Novateor Research Laboratories Ltd IPO Limited

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(i) The company is leading the development of novel personal care products that are intended to provide a safe, easy and innovative approach to the existing traditional personal care solutions.

(ii) They develop products that could provide significant clinical as well as commercial advantage. The company’s manufacturing facility located at Sanand Taluka, Ahmedabad District is well equipped with the state of the art building structure, types of machinery and technology.

(iii) The product Teeth Whitening is sold under brand name ―SmiloShine‖. They manufacture three different variants of Teeth Whitening Strips. The products are first of a kind in India in the teeth whitening industry with FDCA approval. The company intends to expand its business in cosmetics, various health care pharma products, and specialty pharma in the near future.

(iv) The customer base consists of well trained, highly skilled and experienced Dentists. Dentists and other end users have found our products to be innovative, user-friendly, safe, pocket-friendly and very effective results vis-à-vis traditional teeth whitening products.

Objects of the Novateor Research Laboratories Ltd IPO Limited:

The proceeds from the Issue will be used for the following purpose. 1) Additional Working Capital. 2) To meet the expenses of the Issue
DRHP of Novateor Research Laboratories Ltd IPO Limited

Novateor Research Laboratories Ltd IPO Limited Details:

Open Date: Aug 30 2019
Close Date: Sep 04 2019
Total Shares: 1,872,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Issue
Issue Size: 4.49 Cr.
Lot Size: 6000 Shares
Issue Price: ₹ 24 Per Equity Share
Listing At: BSE SME
Listing Date: Sep 12 2019

Promoters And Management:

(i) Mr. Navdeep Subhashbhai Mehta, aged 41 years, Managing Director, is a Bachelor in Engineering in Chemical Branch from Gujarat University and has done Master in Chemical Engineering from Illinois Institute of Technology, Chicago. He has 12 years of experience in process development and manufacturing, including 8 years of experience in cosmetics and pharmaceutical R&D and GMP Validation Documentation. (ii) Mrs. Tejal Navdeep Mehta, aged 37 years, Whole-time Director,  is a Bachelors and Masters in Computer Application from Saurashtra University. She has 5 years of experience in Computer Science in the USA and a wide variety of skills in business strategic planning and marketing. She also has 5+ years of experience in the FMCG sector in the Indian market. Currently, in NRLL, she is one of the Promoters and is a Whole-Time Director and looks after the Administration and HR division our Company

Recommendation on Novateor Research Laboratories Ltd IPO Limited:

Review and Recommendation of InvestorZone is:  2/10 [ The company has only one product which they sell in the market. The financial performance is very week. The issue price is highly overvalued.]

Lead Manager of Novateor Research Laboratories Ltd IPO Limited:

  1. First Overseas Capital Limited

Registrar of Novateor Research Laboratories Ltd IPO Limited:

  1. Karvy Computershare Private Limited

Bid Details of Novateor Research Laboratories Ltd IPO Limited as on
04 Sep 2019 | 11:55:01 PM

Category No.of shares offered No. of shares bid
936,000 1,602,000
936,000 594,000
- -
1,872,000 2,196,000
QIBs Yes
QIBs+HNIs Subscription 1.71X
Retail Subscription 0.63X
Total Subscription 1.17X

Discussion on Novateor Research Laboratories Ltd IPO Limited:

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