Esprit Stones’ IPO is a book-built issue amounting to Rs 50.42 crores, consisting entirely of a fresh issue of 57.95 lakh shares.
The IPO opens for subscription on July 26, 2024, and closes on July 30, 2024. The allotment is expected to be finalized on Wednesday, July 31, 2024, and the shares will be listed on NSE SME with a tentative listing date of Friday, August 2, 2024.
The price band for the IPO is set at ₹82 to ₹87 per share. The minimum lot size for application is 1600 shares, requiring a minimum investment of ₹139,200 for retail investors. For HNIs, the minimum lot size is 2 lots (3,200 shares), amounting to ₹278,400.
- Book Running Lead Managers – Choice Capital Advisors Pvt Ltd & Srujan Alpha Capital Advisors Llp
- Registrar for the issue – Link Intime India Private Ltd.
- Market Maker – Choice Equity Broking
Below are the details of Esprit Stones IPO 2024 Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Esprit Stones IPO 2024 Details
| IPO Date | July 26, 2024 to July 30, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹82 to ₹87 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,795,200 shares (aggregating up to ₹50.42 Cr) |
| Fresh Issue | 5,795,200 shares (aggregating up to ₹50.42 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 16,150,000 |
| Share holding post issue | 21,945,200 |
| Market Maker portion | 291,200 shares Choice Equity Broking |
Esprit Stones IPO 2024 Timeline
| Event | Timeline |
|---|---|
| IPO Open Date | Friday, July 26, 2024 |
| IPO Close Date | Tuesday, July 30, 2024 |
| Basis of Allotment | Wednesday, July 31, 2024 |
| Initiation of Refunds | Thursday, August 1, 2024 |
| Credit of Shares to Demat | Thursday, August 1, 2024 |
| Listing Date | Friday, August 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 30, 2024 |
Esprit Stones IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹139,200 |
| Retail (Max) | 1 | 1600 | ₹139,200 |
| HNI (Min) | 2 | 3,200 | ₹278,400 |
Esprit Stones Ltd IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,612,800 (27.83%) |
| Market Maker Shares Offered | 291,200 (5.02%) |
| QIB Shares Offered | 1,075,200 (18.55%) |
| NII (HNI) Shares Offered | 806,400 (13.91%) |
| Retail Shares Offered | 1,881,600 (32.47%) |
| Total Shares Offered | 5,795,200 (100%) |
Esprit Stones IPO 2024 Anchor Investors
| Bid Date | July 25, 2024 |
| Shares Offered | 1,612,800 |
| Anchor Portion Size (In Cr.) | 14.03 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 30, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 29, 2024 |
Esprit Stones Ltd IPO 2024 Promoters
Sunilkumar Lunawath, Nitin Gattani, Pradeepkumar Lunawath, Sangeeta Gattani, Anushree Lunawath, and Siddhanth Lunawath are the promoters of the company.
Esprit Stones IPO 2024 Restated Financial Information
The company’s revenue is increased by 56.07% and profit after tax by 190.04% b/w March 31, 2024, and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 27,459.35 | 23,802.24 | 18,069.74 |
| Revenue | 27,477.82 | 17,606.52 | 19,002.60 |
| Profit After Tax | 1,031.73 | 355.72 | 1,850.53 |
| Net Worth | 7,238.80 | 6,227.81 | 5,893.32 |
| Reserves and Surplus | 5,623.80 | 5,277.81 | 4,943.32 |
| Total Borrowing | 12,541.91 | 11,879.55 | 5,799.76 |
Esprit Stones Ltd. (ESL) manufactures engineered quartz and marble surfaces, known for their durability and resistance to scratches, stains, and heat. The company exports to over 10 countries and has expanded domestically with the “Haique” brand, covering 15 Indian states.
ESL also produces unsaturated polyester resin through its subsidiary, Addwaya Chemicals. With 292 employees as of May 31, 2024, ESL maintains high-quality standards and diverse designs. The company is launching an IPO to raise Rs. 50.42 crores, opening on July 26, 2024, and closing on July 30, 2024, with a price band of Rs. 82-87 per share.
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