Shigan Quantum Technologies Limited IPO

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i. Shigan Quantum Technologies is engaged in the business of designing, developing and manufacturing of varieties of Alternate Fuel Systems including CNG, LNG and Hydrogen Fuel Kit systems for OEMS and others. They manufacture Alternate Fuel Systems for heavy duty vehicles, light duty vehicles and off- highway applications.

ii. With change in technologies, company has plan to acquire the Foreign Suppliers’ expertise through Joint Venture or by outright purchase of their technologies and localise production of Gaseous Fuel Injection Technology systems. Such Gaseous Fuel Injection Technology systems will enable the Company to manufacture products that will meet the upcoming Emission norms thereby enhancing the performance of the vehicle.

iii. The company is engaged in designing, optimizing, manufacturing, assembling, testing and kit integration of alternate fuel systems/kits for heavy/light duty commercial vehicles and buses, power generation equipment and industrial equipment viz. forklifts etc. It aim to localize the components of Euro-VI CNG kits in India, which will help to reduce the cost of the total system.

iv. The Company imports its raw materials from countries like Singapore, USA, Chicago, Mexico, Switzerland, China, Hong Kong, UAE, Italy, France, etc. It also procure its raw materials from domestic suppliers located in Pune, Gurugram, Ghaziabad, Bangalore and other domestic market in India.

Competitive Strengths
Experienced Management Team
Quality Assurance and Standards
Cordial Relationships with our Suppliers

Objects of the Shigan Quantum Technologies Limited IPO:

The objects of the Issue Proceeds: 1. To meet Working Capital requirements 2. To finance the purchase of Machinery 3. General Corporate Purpose 4. To meet offer related expenses

Shigan Quantum Technologies Limited IPO Details:

Open Date: Feb 28 2022
Close Date: Mar 03 2022
Total Shares: 4,539,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 22.70 Cr.
Lot Size: 3000 Shares
Issue Price: ₹ 50 Per Equity Share
Listing At: NSE Emerge
Listing Date: Mar 11 2022

Promoters And Management:

i. Shishir Agrawal, aged 55 years, is the Managing Director of the Company. He was appointed on the Board of the Company upon incorporation i.e., October 20, 2008. He is a professionally qualified Chartered Accountant. He is the brain behind the financial strength of the Company. He guides the Board of Directors of the Company in all decisions related to the financial affairs of the Company. He has experience and exposure of around 25 years in the automobile industry. ii. Gagan Agrawal, aged 48 years, is the Joint Managing Director of the Company. He was appointed on the Board of the Company upon incorporation i.e., October 20, 2008. He has a degree in Mechanical Engineering from Bangalore University in the year 1995. He carries a rich experience in designing and integrating alternate fuel systems. He is entrusted with the responsibility of looking after the overall management and operations of the Company. He looks after the overall administration of the Company with the support of professional executives. iii. Vijay Lal Toshavda, aged 62 years, is an Independent Director of the Company. He holds a diploma in Engineering from the Board of Technical Education, Delhi. He joined Punjab & National Bank (PNB) in 1981 as an Officer (Industry) and retired as Senior Manager (Industry). In a career spanning over three decades, Mr. Toshavda has also served as Pension Trustee on the Board of PNB. He is presently serving as Empanelled Retired Officer (ERO) in PNB.

Financials of Shigan Quantum Technologies Limited IPO:

Particulars (in Lakhs) March-21 March-20 Mar 19
Revenue 9565 7277 6907
Cost of Material Consumed 6404 5103 4702
Purchase of Stock in Trade 1471 753 1008
Changes in inventories 9.99 57 -111.35
Employee Benefit Expenses 313 352 250
Other Expense 639 454 485
Operating profit 728.01 558 573.35
OPM % 7.60% 7.60% 8.30%
Finance Cost 133 109 149
Depriciation 156.00 54.00 47.00
Other Income 36 1.19 1.36
Profit Before tax 471 393.00 376
Tax Expense 120 101.00 109
Profit After Tax 351 292 266
EPS 13.00 11 13.00

Comparison With Peers:

There are no listed Companies in India that are engaged in a business similar to this.

Recommendation on Shigan Quantum Technologies Limited IPO:

Review and Recommendation of  Shigan Quantum Technologies Limited IPO by InvestorZone is 5/10

Lead Manager of Shigan Quantum Technologies Limited IPO:

  1. Finshore Management Services Limited

Registrar of Shigan Quantum Technologies Limited IPO:

  1. Kfin Technology Private Limited

Company Address:

Shigan Quantum Technologies Limited Shyam Kunj, 183-A, Sainik Farms, Western Avenue, New Delhi-110062 Phone: +91-9818162569 Email: Website

Discussion on Shigan Quantum Technologies Limited IPO:


    It has a debt of ~1.76 Crores and Equity of ~20 Crores. So, D/E is less than 1. Nothing to worry.

    Total Outstanding Shares before IPO = 1,26,75,900
    Present Issue = 45,39,000

    Total Shares outstanding after IPO = 172.149 Lakh

    IPO Price = 50 per share.

    Mcap = 87 Crores

    Revenue (Fy21)= 95 Crores

    EPS (Fy21) = 2.04

    P/E = ~25x

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