Jash Engineering Ltd is engaged in manufacturing of wide range of products used in water intake systems, water and waste-water pumping stations and treatment plants, storm water pumping stations, water transmission lines, power, steel, cement, paper and pulp, petrochemicals, chemicals, fertilizers and other process plants. It is Gwalior, MP based company. The company is going to get listed on the exchanges through their public issue. This post we will check the Jash Engineering Limited IPO review and also check the investment opportunities in this company.
About Jash Engineering Limited IPO :
- IPO opens on – September 28, 2017
- IPO closes on – October 3, 2017
- Face value – Rs. 10 per equity share
- Issue price – Rs 115 – Rs 120 Per Equity Share.
- Issue type – Book Built Issue IPO.
- Minimum lot – 1200 shares.
- Minimum order quantity – 1200 Shares.
- Issue size – 4,000,800 Equity Shares of Rs 10 aggregating up to Rs 48.01 Cr .
- Listing exchange – NSE SME Exchange.
- DRHP – Click Here.
Objectives of the issue :
- To meet working capital requirement of the Company which include Expansion of Manufacturing facilities at Unit III and set up a new manufacturing plant in SEZ Pithampur.
- Fund required for exit of Pragati Fund India Limited including OFS and Pre IPO placement.
- To meet the Offer Expenses.
About The Company-
- Jash Engineering Design, Casting, Fabrication and Assembly and Test all products it manufactures. The company caters to the domestic as well as international markets. Jash Engineering has 500 employees.
- This Company design, develop and market products like water control gates, flap valves, knife gate valves, energy dissipating valves, water hammer control valves, fine and coarse screens, screening conveying equipment, screening washing and compaction equipment, industrial valves for bulk solids handling, hydropower screw generator, screw pump and process equipment like detritors, clarifiers, clariflocculators, thickeners, decanters aerators, trickling filters, dissolved air flotation (DAF) units, rotary drum slackers, rake classifiers, pressure sand filters, etc. which is used for water, water waste and effluent treatment plants.
- This Company in consultation with the Book Running Lead Manager, reserve the right not to proceed with the Offer at any time before the Offer Opening Date without assigning any reason.
- The products of the company find application in water intake systems, water and waste-water pumping stations and treatment plants, storm water pumping stations, water transmission lines, power, steel, cement, paper & pulp, petrochemicals, chemicals, fertilizers and other process plants. The manufacturing facilities are equipped with pattern making, foundry, machining, fabrication, inspection and in-house testing.
- They predominantly cater to the environmental business and in view of this we have made conscious efforts to design our plants and facilities in a way that they are environmentally safe and proper.
Promoters of the company :
- Mr. Laxminandan Amin.
- Mr. Pratik Patel.
- Ms. Bhairavi Patel.
- Mr. Harsh Patel.
Jash Engineering Limited IPO Review: The financial data is not at all stable with profits getting declined year after year. Also, the merchant banker has no track record so far. Hence our Jash Engineering Limited IPO review stays NEUTRAL on this issue and prefers to remain in the sidelines.