IPO Details
Bidding Dates
26 Jul '24 - 30 Jul '24
Minimum Investment
₹1,39,200 / 1 Lot (1,600 Shares)
Price Range
₹82 to ₹87
Maximum Investment
₹1,39,200 / 1 Lot (1,600 Shares)
Retail Discount
To be announced
Issue Size
₹50.42 Cr
Investor category and sub category
Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Open Date
Jul 26, 2024
IPO Close Date
Jul 30, 2024
Basis of Allotment
Jul 31, 2024
Initiation of Refunds
Aug 1, 2024
Credit of Shares to Demat
Aug 1, 2024
Listing Date
Aug 2, 2024
Cut-off time for UPI mandate confirmation
Jul 30, 2024
About Esprit Stones Limited
Founded in 2016, Esprit Stones Limited specializes in the manufacture of engineered quartz and marble surfaces. By March 2024, the company had established Manufacturing Facility I, equipped with three pressing lines and two polishing lines, boasting a production capacity of approximately 72 lakhs sq. ft. per annum. In addition, Esprit Stones commissioned Manufacturing Facility II for the production of quartz grit and quartz powder, essential raw materials for engineered quartz manufacturing.
Esprit Stones Limited also operates a third manufacturing facility dedicated to the production of unsaturated polyester resin, further enhancing its product offerings. The company's commitment to quality and environmental standards is evidenced by its certifications, including ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, and Green Guard.
As of May 31, 2024, Esprit Stones Limited employed 295 individuals across various departments, underscoring its robust workforce and dedication to growth. The company continues to innovate and expand its capabilities, positioning itself as a leading player in the engineered quartz and marble surfaces industry.
Industry Outlook:
- The global engineered stone market is expected to grow at a 7% CAGR, reaching $26,917 million by 2022 from $20,374 million in 2018.
- The Indian engineered stone market, valued at $3,643 million in 2022, is projected to grow at a 7-8% CAGR, reaching $7,355 million by 2032.
Esprit Stones Limited IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding Working Capital requirement of the Company
- Investment in the company’ s subsidiary, Haique Stones Private Limited (HSPL), for repayment and / or prepayment in part or full of its outstanding borrowings
- Investment in the company’ s subsidiary , Haique Stones Private Limited (HSPL) for funding its Working Capital Requirement
- General Corporate Purpose
Peer Details
The companies considered by Esprit Stones as its peers include:
- Pokarna Limited
- Pacific Industries Limited
- Global Surfaces Limited
- Elegant Marbles & Grani Industries Limited
How to Check the Allotment Status of the Esprit Stones Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you had applied for.
- Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email, and SMS.
Contact Details of Esprit Stones Limited IPO
- Registered office: SP1, Udyog Vihar, Sukher Industrial Area, Udaipur – 313 004, Rajasthan, India
- Phone: +91 91166 52582
- E-mail: legal@espritstones.com
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Revenue From Operations (in ₹ lakh) | 27,289.02 | 17,441.09 | 18,645.65 |
| Profit After Tax (PAT) (in ₹ lakh) | 1,031.73 | 355.72 | 1,850.53 |
| Cash & Cash Equivalents (in ₹ lakh) | 28.01 | 73.36 | 138.26 |
| Net Worth (in ₹ lakh) | 7,238.80 | 6,227.81 | 5,893.32 |
| Debt to Equity Ratio(x) | 1.72 | 1.90 | 0.98 |
| Return on Net Worth (%) | 15.09% | 5.66% | 37.25% |
| Return on Capital Employed (RoCE) (%) | 12.39% | 7.60% | 25.05% |
| Earning Per Share (EPS)-in absolute ₹ | 6.29 | 2.13 | 11.46 |
Know before investing
Strengths
6-
Key player in Indian engineered stones market - $7,355 million by 2032.
-
Focus on quality, certified ISO 14001:2015, ISO 45001:2018, ISO 9001:2015.
-
Innovative R&D team introduced 30+ new designs in 2023-2024.
-
Backward integration with in-house quartz grit and polyester resin production.
-
Strategic location in Udaipur with abundant mineral resources.
-
State-of-the-art facilities with advanced machinery for quality production.
Risks
7-
Concentrated manufacturing in Udaipur; disruptions impact operations and finances.
-
Reliance on leased premises for offices and storage facilities.
-
Raw material shortages or price fluctuations affect profitability.
-
Significant revenue from limited customers; top 10 customers: 62.32%.
-
Dependency on USA market; 94.43% of exports in 2024.
-
High borrowings of ₹12,109.51 lakhs; affects financial stability.
-
Downgraded credit ratings; limits access to cost-effective capital.
Login to Angel One App / Website & click on IPO
Select desired IPO & tap on "Apply"
Enter UPI ID, set quantity/price & submit
Accept mandate on the UPI app to complete the process
Login to Angel One App / Website
Choose IPO section on Home Page
Click IPO Orders
Chose the IPO application you want to view the status for
Esprit Stones IPO FAQs
Esprit Stones Limited IPO is a book-built IPO. The IPO will be open from July 26, 2024, to July 30, 2024.
The Basis of Allotment will happen on Wednesday, July 31, 2024.
The IPO subscription window will open on July 26, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,600 shares.
The listing date for Esprit Stones is Friday, August 2, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approve the payment mandate.
You can submit only one application using your PAN card.
