About Company
The company started a decade ago in 2012 as a partnership firm. The current company was registered under the Companies Act 2013 vide certificate of incorporation dated August 22, 2022.
Pattech engages in the manufacturing of forging products for the non-automotive sector. It has manufacturing units in Gujarat with a total installed capacity of 14104.13 MTPA. Pattech Fitwell undertakes assignments to convert semi-finished and natural products offering value-added processes of forming, bending, drilling, cutting, polishing, painting, welding, blasting, etc.
Some of the other items manufactured by Pattech Fitwell include elbow, flanges, tees, reducers, caps, pipes, spools, etc. The manufacturing unit is capable of producing standardized and customized products.
Pattech Fitwell Tube Components Ltd. IPO details
Pattech Fitwell Tube Components Ltd. IPO comprises 2,400,000 equity shares amounting to Rs. 12 crore. It is a fixed price issue type IPO with the price fixed at Rs. 30. Investors can apply for a minimum one lot of 3000 shares.
The bidding window will remain open from April 05 to April 12, 2023.
Pattech Fitwell Tube Components Ltd. IPO Objective
The company proposes to utilize the net proceeds from the fresh issues to meet working capital requirements and general corporate purposes.
| Bidding Dates 05 Apr ’23 – 12 Apr ’23 | Price Range ₹50 |
| Maximum Investment ₹150,000 / 1 Lots ( 3000 Shares ) | Minimum Investment ₹150,000 / 1 Lots ( 3000 Shares ) |
| Investor category and sub category Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors | Issue Size ₹12.00 Cr |
IPO Dates
Important dates with respect to IPO allotment and listing
| Opening Date Apr 5, 2023 | Closing Date Apr 12, 2023 |
| Basis of Allotment Apr 18, 2023 | Initiation of Refunds Apr 19, 2023 |
| Credit of Shares to Demat Apr 20, 2023 | Listing Date Apr 21, 2023 |
Pattech Fitwell Tube Components IPO Subscription Details
| Date | NII | Retail | Total |
|---|---|---|---|
| Day 1 Apr 5, 2023 | 1.19 | 0.06 | 0.62 |
| Day 2 Apr 6, 2023 | 1.38 | 0.18 | 0.78 |
IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyers | [.] |
| Non-Institutional Buyers | 1.38 |
| Retail Investors | 0.18 |
| Employees | [.] |
| Other | [.] |
| Total | 0.78 |
Should you invest in Pattech Fitwell Tube Components Ltd.?
These are the top reasons to invest in Pattech Fitwell Tube Component Ltd.
- The company produces various forged and machine components for the non-automotive industry.
- Pattech caters to a diversified customer base- standardized and customized items.
- It has a modern, fully functional, and well-established manufacturing unit.
- The steel industry contributes 2% of the GDP, and its importance is likely to grow as India works to become a manufacturing powerhouse.
Pattech Fitwell Tube Components Ltd. Noteworthy highlights
- A strong financial record supported by a steady growth in revenue from operation and profit before tax values.
- The profit growth was 165.25% between 2020 and 2022.
IPO Financials
| Particulars | 8 month ending on November 30, 2022 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|
| Revenue from Operations | 2082.40 | 2224.95 | 1833.57 |
| Profit for the period | 54.45 | 144.45 | 1.16 |
| As at November 30, 2022 | As at March 31, 2022 | As at March 31, 2021 | |
| Current Asset | 2661.01 | 2530.38 | 1386.66 |
| Current Liabilities | 2661.01 | 2530.38 | 1386.66 |
Know before investing
Strengths
- It’s an ISO 14001:2015 and ISO 14001:2018 certified company by Quality Control Certification from UASL, England.
- A Team of knowledgeable promoters with extensive industry experience.
- A diversified client list with long-term relationships.
Risks
- The business faces the risks of issues with suppliers, changes in price, and non-availability of raw materials.
- A few legal cases are pending against the company promoters.
- Failing to obtain new licenses or renew the existing ones can impact the company’s operation and financials.
Please Click Here Apply For Pattech Fitwell Tube Components IPO
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