Benara Bearings & Pistons Ltd IPO Review

Benara Bearings & Pistons Ltd (BBPL) an ISO 9001:2015 certified company. This company is engaged in the manufacturing of engine bearings, bushes, pistons, piston pin, piston rings, cylinder liners and sleeves and engine valves. BBPL’s first-ever initial public offering is open since today in the Bombay Stock Exchange’s SME division. Let me check the draft red herring prospectus of BBPL and consider the investment opportunities for you through this Benara Bearings & Pistons Ltd IPO Review based on the issue details and issue price.

About Benara Bearings & Pistons Ltd IPO :

  • IPO Opens on – March 20, 2018.
  • IPO Closes on – March 22, 2018.
  • Face Value – Rs. 10 Per Equity Share.
  • Issue Price – Rs. 60 – Rs. 63 Per Equity Share.
  • Issue Type – Book Built Issue IPO.
  • Retail Allocation – 50%
  • Market Lot – 2000 Shares.
  • Minimum Order Quantity – 2000 Shares.
  • Issue Size – 5,316,000 Equity Shares of Rs 10 aggregating up to Rs 33.49 Cr.
  • Listing Exchange – BSE SME Exchange.
  • Draft Prospectus – Download.

Objectives of the issue:

  • Expansion of the Company by way of opening retail stores for automobile parts across the country.
  • Funding the working capital requirements of the Subsidiary Company-Benara Solar Private Limited (BSPL).
  • Funding the working capital requirements of the Company.
  • General Corporate Purposes.

About The Company –

  • Benara Bearings & Pistons Ltd is incorporated in 1990.
  • This company also in the business of marketing of products like ball bearings, spark plugs, rocker arms, timing chains, connecting rods, valve guides, valve seals and batteries (Motorcycle / Inverter / E Rickshaws) under their own brand which they source through third party contract manufacturing.
  • The markets of this company’s product in OEM and Replacement market.
  • This company has two manufacturing facilities, which are situated at Sikandra, Agra (“Unit I”) where they manufactures piston pin, piston ring and engine bearing and bushes and other one is at Artoni, Agra-Mathura Road Agra (“Unit II”) where they manufactures piston, cylinder block / liner and engine valve.
  • The products of this company are well known in Uttar Pradesh, Madhya Pradesh, Bihar, Rajasthan, Haryana, Gujarat, Delhi NCR and West Bengal.

Benara Bearings & Pistons Ltd

Benara Bearings & Pistons Ltd

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Benara Bearings & Pistons Ltd

Benara Bearings & Pistons LtdBenara Bearings & Pistons Ltd

Promoters of the company :

  • Mr. Panna Lal Jain, aged 71 years, Promoter and Non-executive Director of this company.
  • Mr. Vivek Benara, aged 71 years, Promoter and Managing Director of this company.

Company Financials:

Benara Bearings & Pistons Ltd IPO

Benara Bearings & Pistons Ltd IPO Review:

A more or less spiral profitability graph, that is what we can say about BBPL. The company has an EPS of 3.40 and a PE ratio of 18.52 in the last financial year. Considering the spiral profitability graph our Benara Bearings & Pistons Ltd IPO Review is having a NEUTRAL view on this BBPL issue. BBPL can be an investment opportunity for long-term investors who can take moderate and calculated risk.

Categories: IPO Review

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