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Fine Organic Industries Limited IPO (Fine Organic IPO) Detail

Jun 20, 2018 - Jun 22, 2018

Incorporated in 2002, Mumbai based Fine Organic Industries Limited is a company engaged in manufacturing of oleochemical-based additives. As per CRISIL Research Report, it is the largest manufacturer of oleochemical-based additives in India and a strong player globally in this industry. The company produces a wide range of specialty plant derived oleochemicals-based additives used in the food, plastic, cosmetics, paint, ink, coatings and other specialty application in various industries. It has a range of 387 different products sold under the 'Fine Organics' brand.
Fine Organics is the first company to introduce slip additives in India and is the largest producer of slip additives in the world. Its direct customers are multinational, regional and local players manufacturing consumer products, such as Hindustan Unilever and Parle Products, and petrochemical companies and polymer producers globally. The plastics additives and specialty additives are also used in the packaging of foods and other fast moving consumer goods.

The company currently has three production facilities in Ambernath, Badlapur, and Dombivli in Maharashtra. As of December 31, 2017, these three facilities have a combined installed capacity of approximately 64,300 tonnes per annum. The company's products are also manufactured on a job-work basis by Olefine Organics ("Olefine"), a partnership firm and a Promoter Group entity, at a manufacturing facility in Ambernath, Maharashtra. It plans to take over the operation of the Second Ambernath Facility once Olefine has received the approval to enter into a sub-lease with us from MIDC, which is the owner of the land on which the facility is located, which is expected to occur in the fourth quarter of Fiscal 2018. The company has a dedicated research and development ("R&D") center located in Mahape, Navi Mumbai.

The Company has 596 full-time employees on its payroll.

Investor Presentation

Strengths-
1. Largest Producer of Oleochemical-based Additives in India and One of the Few Large Players in the Oleochemicalbased Additives Industry in the World
2. Strategically Located Production Facilities with In-house Development Capabilities
3. Strong R&D Capability- developed and launched 46 new products since 2014

Company Promoters:

The Promoters of the Company are:
1. Prakash Damodar Kamat;
2. Mukesh Maganlal Shah;
3. Jyotsna Ramesh Shah;
4. Jayen Ramesh Shah;
5. Tushar Ramesh Shah; and
6. Bimal Mukesh Shah.
The Promoters hold, in the aggregate, 30,659,976 Equity
Shares, representing 100% of the issued and paid-up equity share capital of the company.

Company Financials:

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Millions)
31-Dec-17 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 4,835.99 4,576.40 4,228.49 3,776.57 3,411.16 2,553.78
Total Revenue 5,928.23 7,892.24 6,661.22 6,180.49 5,746.49 4,975.10
Profit After Tax 625.89 794.76 769.64 590.91 626.12 208.97

Objects of the Issue:

The objects of the Offer are to achieve the benefits of listing Equity Shares on the Stock Exchanges and to carry out the sale of up to 7,664,994 Offered Shares by the Selling Shareholders. The listing of Equity Shares will enhance the Company's brand name and provide liquidity to the existing Shareholders. The listing will also provide a public market for Equity Shares in India. The Company will not receive any proceeds from the Offer and all the proceeds from the Offer, less Offer related expenses, will go to the Selling Shareholders.

Issue Detail:

  »»  Issue Open: Jun 20, 2018 - Jun 22, 2018
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size: 7,664,994 Equity Shares of Rs 5 aggregating up to Rs 600.17 Cr
  »»  Face Value: Rs 5 Per Equity Share
  »»  Issue Price: Rs 780 - Rs 783 Per Equity Share
  »»  Market Lot: 19 Shares
  »»  Minimum Order Quantity: 19 Shares
  »»  Listing At: BSE, NSE

Fine Organic IPO Reviews / Recommendations:

Dilip Davda - Subscribe
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Choice Broking: Subscribe
Ajcon Global: Subscribe
GEPL Capital: Subscribe
ICICIdirect: Subscribe

 

Fine Organic IPO Prospectus

Fine Organic IPO Rating

303
4.0
Rating:Rated 4.0 stars

Vote Here ...

