Uravi T and Wedge Lamps Limited IPO

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Uravi T and Wedge Lamps Limited is a lamps and lighting products manufacturing and distribution company with core focus on automotive lamps and instrument cluster lighting. the company specializes in manufacturing and distributing Stop and Tail Lamps /Signal Lamps /Indicator Lamps and Wedge Lamps for Two-wheelers, Fourwheelers, Tractors and Industrial applications for various Indian automobile manufacturers. We are ISO/TS certified and hold certifications from the Automotive Research Association of India and E-mark for the products manufactured. Keeping in line with the current technological advancements in the field of automobile and home lighting, we have recently entered into a co-operation agreement with a Philippines based company named Global Lighting Phils. Inc for developing LED lighting products vertical of our company. The LED lamps are manufactured by Global Lighting Phils. Inc. under the brand name “UVAL” and are imported, distributed and sold in India by us. We have recently entered into trading of LED Lamps. We intend to increase our LED vertical sales over time and thereafter also explore possibilities of in-house LED product manufacturing depending on the technological changes and requirements of our automotive segment clients. Our Company was incorporated in the year 2004 and we began our operations with one manufacturing unit for T-10 Lamps at Navi Mumbai in Maharashtra on a rental basis. Subsequently, we purchased our own manufacturing unit at Bhiwandi, Thane and shifted our manufacturing operations to this unit. Over the years we have expanded our scale and
scope of operations and in the year 2012, we acquired factory premises on a long lease basis in Kathua, situated in the State of Jammu and Kashmir. Currently we operate from two different manufacturing locations.

Uravi T and Wedge Lamps Limited IPO Stock Quote & Charts

100.00

-2.91%

  • Open: 102.00
  • High - Low: 102.00 - 100.00
  • Previous Close: 103.00
  • Total Traded Volume: 6000
  • Updated On: 12-Nov-2018

Objects of the Uravi T and Wedge Lamps Limited IPO:

1.Offer for Sale 2.The Fresh Issue The Company is raising 5 cr from the Object by issuing 5 lakh fresh shares at a price of Rs 100. (a) Funding Long-Term Working Capital Requirement=3.8 cr (b) Funding expenditure for General Corporate Purp Long-Term= .93 cr (c) Company's Shares of Issue Expense= 27 lakh

Uravi T and Wedge Lamps Limited IPO Details:

Open Date: Mar 16 2018
Close Date: Mar 20 2018
Total Shares: 15,00,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 15 Cr.
Lot Size: 1200 Shares
Issue Price: ₹ 100 Per Equity Share
Listing At: NSE Emerge
Listing Date: Mar 28 2018

Promoters And Management:

(i) Mr. Niraj D. Gada, aged 48 years, is the Chairman, Managing Director and Chief Financial Officer of our Company. He is an undergraduate. He is the founding promoter and director of Our Company. Having been in the industry  for over 2 decades. He has acquired the requisite experience, skill and networking to smoothly conduct the business of Our Company. (ii)Mr. Kaushik D. Gada, aged 44 years, is one of the Promoter, Whole Time Director and Chief Executive Officer of our Company. He completed his Bachelor of Commerce in the year 1993 from the Mumbai University.He is tasked with the management of QA / QC department, material management and the entire functioning of the Kathua unit in Jammu and Kashmir. (iii)Mr. Brijesh Aggarwal, aged 44 years, is the Promoter Non-Executive Non-Independent Director of our Company. He is a Commerce graduate from the Delhi University. He has over two decade of extensive experience in the auto component industry.

Capital Structure:

Authorized Share Capital (60,00,000 shares at FV@10) 6 cr
Issued, Subscribed,& Paid-up Share Capital Before Issue (50,00,000 Shares at FV@10) 5 cr
Present Issue (15,00,000 Shares at FV@10) 5,00,000- Fresh Shares 1,00,000- OFS 1.5cr
Reservation for Market Maker 79,200 Shares at FV@10) 7.92 lakh
Net Issue to Public (15,00,000-79,200= 14,20,800Shares) 142.08 Lakh
Retail Quota(<2 Lkah)[7,10,400 Shares] 50%
HNI & QIB Quota(>2 Lakh)[7,10,400 Shares] 50%
Paid Up Capital after the issue 5.5 cr
  Detail of Offer for Sale
Sr.no Name of the Promoter No. of shares
1 Mr Neeraj Gada 5,00,000
2 Mr. Anil Prakash Aggarwal 5,00,000

Financials of Uravi T and Wedge Lamps Limited IPO:

 1. Balance Sheet Snippet[ for FY 16-17]
       (i) Shareholders’ Fund[Equity] Value 1077.67 lakh
      (ii) Asset 3047.76 lakh
      (iii) Liability 1970.09 lakh
      (iv) Debt/Equity 1.82(high)
      (v)  Net Worth(Asset- Liability) 1077.67 lakh
     (vi)  RONW(PAT/Net Worth) 10%
2. Profit n Loss Snippet (i) Revenue of last 5 years is growing at CAGR of 6.37%( Average Growth) (ii) PAT of last 5 years is growing at CAGR of 34.08%(Excellent). The PAT of the Six month ending Sept 17 has almost increased 50% as compared to FY.16-17 on account of reduced finance cost and deferred tax credit. (iii)Margins(PBT/Reveune): 3-5%( low) (iv) EPS= 5.69(post issue) (v) P/E(post issue)=17(reasonably priced)at the price of 100. 3. Cash Flow Statement The company is generating positive cash flow in last 5 years.

Comparison With Peers:

Name Face value EPS P/E
Autolite(India) ltd. 10 0.44 121
Fiem Industries 10 26.12 36.9
Jagan Lamps 10 0.79 15.19
Uravi T and Wedge lamps limited 10 5.79 17

Recommendation on Uravi T and Wedge Lamps Limited IPO:

The issue seems to be reasonably priced as compared to listed peers in the market but the top-line of the company is not growing at a good CAGR because of which it would be difficult to maintain growth in bottom-line in future. Therefore, this is a risky bet.

Lead Manager of Uravi T and Wedge Lamps Limited IPO:

  1. Aryaman Financial Services Limited

Registrar of Uravi T and Wedge Lamps Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Shop No. LG-20, Lower Ground, Avior, Nirmal Galaxy, L.B.S. Marg, Mulund West, Mumbai- 400 080, Maharashtra Phone No. 91 22 2565 1355 Fax No.: +91 22 2565 1355 Email: info@uravilamps.com Website: www.uravilamps.com

25th Sep 2018 - 27th Sep 2018 => Aavas Financiers IPO

Bid Details of Uravi T and Wedge Lamps Limited IPO as on
20-Mar-2018 20:00:01 IST

Category No.of shares offered No. of shares bid
750,000 1,010,400
750,000 697,200
- -
1,500,000 1,707,600
QIBs Yes
QIBs+HNIs Subscription 1.35X
Retail Subscription 0.93X
Total Subscription 1.14X

Discussion on Uravi T and Wedge Lamps Limited IPO:

    05-Apr-2018 URAVI Uravi T And Wedg Lamp Ltd ARYAMAN CAPITAL MARKETS LIMITED BUY 75,600 100.76

    05-Apr-2018 GIRIRAJ Giriraj Civil Devp Ltd ARYAMAN CAPITAL MARKETS LIMITED BUY 1,05,600 100.51