• Total Issue Size: It provides a total issue size of up to 37,00,000 Equity Shares of Rs. 10/- totalling Rs. 5,365.00 Lakhs.
• Fresh Issue Size: It provides a fresh issue size up to 32,50,000 Equity Shares of Rs. 10/- totalling Rs. 4,712.50 Lakhs.
• Offer for sale: It provides an offer for sale up to 4,50,000 Equity Shares of Rs. 10/- totalling Rs. 652.50 Lakhs.
• Price Range: Tof price is set at Rs.145 per equity share.
• Lot size: The IPO offers a lot size of 1000 equity shares
• Issue Type: The IPO is a fresh type issue.
• Subscription date: The IPO subscription begins from 22nd January, 2025 and ends on 24th January 2025.
• Listing date: The company received its listing on 29th January 2025
• Stock Exchange: The IPO is going to be listed on the SME platform of the National Stock Exchange.

The company vide this IPO aims to raise capital and utilize its proceeds for the upgradation of its factory and equipment, meet capital requirements for general corporate purposes and pursue inorganic growth along with to meet some other necessary corporate expenses.

The table below (in lakhs) stipulates the financial performance of the company over the last 3 fiscal years.(for the year ended September 30, 2024.

India at present is the world's fifth most popular retail market destination and is among the world's most promising and developing marketplaces.

With many big major brands and startups expanding its operations across the country, The retail market in India is growing and is further projected to grow at compound annual growth rate (CAGR) of 9% and hit more than US$ 1.8 trillion by 2030.

The e-commerce industry is also projected to surpass US$ 350 billion mark by 2030. With the increase of retail market and ecommerce industry, Indian market is facing increasing demands for rental spaces and the organized warehouse sector is anticipated to grow at a compound annual growth rate of 20-25% in the upcoming five years.

 India is urbanizing with drastic developments in Indian roads, highway and metros. The company also manufacture and constructs sound barriers to curb noise pollution for highways and roads and double door (platform screen doors) for metros stations.

Only 5% out of approximately 725 metro station in India have implemented these doors. So, there is huge scope for the company which will reflect in its revenues and profits.

• The company is in the manufacturing sector that provides one stop solution of fixture and furniture that manufactures, designs, produces and builds all kinds of shops, stores, displays, warehouse of various retail, commercial, industrial, Infrastructure and warehousing industries. 

• The company manufactures, produces and deals with diversified product range and ensure quality of its products. It also manufactures sound barriers for highways and double doors (platform screen doors) for metro stations.
• Its operation spans across India to multiple retail segments such as fashion, lifestyle, electronics, grocery, beauty etc and has built many long term relationships with important clients. It has also catered its services to some major big companies like Shoppers Stop Limited, Lenskart, Marks & Spencer etc.
• The company has shown consistency with its earnings over the years and the total revenue has increased from 3,571 lakh. in 2022 to 8,301 lakh as of March 30, 2024.

• The company has one tax proceeding against the company and two pending criminal litigation against its promoters and Directors any adverse outcome of the legal decision may affect the business, result of operations and financial condition;

• The company’s significant revenue aggregating approximately up to 55% is generated from Maharashtra, any political, social, economical unrest in the state could adversely effect the company operations and financial conditions.
• The company growth depends on the ability to manufacture, market and deliver its products and manufacture new kinds of products to various retailers and commercial institutes. The capital for man-force and engineers must be maintained and any kind failure to keep up and deliver the products may adversely effect the business operations.
• The company largely depends on third parties mostly Maharashtra for supply of raw materials for manufacturing its products and any disruption in the chain of supply of raw materials may have adverse effect on the company's operations and financial conditions.
• The company does not have any long term clients and only operates on the basis of purchase orders, failure to maintain these purchase orders may also adversely effect the business operations and financial conditions.

The company has shown positive growth in revenue for the last three fiscal years and can potentially grow in the coming years as retail market and e-commerce industry is rapidly growing in India. The company is also involved in manufacturing and constructing sound barriers for flyovers and roads and double doors (platform screen doors) for metro stations which is a big bonus as development with respect to highway and metros are constantly being undertaken by the government.

The company’s operations are also under significant risk due to its reliance on Maharashtra for the majority of its raw material supplies and total revenue accumulation. Potential investors should carefully consider the factors outlined in the RHP draft prospectus before investing

The company wants to use its net profits raised from the IPO to upgrade its machinery and factory, satisfy capital needs for general business operations, and seek inorganic development. The company, over the last three fiscal years has demonstrated profitable returns and with the Indian retail market and warehousing industry expected to grow at CAGR of 9%  and 20-25% respectively over the years.

The company has potential growth in the long term. Investors should go through its RHP draft available on the NSE website prospectus before investing.