Gretex Corporate Services IPO

Apply 0
Avoid 0

(i) Incorporated as “Dynamic Tradeserv Private Limited” on September 05, 2008, at Kolkata, the name of the Company was changed to “Gretex Corporate Services Private Limited” on May 28, 2013.

(ii) The company offers diversified financial and consultancy services in the areas of Capital Markets, Corporate Finance, Corporate Restructuring, Debt Syndication, Compliance Advisory. The company has 2 associates companies named Sankhu Merchandise Private Limited and Gretex Share Broking Private Limited.

(iii) Over the period of years, the company has been able to successfully create its name in Primary markets for successfully executing 21 SME IPOs and 1 BSE Startups Segment under SME Platform of BSE Limited. It offer a banquet of services as follows:

Capital Markets: IPOs, De-Listing, Open Offer, Exit Offer, Right Issue
Corporate Finance: Valuation, Private Equity, Venture Capital, Bank Finance and Issue of Debt Securities
Corporate Restructuring: Mergers & Acquisitions, Takeover, Demergers
Compliance Advisory: Statutory Compliances and secretarial support services

(iv) It has a registered office and working station located in Mumbai, Maharashtra, Apart from this the company has its Branch office in Kolkata, West Bengal, India.

Competitive Strengths
(i) Rich Management Experience
(ii) Diversified Portfolio of Services offered
(iii) Long-term relationships

Objects of the Gretex Corporate Services IPO:

The issue includes a fresh Issue of 2,37,600 Equity Shares and an Offer for Sale of 64,000 Equity Shares by the Selling Shareholders. Net proceeds from the fresh issues will be used in: a) Payment of Security Deposit for renting of office space b) Working Capital Requirements c) General Corporate Purposes.
DRHP of Gretex Corporate Services IPO

Gretex Corporate Services IPO Details:

Open Date: Jul 27 2021
Close Date: Jul 30 2021
Total Shares: 301,600
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price
Issue Size: 5.13 Cr.
Lot Size: 800 Shares
Issue Price: ₹ 170 Per Equity Share
Listing At: BSE SME
Listing Date: Aug 09 2021

Promoters And Management:

(i) Mr. Alok Harlalka, aged 42 years, is designated as Managing Director and Chief Financial Officer of the Company. He was appointed on the Board of the Company w.e.f. September 08, 2008. He has completed his Higher Secondary Education. He is the driving force behind GRETEX, having an overall experience of more than two decades in the field of finance, investment, and business development. His functional responsibility in the Company involves handling the overall business affairs including devising investment strategies and overall development of the business. He is also Nominee Director of the Association of Investment Bankers of India (AIBI). (ii) Mrs. Pooja Harlalka, aged 43 years, is the Executive Director of the Company. She was appointed on the Board of the Company w.e.f. April 12, 2021. She has completed his Higher Secondary Education with the West Bengal Council of Higher Secondary Education. She has almost 7 years of experience in operational and administrative work. She plays a vital role in planning, coordinating, and managing all the administrative procedures and is responsible for the day-to-day activity of the Company. (iii) Mr. Arvind Harlalka, aged 45 years, is the founding member and is designated as Non-Executive Director of the Company. He was appointed on the Board of the Company upon incorporation i.e. September 05, 2008. He has completed a Bachelor of Commerce from the University of Calcutta in the year 1996 and qualified Company Secretary from the Institute of Company Secretaries of India since September 2009. He has an experience more than two decades in client/ supplier management, HR & office administration, all legal compliance related to income tax, RoC, SEBI, BSE, NSE, Sales Tax/ Vat/ GST/ Services Tax, TDS, P. Tax, ESI, Banks, Financial Institutions, etc, including the filing of returns, Assessment, Appeal, finalization of accounts, and office administration.

Financials of Gretex Corporate Services IPO:

Particulars (Lakh) Mar 21 Mar 20 Mar 19
Revenue 298 114 314
Employee Benefit Expenses 58 75 73
Other Expenses 147 137 171
Operating Profit 93 -98 70
OPM % 31.21% -85.96% 22.29%
Other Income 26 30 0.95
Financial Expenses 29 29 23
Depreciation & Amortisations 16 16 16
Profit Before Tax 74 -113 30
Net Profit 61 -160 25
NPM% 20.47% -140.35% 7.96%

Comparison With Peers:

Peer Market cap (Cr.) Sales(Cr.) Compounded 3-year Revenue Growth Compounded 3-year Profit Growth OPM% (FY21) P/E PAT (Cr.)
Navigant Corporate Advisors Ltd 4.38 2.65 -6% -22% 19.25% 11.5 0.38
Galactico Corporate Services Ltd 48.7 14.75 -4% 31% 20.14% 20.3 2.4

Recommendation on Gretex Corporate Services IPO:

Review and Recommendation of Gretex IPO by IZ team is 2/10. 1. Gretex financial performance is weak. 2.  There is no moat in the business. 3. The business is not very lucrative.

Lead Manager of Gretex Corporate Services IPO:

  1. Aryaman Financial Services Limited

Registrar of Gretex Corporate Services IPO:

  1. Bigshare Services Private Limited

Company Address:

Gretex Corporate Services Ltd Office No. 13, 1st Floor, Bansilal Mansion 9-15, Homi Modi Street, Fort Mumbai – 400 001 Phone: +91 – 22 - 4002 5273 Email: info@gretexgroup.com Website: http://www.gretexcorporate.com/

Discussion on Gretex Corporate Services IPO:

1 Comment

Leave a Reply