Fine Organic IPO News Alerts

  1. Friday, June 22, 2018 12:00:00 AM
    Fine Organic IPO Closes on Jun 22, 2018
  2. Wednesday, June 20, 2018 12:00:00 AM
    Fine Organic IPO Opens on Jun 20, 2018

Company Contact Information

Fine Organic Industries Limited
Fine House,
Anandji Lane
Ghatkopar (East), Mumbai 400 077
Phone: (91 22) 2102 5000
Fax: (91 22) 2102 8899
Email: investors@fineorganics.com
Website: http://www.fineorganics.com

Fine Organic IPO Registrar

Karvy Computershare Private Limited   »  Report
   Karvy House, 46, Avenue 4, Street No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454
Fax: +91-40-23311968
Email: einward.ris@karvy.com
Website: http://karisma.karvy.com

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Fine Organic IPO Review / Comments

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54. Quality Comment  Jun 19, 2018 5:13:38 PM IST I Like It. | Report Abuse Reply
Where is gamble?
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54.1. Quality Comment  Jun 19, 2018 5:16:12 PM IST I Like It. | Report Abuse
Give some update bro..
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53. Tinkerbell  Jun 19, 2018 3:34:59 PM IST I Like It. 3 | Report Abuse Reply
Top Contributor Top Contributor (400+ Posts, 900+ Likes)
J&K govt regines
BJP go out from alliance
Nifty down 90+
what about this ipo now??
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52. Aniketiaf  Jun 19, 2018 12:20:58 PM IST I Like It. 3 | Report Abuse Reply
IPO Mentor IPO Mentor (600+ Posts, 3100+ Likes)
Gmp of Fine Organic is 40-44.
Gmp of Rites is 32-35.
avatar
51. harit  Jun 18, 2018 7:54:08 PM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (400+ Posts, 500+ Likes)
Another ipo
Varroc engineer(main board ipo)
26-28 June
Details awaited
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51.3. harit  Jun 19, 2018 10:47:26 AM IST I Like It. 1 | Report Abuse
Top Contributor Top Contributor (400+ Posts, 500+ Likes)
@AhireR
14505 rs is the investment of rii
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51.4. AhireR  Jun 19, 2018 11:34:16 AM IST I Like It. | Report Abuse
K sir..
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50. vishwas patil  Jun 19, 2018 11:04:09 AM IST I Like It. | Report Abuse Reply
capital market ranking 43. better to avoid it
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49. harit  Jun 19, 2018 10:56:54 AM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (400+ Posts, 500+ Likes)
To moderator
Please open page for
Varroc engineering Ltd
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49.1. vishwas patil  Jun 19, 2018 10:59:16 AM IST I Like It. | Report Abuse
already opened
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48. sonal patel  Jun 18, 2018 7:11:56 PM IST I Like It. 11 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 600+ Likes)
GMP of Fine Organic is 70-75
GMP of RITES is 38-40
Apply for listing gain....
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47. AnkurGoel  Jun 18, 2018 6:20:40 PM IST I Like It. 2 | Report Abuse Reply
IPO Mentor IPO Mentor (700+ Posts, 500+ Likes)
Credit access Garmin,
Sandhya marine,
Atria convergence approved by SEBI.
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46. Aniketiaf  Jun 18, 2018 4:31:30 PM IST I Like It. 2 | Report Abuse Reply
IPO Mentor IPO Mentor (600+ Posts, 3100+ Likes)
Further Fund Offer (FFO) of BHARAT 22 ETF.
FFO PERIOD
Anchor investors Jun 19, 2018
Non-anchor investors Jun 20-22, 2018
NFO PERIOD. Jun 19-22, 2018
Demat account holders can invest directly in the Further Fund Offer of BHARAT 22 ETF (An open-ended Exchange Traded Fund investing in S&P BSE Bharat 22 Index).
Non-demat account holders can now invest in New Fund Offer (NFO) of ICICI Prudential BHARAT 22 FOF (An open-ended fund of funds scheme investing in BHARAT 22 ETF).
(2.5 % discount in FFO.)
avatar
45. Aniketiaf  Jun 18, 2018 4:25:40 PM IST I Like It. 7 | Report Abuse Reply
IPO Mentor IPO Mentor (600+ Posts, 3100+ Likes)
Gmp of Fine Organic is 45-48
Gmp of Rites is 38-40.
avatar
44. AHMEDABAD SMART IPO  Jun 18, 2018 2:04:29 PM IST I Like It. 1 | Report Abuse Reply
Hellow Eagleye mam,

