Transteel Seating Technologies
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 30 Oct 2023 – 01 Nov 2023
- Listing date
- 06 Nov 2023
- Face value
- ₹10 per share
- Issue price
- ₹70 per share
- Lot size
- 2,000 shares
- Issue type
- Book Building issue
- Total issue size
- ₹49.98 Cr
- Market cap at offer price
- ₹141 Cr
- Promoter holding
- 79.90% → 51.28% pre-issue → post-issue
- ISIN
- INE0NVI01020
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Gretex Corporate Services Ltd.
- Registered office
- No.28, 4th Main, Industrial Suburb, Yeshwanthpur, Bangalore Urban, 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 |
|---|---|---|---|
| Anchor investor · within QIB | 18,60,000 | — | — |
| Market maker | 7,14,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹70
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,40,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,80,000 |
| S-HNI (max) | 7 | 14,000 | ₹9,80,000 |
| B-HNI (min) | 8 | 16,000 | ₹11,20,000 |
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 (₹) | 6.80 | — |
| P/E (×) | 10.29 | — |
| Market cap | — | ₹141 Cr |
Key performance indicators
- Return on net worth
- 37.21%
- ROCE
- 36.69%
- PAT margin
- 15.29%
- NAV per share
- ₹18.28
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Transteel Seating Technologies
Transteel Seating Technologies Limited was originally incorporated on February 08, 1995 as a private limited company in Bangalore and was converted into a public limited company, with a fresh certificate of incorporation issued on April 19, 2023. It is a furniture provider with over 20 years of corporate and B2B experience that makes chairs, office furniture and other residential and commercial furniture, having adopted a digital-first approach in 2019 that lets customers browse and purchase its range online. Its portfolio spans work-from-home furniture, ergonomic chairs, office tables, workstations and office storage, targeted at clients in Education, Healthcare, Hospitality, Banking, Insurance and Info Tech companies. Manufacturing is carried out at its facility at Yeshwanthpur, Bangalore, where moulds and injection-moulded parts are sourced from vendors and products are assembled on in-house assembly lines, and the company has expanded its presence to Mumbai, Chennai, Delhi NCR, Pune and Hyderabad. It earns revenue through a digital direct-to-business channel (website, experience centres and inside sales), B2B orders via tenders or presentations, government and institutional bulk-supply tenders, turnkey interior projects, tailor-made furniture supply and ready-to-use furniture, with sales executed online, offline and via omnichannel. For FY2022-23 it reported revenue from operations of ₹5,947.95 lakhs and profit after tax of ₹909.36 lakhs.
Company Analysis
from RHPTransteel Seating Technologies Limited is a Bengaluru-based furniture company that designs, manufactures and sells ergonomic office chairs, workstations and other residential and commercial furniture to corporate and B2B customers through a digital-first online-offline (omnichannel) model.
Transteel Seating Technologies Limited was originally incorporated on February 08, 1995 as a private limited company in Bangalore and was converted into a public limited company, with a fresh certificate of incorporation issued on April 19, 2023. It is a furniture provider with over 20 years of corporate and B2B experience that makes chairs, office furniture and other residential and commercial furniture, having adopted a digital-first approach in 2019 that lets customers browse and purchase its range online. Its portfolio spans work-from-home furniture, ergonomic chairs, office tables, workstations and office storage, targeted at clients in Education, Healthcare, Hospitality, Banking, Insurance and Info Tech companies. Manufacturing is carried out at its facility at Yeshwanthpur, Bangalore, where moulds and injection-moulded parts are sourced from vendors and products are assembled on in-house assembly lines, and the company has expanded its presence to Mumbai, Chennai, Delhi NCR, Pune and Hyderabad. It earns revenue through a digital direct-to-business channel (website, experience centres and inside sales), B2B orders via tenders or presentations, government and institutional bulk-supply tenders, turnkey interior projects, tailor-made furniture supply and ready-to-use furniture, with sales executed online, offline and via omnichannel. For FY2022-23 it reported revenue from operations of ₹5,947.95 lakhs and profit after tax of ₹909.36 lakhs.
Objects of the Issue
- Prepayment/Repayment of Existing Debt Facility ₹ 665.00 Lakhs p.83
- Purchase of Equipments to Facilitate Manufacturing ₹ 1,489.94 Lakhs p.84
- Working Capital Requirements ₹ 2,000.00 Lakhs p.85
- General Corporate Purposes ₹ 32.36 Lakhs p.87
Issue Structure
- Total Issue
- 71,40,000 Equity Shares aggregating to ₹ 4,998.00 Lakhs
- Fresh Issue
- 67,84,000 Equity Shares aggregating up to ₹ 4,748.80 Lakhs
- Offer for Sale
- 3,56,000 Equity Shares aggregating up to ₹ 249.20 Lakhs by Ms. Nasreen Shiraz (Promoter Selling Shareholder)
- Price Band
- Floor Price of ₹ 67.00 and Cap Price of ₹ 70.00 per Equity Share
- Lot Size
- 2,000 Equity Shares and in multiples of 2,000 thereafter; minimum allotment of 2,000 Equity Shares
- Face Value
- ₹ 10.00 each
Business Model
The company generates revenue by selling office chairs and furniture through multiple routes: a digital-first direct-to-business model via its e-commerce website, company-operated experience centres and dedicated inside sales professionals; business-to-business orders obtained via tenders or presentations covering design, drawing and implementation of interiors and furniture; participation in government and large institutional tenders for bulk customised office furniture; turnkey projects (space planning, air conditioning, workstations, flooring, roofing, windows, sound proofing); supply and installation of tailor-made furniture; and sale of standard ready-to-use furniture (desks, beds, workstations, wardrobes). Orders are received online, offline and through omnichannel combinations, supported by one-year warranties for retail customers, two-year warranties for larger corporate customers, and paid after-sales services.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Ms. Nasreen Shiraz | Promoter / Promoter Selling Shareholder | 60.13% | 38.15% |
| Mr. Shiraz Ibrahim | Promoter | 19.60% | 13.01% |
| Ms. Simran Ibrahim | Promoter Group | 0.17% | 0.11% |
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.