Uravi T and Wedge Lamps Ltd (UTWLL) is engaged in manufacturing and distribution of lamps and lighting products with core focus on automotive lamps and instrument cluster lighting. It is a Mumbai based company. Their initial public offering is open from today and will be open for applying till 20th March 2018. So I checked their draft prospectus submitted to SEBI and considered the issue price and other issue details to write my Uravi T And Wedge Lamps Ltd IPO Review for you.
About Uravi T and Wedge Lamps Ltd IPO :
- IPO Opens on – March 16, 2018.
- IPO Closes on – March 20, 2018.
- Face Value – Rs. 10 Per Equity Share.
- Issue Price – Rs. 100 Per Equity Share.
- Issue Type – Fixed Price Issue IPO.
- Market Lot – 1200 Shares.
- Minimum Order Quantity – 1200 Shares.
- Issue Size – 1,500,000 Equity Shares of Rs 10 aggregating up to Rs 15.00 Cr.
- Listing Exchange – NSE SME Exchange.
- Draft Prospectus – Download.
Objectives of the issue:
- Funding Long-Term Working Capital Requirement.
- Funding expenditure for General Corporate Purposes.
About The Company –
- Uravi T and Wedge Lamps Ltd is incorporated in the year 2004.
- This company specializes in manufacturing and distributing Stop and Tail Lamps /Signal Lamps /Indicator Lamps and Wedge Lamps for Two-wheelers, Fourwheelers, Tractors and Industrial applications for various Indian automobile manufacturers.
- Uravi T and Wedge Lamps Ltd is ISO/TS certified and hold certifications from the Automotive Research Association of India and E-mark for the products manufactured.
- This company has recently entered into a co-operation agreement with a Philippines based company named Global Lighting Phils. Inc for developing LED lighting products vertical of this company which manufactured by Global Lighting Phils. Inc.
- Uravi T and Wedge Lamps Ltd is imported, distributed and sold the products by under the brand name “UVAL” in India.
- This company began its operations with a rented manufacturing unit at Navi Mumbai in Maharashtra and subsequently purchased manufacturing units at Bhiwandi, Thane and shifted the manufacturing operations to this unit.
- Recently it acquired a factory premises on a long lease basis in Kathua, situated in the State of Jammu and Kashmir.
- This company had 105 employees on payroll and 180 employees on contract basis.
Promoters of the company :
- Mr. Niraj Gada, is one of Promoter of this company.
- Mr. Kaushik Gada, is a Promoter of this company.
- Mr. Brijesh Aggarwal, is Promoter of this company.
Uravi T and Wedge Lamps Ltd IPO Review:
UTWLL is having a nice profitability graph with profits increasing almost every financial year on YOY basis. The earnings per share of the last financial year is at 2.10 and the PE ratio is at 47.62. As a whole, the issue is fully priced at the issue price of Rs. 100. Hence, our Uravi T and Wedge Lamps Ltd IPO Review has a NEUTRAL view on this issue with a POSITIVE bias. Risk takers sitting on cash can apply in the Uravi Lamps issue for a medium to long-term view in mind.