Shital Cool Products Ltd is engaged in producing and processing of milk and milk products, snacks and bakery items. This is mainly Gujrat based company involved the product Ice-cream, milk & milk products, mango ras, lassi, curd, flavored milk, masko, wafers, namkeen, fryums and bakery products. This Company sells its product under the brand name ‘Sheetal’. They are coming up with a new issue that will be open for application from 16th October 2017. Let’s quickly check the Shital Cool Products Ltd IPO review through this post.
About Shital Cool Products Ltd IPO:
- IPO opens on – October 16, 2017
- IPO closes on – October 18, 2017
- Face value – Rs. 10 per equity share
- Issue price – Rs 80 Per Equity Share.
- Issue type – Fixed Price Issue IPO .
- Minimum lot – 1,600 shares.
- Minimum order quantity – 1,600 shares.
- Retail Allocation – 50%
- Issue size – 3,000,000 Equity Shares of Rs 10 aggregating up to Rs 24.00 Cr .
- Listing exchange – BSE SME exchange.
- DRHP – Click here for Shital Cool Products Ltd DRHP.
Objectives of the issue :
- To purchase additional plant and machineries at the existing manufacturing facility at Amreli, Gujarat.
- Funding of working capital requirements of the Company.
- General Corporate Expenses.
- Issue Expenses.
About The Company-
- Shital Cool Products Ltd is incorporated in 2000.
- Company has manufacturing unit spread over an area admeasuring located at Amreli, Gujarat.
- Shital Cool Products Ltd has 22 employees (including skilled, semi-skilled) and 275 personnel on contract basis.
- The unit of the company is well equipped with wide range of machineries and other handling equipment to facilitate smooth manufacturing process.
- Milk and Milk product : This company’s milk and milk of products comprises of ice cream, pasteurized milk,
flavoured milk, yoghurt, lassi, chaas, sweets and many more.
- Snacks : This company’s snacks portfolio of products comprises of potato chips, banana chips, extruded snacks (fryums), other namkeen including bhujia, salted peanuts, salted pulses and many more.
- Bakery : This company’s bakery portfolio of products comprises of variety of breads, pav, khari, cake and many more.
Promoters of the company :
- Bhupatbhai D Bhuva.
- Dinesh Kumar D Bhuva.
- Sanjay D Bhuva.
- Naynaben B Bhuva.
- Kajalben D Bhuva.
- Asmitaben S Bhuva.
Shital Cool Products Ltd IPO Review: The financial data reveals that starting from a loss on the financial year 2014 the company has slowly managed to post profits year after year. In the first quarter of FY 2018 too, they have managed to post profits of Rs. 0.6 crores. The merchant banker also has good track records with last 60% listings have given positive results. Hence we keep a NEUTRAL to a POSITIVE view on this issue in our Shital Cool Products Ltd IPO review. Apply if you are sitting on cash.