Tell the investors, Fine organics subscribe or not ? Also send Grey market premium... it can be help to investors.
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43. KING VINOD  Jun 18, 2018 10:22:55 AM IST I Like It. 8 | Report Abuse Reply
IPO Mentor IPO Mentor (700+ Posts, 1500+ Likes)
Fine Organic Ind Ltd GMP 62-65
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42. Tinkerbell  Jun 17, 2018 12:42:43 PM IST I Like It. 9 | Report Abuse Reply
Top Contributor Top Contributor (400+ Posts, 900+ Likes)
Just now I downloaded the application form of Rites Limited and Fine Organic Ltd. from the site of B.S.E. I saw that only 240 forms of Fine Organic Limited have been downloaded where the Rites Limited more than one lakh forms have been downloaded, I guess it That Rites Limited will be subscribed more than 10 times, while It is doubtful to subscribe 1x to Fine Organic Limited
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42.1. 😆  Jun 18, 2018 8:02:24 AM IST I Like It. 12 | Report Abuse
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
GMP only 45
All fake gmp experts who are posting from other fake sites will surely disappear after listing or from friday itself the last day of application🔔
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41. Rajat Jindal  Jun 16, 2018 1:16:57 PM IST I Like It. 1 | Report Abuse Reply
Please do help me with this.

Average cost of acquisition of shares by the promoters is Rs. 0.69, Rs. 0.74, Rs. 0.76, Rs. 0.79, Rs. 0.83 and Rs. 1.53 per share. (Read Dilip sir Review). They are pocketing really HUGE GAINS.
Co. is claiming to be on aggressive expansion spree, opening up new facilities and stuff. Then why is it a complete OFS when there's so much growth?
Also, co. won't any amount from the ipo, then the possibility of raising of debt can not be ruled out.
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41.3. Dhan Ki Baat  Jun 16, 2018 4:50:39 PM IST I Like It. 1 | Report Abuse
Top Contributor Top Contributor (400+ Posts, 400+ Likes)
Future Growth is already priced in hence promoters and or relatives are cashing out 25% of total o/s shares as per SEBI rule. They are actually getting the price of future growth. Company has a good track record of reducing debt. Money for future expansion will come 35% from internal accruals and 65% from debt
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41.4. dpcdsl  Jun 16, 2018 8:23:45 PM IST I Like It. | Report Abuse
Correct.
Listing is possible only on dilution of 25% promoters stake to public. They are doing it.
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40. K Arun  Jun 16, 2018 4:03:20 PM IST I Like It. | Report Abuse Reply
When u r posting gmp , put the name of city where it is applicable
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39. Jaymin bhatt  Jun 16, 2018 2:06:25 PM IST I Like It. 2 | Report Abuse Reply
grey fine chem 45/47 rites 39/40
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39.1. AhireR  Jun 16, 2018 3:27:44 PM IST I Like It. 5 | Report Abuse
Gmp of fine organics is 70+
Don't misguide
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38. Aniketiaf  Jun 16, 2018 10:49:36 AM IST I Like It. 17 | Report Abuse Reply
IPO Mentor IPO Mentor (600+ Posts, 3100+ Likes)
GMP of Fine Organic is 70+
GMP of RITES is 30+
avatar
37. sonal patel  Jun 15, 2018 10:39:25 PM IST I Like It. 10 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 600+ Likes)
Gmp for fine organic is around 100-105 application rate 420-450 ,,,apply for listing gain...
avatar
36. 😆  Jun 14, 2018 10:48:37 AM IST I Like It. 14 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
Beware of fake GMPs and sites.
FOIL
Not much left on the table at 783.
It's a high priced IPO.

Comparision
GALAXY
FV : 10
ISSUE PRICE : 1480
CMP : 1280
Trading at 200 Rs. Discount.

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36.7. Anarchist  Jun 15, 2018 5:50:14 PM IST I Like It. 11 | Report Abuse
Top Contributor Top Contributor (400+ Posts, 1000+ Likes)
@. vishwas patil. @. in my opinion buy galaxy at current price it will go up to 2000. within 2 quaters.

^^^. Yes! It might reach 2000...But the readers here must understand that by. 'Two Quarters' you probably suggested a time frame...and not. 'Two Quarters Of Liquor'....
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36.8. vishwas patil  Jun 15, 2018 7:38:34 PM IST I Like It. 1 | Report Abuse
2quaters means June 18 and Sep 18 results
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35. RAJAKUMAR  Jun 15, 2018 3:03:44 PM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Dear Eagleye Medam,
It is almost debt free company. ( Long Term Borrowing Nil and Short Term Borrowing 28 Cr.)Market always thumps up for those debt free company. Your expected subscription and listing will be on card.
avatar
35.1. Eagleye  Jun 15, 2018 3:16:10 PM IST I Like It. 5 | Report Abuse
IPO Guru IPO Guru (4600+ Posts, 14200+ Likes)
So is Galaxy Surfactants also
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