Gleam Fabmat Limited IPO

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(i) The business was originally being run as a proprietorship named J P Metals. Further, the company is incorporated on June 20, 2018, as a public limited company under the name ‘Gleam Fabmat Limited’ under the provisions of the Companies Act, 2013 with the Registrar of Companies, Delhi with a vision to corporatize our business. An MOU dated September 15, 2018, has been entered into to give effect to the takeover of the business of J P Metals (Proprietor Anil Kumar Gupta).

(ii) The Company currently trades in a wide range of aluminum products such as Aluminium Sheets, Aluminium Coils, Rivets etc and textiles products. Following is the classification of major product offerings.

(iii) The Company is promoted by Mr. Anil Kumar Gupta and his sons Mr. Amit Gupta and Mr. Arun Gupta who together have industry experience of many years and possess rich business intellect in the trading circles of Delhi as they have been in trading segment through proprietorship.

(iv) Since the company is recently incorporated they have not completed a full financial year, however, they have reported an operating performance for four months period ended September 30, 2018, wherein their sales, EBITDA and Profit after Tax were 1,022.22 lakhs,  30.82 lakhs, and 20.99 lakhs respectively.

Gleam Fabmat Limited IPO Stock Quote & Charts

5.46

-4.88%

  • Open: 5.46
  • High - Low: 5.46 - 5.46
  • Previous Close: 5.74
  • Total Traded Volume: 20000
  • Updated On: 13-May-2019

Objects of the Gleam Fabmat Limited IPO:

The Objective of the IPO is to raise 3.12 Cr by issuing 31,20,000 no. of shares at Rs. 10 a piece for the following requirement. 1.  Working Capital Requirements= 248.95 Lakh 2. Funding expenditure for General Corporate Purposes = 20.49 Lakh

Gleam Fabmat Limited IPO Details:

Open Date: Feb 19 2019
Close Date: Feb 22 2019
Total Shares: 3120000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 3.12 Cr.
Lot Size: 10000 Shares
Issue Price: ₹ 10 Per Equity Share
Listing At: BSE SME
Listing Date: Mar 05 2019

Promoters And Management:

1. Mr. Amit Gupta, aged 37 years, is the Managing Director & Chief Financial Officer of our company.  He is an Undergraduate. He has around 18 years of rich and vast experience in the field of Trading Business. He has also been associated with J.P Metals the Sole Proprietorship concern which was started in1999. He is involved in the Finance & Administrative Activities of the company since its inception. And also looks after the day-to-day functioning of our company. 2. Mr. Anil Kumar Guptaaged 63 years, is the Whole-Time Director of our Company. He is an Undergraduate. He has around 48 Years of rich and vast experience in the trading business of Aluminum Products. He was the founding member of the proprietorship concern “J.P Metals” which was started in the year 1999. He has been managing complete operations of J.P Metals since its inception and is actively involved & handling major operations of our company. 3. Mr. Arun Gupta, aged 34 years, is the Whole-Time Director of our company. He is an Undergraduate. He has around 16 years of rich and vast experience in the field of Trading Business and He has also been associated with J.P Metals the sole Proprietorship concern which was started in1999. He has been handling the sales and purchase department of the company since its inception.

Financials of Gleam Fabmat Limited IPO:

Particulars(lakhs) 30-Sept-2018
Asset 1519.99
Revenue 1022.22
PAT 20.99
As it is recently converted from Firm to Company they have shown only 6 months of financial data in the DRHP. So judging company based on 6 Month data is very difficult.

Comparison With Peers:

Peer company Garv Industries which was listed last year is now available at Rs. 6.5 against the issue price of Rs.10.

Recommendation on Gleam Fabmat Limited IPO:

Review and Recommendation of Gleam Fabmat Limited IPO from IZ team are- 1/10.

Lead Manager of Gleam Fabmat Limited IPO:

  1. Aryaman Financial Services Limited

Registrar of Gleam Fabmat Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Registered Office: 5504/15, G/F, Basti Harpool Singh, Sadar Bazar, North Delhi – 110 006 Tel No.: +91 80682 11160; Email: info@gfl.org.in ; Website: www.gfl.org.in Contact Person: Naveen Gupta, Company Secretary and Compliance Officer

Bid Details of Gleam Fabmat Limited IPO as on
22 Feb 2019 | 11:58:06 PM

Category No.of shares offered No. of shares bid
1,480,000 4,050,000
1,480,000 1,130,000
160,000 160,000
3,120,000 5,340,000
QIBs No
QIBs+HNIs Subscription 2.74X
Retail Subscription 0.76X
Total Subscription 1.75X

Discussion on Gleam Fabmat Limited IPO: