pharmaceutical and consumer goods manufacturers, who specify the raw material (C-45, P-20, OHNS/EN steel plates) and place orders job-by-job; the company has no long-term customer contracts and derived 64.14% of FY2023 revenue from its top five customers (top ten: 87.39%). Restated revenue from operations grew from ₹666.36 lakhs in FY2021 to ₹1,384.44 lakhs in FY2023 (a CAGR of 44.14%), with PAT rising from ₹26.66 lakhs to ₹80.99 lakhs to ₹337.71 lakhs over the same period; exports were nil, nil and ₹24.32 lakhs in FY2021–FY2023 respectively. The company had 38 full-time employees as of March 31, 2023, and is consolidating the group's mould-base business by acquiring manufacturing assets from group company Sunita Die Parts Private Limited (advance of ₹285.15 lakhs paid as of March 31, 2023, of which ₹81.07 lakhs of machinery already purchased).
Company Analysis
from RHPSunita Tools Limited manufactures customised mould bases and precision CNC machining parts — industrial capital goods supplied to automotive, heavy manufacturing, plastics, electrical/electronics, pharmaceutical and consumer goods manufacturers.
Sunita Tools Limited (STL) was incorporated as Sunita Tools Private Limited on January 12, 1988 under the Companies Act, 1956 with the Registrar of Companies, Mumbai, and was converted to a public limited company (renamed Sunita Tools Limited) vide special resolution dated April 12, 2023. For more than three decades it has operated in the Engineering and Mould base Industry, manufacturing ground plates, mould bases (customized, plastic, injection, die-casting, blow, compression, insert, prototype, standard, caps & closures and over-mould bases) and precision CNC machining (including pocket machining and precision component machining) at its registered office-cum-manufacturing facility at Survey No. 66, Plot No. A, Valiv, Sativali Road, Vasai East, Palghar, Thane, with machines capable of producing large dimensional products ranging from 200*200 mm to 4000*2000 mm up to 30 tons in weight. Its mould bases and machining parts are industrial capital goods bought as inputs by automotive, heavy manufacturing, plastics, electrical, electronics, pharmaceutical and consumer goods manufacturers, who specify the raw material (C-45, P-20, OHNS/EN steel plates) and place orders job-by-job; the company has no long-term customer contracts and derived 64.14% of FY2023 revenue from its top five customers (top ten: 87.39%). Restated revenue from operations grew from ₹666.36 lakhs in FY2021 to ₹1,384.44 lakhs in FY2023 (a CAGR of 44.14%), with PAT rising from ₹26.66 lakhs to ₹80.99 lakhs to ₹337.71 lakhs over the same period; exports were nil, nil and ₹24.32 lakhs in FY2021–FY2023 respectively. The company had 38 full-time employees as of March 31, 2023, and is consolidating the group's mould-base business by acquiring manufacturing assets from group company Sunita Die Parts Private Limited (advance of ₹285.15 lakhs paid as of March 31, 2023, of which ₹81.07 lakhs of machinery already purchased).
Objects of the Issue
- Funding working capital requirements ₹ 1,425.00 lakhs p.73
- General corporate purposes ₹ 334.93 lakhs p.74
Issue Structure
- Total Issue
- 15,20,000 Equity Shares of ₹ 10 each for cash at a price of ₹ 145 per share, aggregating to ₹ 2,204.00 lakhs
- Fresh Issue
- 13,20,000 Equity Shares of face value of ₹ 10 each for cash at a price of ₹ 145 per Equity Share aggregating ₹ 1,914.00 lakhs
- Offer for Sale
- 2,00,000 Equity Shares of face value of ₹ 10 each for cash at a price of ₹ 145 per Equity Share aggregating ₹ 290.00 lakhs (66,600 by Sanjay Kumar Pandey, 66,600 by Satish Kumar Pandey and 66,800 by Ragini Pandey)
- Price Band
- No price band — 100% Fixed Price Issue at an Issue Price of ₹ 145 per Equity Share (14.5 times the face value)
- Lot Size
- The Market lot and Trading lot for the Equity Share is 1,000 and in multiples of 1,000 thereafter; subject to a minimum allotment of 1,000 Equity Shares to the successful applicants
- Face Value
- ₹ 10 each
Business Model
The company earns revenue from operations by manufacturing and selling customised mould bases and precision-machined parts against customer orders: customers send product designs, the company quotes, and on agreement receives the final order and design; production uses customer-specified steel plates (C-45, P-20, OHNS/EN) and bought-out items (inserts, guide pins, bushings, ejector systems, cooling channels). Sales are made on an order-by-order basis without long-term contracts, are concentrated among few customers (top 10 customers contributed 87.39% of FY2023 revenue), and are supplemented by small direct export sales (₹24.32 lakhs in Fiscal 2023) and other income (₹32.89 lakhs in FY2023).
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Sangeeta Pandey | Promoter (founding promoter) | 15.16% | 11.60% |
| Sanjay Kumar Pandey | Promoter; Chairperson and Whole-time Director; Promoter Selling Shareholder (OFS: 66,600 shares aggregating ₹ 96.57 Lakhs) | 38.40% | 28.21% |
| Satish Kumar Pandey | Promoter; Managing Director and CFO; Promoter Selling Shareholder (OFS: 66,600 shares aggregating ₹ 96.57 Lakhs) | 34.90% | 25.52% |
| Ragini Pandey | Promoter; Whole-time Director; Promoter Selling Shareholder (OFS: 66,800 shares aggregating ₹ 96.86 Lakhs) | 8.02% | 4.95% |
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.