Marvel Decor Limited is incorporated in 1996. This company is engaged in designs, manufactures, and sells a range of window covering products under the Marvel brand name in India and internationally. Marvel Decor is getting listed on the Indian stock exchanges through the IPO process. So I will check the draft red herring prospectus of Marvel Decor and will post the Marvel Decor Limited IPO Review for you.
About Marvel Decor Limited IPO :
- IPO Opens on – March 12, 2018.
- IPO Closes on – March 15, 2018.
- Face Value – Rs. 10 Per Equity Share.
- Issue Price – Rs. 57 Per Equity Share.
- Issue Type – Fixed Price Issue IPO.
- Retail Allocation – 50%
- Market Lot – 2000 Shares.
- Minimum Order Quantity – 2000 Shares.
- Issue Size – 4,616,000 Equity Shares of Rs 10 aggregating up to Rs 26.26 Cr.
- Listing Exchange – NSE SME Exchange.
- Draft Prospectus – Click Here.
Objectives of the issue:
- To meet the working capital requirements of the Company.
- Repayment of Long-Term Unsecured Loans of Promoters/Directors.
- General Corporate Purposes.
- Issue Expenses.
About The Company –
- Marvel Decor Limited is offers roller, roman, vertical, bamboo, wooden venetian, luzon, grayson, eton, patricia, aric, colby, meliso, dorren, sierra blinds, curtain rods, and automation products and tracks.
- This company are producing about 810 components of different type, size and colors as per customer requirement.
- Marvel Decor Limited is make 14 types of blinds and more than 900+ shades.
- One of the manufacturing unit of this company is located in Dared, Jamnagar, Gujarat.
- This company is manufacture readymade venetian blinds specially for Reliance Refineries and Roller blinds, Bamboo, Vertical and Wooden Venetian blinds supplying to the furnishing stores.
- Marvel Decor Limited is second manufacturing unit they manufacture Roller, Roman, Luzon and Vertical blinds.
- This company has marked its presence nationwide having 338 galleries, in 224 cities of 24 states.
Promoters of the company :
- Mr. Ashok Ramniklal Paun, aged 47 years is the Promoter and Managing Director of this company.
- Mr. Dipak Ramniklal Paun, aged 52 years, is the Promoter and Executive Director of this company.
Marvel Decor Limited IPO Review: The company’s profits have shown a steady decline starting from the financial year 2013 till the financial year 2016. After the four years of declining streak, the profits are once again rising since the FY 2017. In the last 6 months of the current assessment year also the company has shown good profits. The earnings per share at the issue price of Rs. 57 per equity share is just above 1, hence the issue looks priced on the higher side. There is not much grey market activity for this issue at present with the grey market premium of just Rs. 2 – Rs. 3. Hence, we do not feel immediate gains for investors is possible in this company. So, our Marvel Decor Limited IPO Review is having a NEUTRAL view on this new issue. One may subscribe or apply for Marvel IPO at his own risk.