A-1 Acid Limited IPO (A1 Acid IPO) Detail

Sep 25, 2018 - Oct 1, 2018

Incorporated in 2004, Ahmedabad based A-1 Acid Limited is a company engaged in the business of trading of industrial acid and Chemicals. The company offers a wide range of chemical products used in different industries like aluminum, chemical, textile, steel, pesticides, fertilizers, defense, metals, and petrol refineries. It also provides transportation facilities to businesses through its fleet of tankers.

The products are marketed and sold in the states of Gujarat, Maharashtra, Jharkhand, Haryana, Odisha, Karnataka, Telangana, Madhya Pradesh, Rajasthan, and Uttar Pradesh.

A-1 Acid Limited has an agreement with Gujarat State Fertilizers & Chemicals Limited for selling Sulphuric Acid. It has also an agreement with Hindalco Industries Limited and Gujarat Narmada Valley Fertilizers Company Limited as an authorized dealer.

The company's two warehouses are located at Gujarat.

The total revenue of the Company stood at Rs. 9616.50 lakhs, Rs. 10579.67 lakhs, and Rs. 8539.29 lakhs for the fiscal years 2018, 2017 and 2016 respectively.

The PAT stood at Rs. 247.88 lakhs, Rs. 300.04 lakhs, and Rs. 92.48 lakhs for the fiscal years 2018, 2017 and 2016 respectively.

The company has employed one Managing Director, 7 fulltime employees, and 30 temporary laborers.

Company Financials

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Lakhs)
31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 3,934.59 3,765.29 2,593.89 2,415.72 2,436.23
Total Revenue 9,616.50 10,579.67 8,539.29 9,700.82 10,114.03
Profit After Tax 247.88 300.04 92.48 12.61 (12.39)

Objects of the Issue

The objects of the issue are-

1. Funding of working capital requirements of the Company Rs 1300.00 lakhs
2. General Corporate Purpose- Rs 352.50 lakhs
3. Issue Expenses- Rs 147.50 lakhs

A1 Acid IPO Details

IPO Date Sep 25, 2018 to Oct 1, 2018
Listing Date Wednesday, October 10, 2018
Face Value ₹10 per share
Price ₹60 per share
Lot Size 2000 Shares
Issue Size3,000,000 shares of ₹10
(aggregating up to ₹18.00 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME
Company Promoters

The Promoters of the company are Harshadkumar Patel and Jitendra Patel. They together hold 54,60,000 Equity Shares representing 78.00% of the issued and paid-up Equity Share capital the Company.

A1 Acid IPO Lot Size

The A1 Acid IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹120,000).

Application Lots Shares Amount
Retail (Min) 1 2000 ₹120,000
Retail (Max) 1 2000 ₹120,000

A1 Acid IPO Review

Issue is priced very aggressively discounting all near term positives. Inconsistent financial record of the company raises concern for future working. There is no harm in giving this issue a miss.

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A1 Acid IPO Subscription Status (Bidding Detail)

The A1 Acid IPO is subscribed 1.81 times on Oct 1, 2018 6:50:02 PM. The public issue subscribed 1.25 times in the retail category, times in the QIB category, and 2.37 times in the NII category. Check Day by Day Subscription Details (Live Status)

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A1 Acid IPO Prospectus

A1 Acid IPO Rating

Rating:Rated 2.8 stars
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A1 Acid IPO Listing Date

Listing Date Wednesday, October 10, 2018
BSE Script Code 542012
NSE Symbol
Listing In
ISIN INE911Z01017
IPO Price ₹60 per share
Face Value ₹10 per share

Listing Day Trading Information

IPO Price
Last Trade

Company Contact Information

A-1 Acid Limited
Corporate House No. A-1,
Shivalik Business Centre, B/h. Rajpath Club,
S. G. Highway, Bodakdev, Ahmedabad -380059,
Phone: +91-79-40091111

A1 Acid IPO Registrar

Cameo Corporate Services Limited

Phone: +91-44-28460390

A1 Acid IPO Review

A1 Acid IPO Recommendation Summary

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A1 Acid IPO FAQs

A1 Acid IPO is a SME IPO of 3,000,000 equity shares of the face value of ₹10 aggregating up to ₹18.00 Crores. The issue is priced at ₹60 per share. The minimum order quantity is 2000 Shares.

The IPO opens on Sep 25, 2018, and closes on Oct 1, 2018.

Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

The A1 Acid IPO opens on Sep 25, 2018 and closes on Oct 1, 2018.

A1 Acid IPO lot size is 2000 Shares and the minimum order quantity is .

You can apply in A1 Acid IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for A1 Acid IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the A1 Acid IPO allotment status.

The A1 Acid IPO listing date is on Wednesday, October 10, 2018.
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A1 Acid IPO Message Board

Ranked Members of Forum  Ranked Members | Most Liked Members



4. Smeupdate |   Link |Sep 17, 2018 11:17:06 AM
Waa solar ke bass bhi guineas ki sharam Nahi aayi. Some of the new guineas listing. Waa solar at 151 rs is now 61 rs. Jhandewala food at 55 rs is now 49 rs. Ang life'science at 80 rs now 60 rs. Raw edge down. Guiness Shame on u
4.3. Jai D. Patel |   Link |Sep 24, 2018 6:38:29 PM
No one...have 100% positive track record
4.4. Neha Bakshi |   Link |Sep 24, 2018 7:29:36 PM
If no LM has 100% track record then does it mean one shud not apply for IPO at all.???...And in that case investment in shares is doubtful...

In short , 1 shud have a risk taking appetite to invest in Capital markets be it primary (IPO) or secondary.
3. Smeupdate |   Link |Sep 19, 2018 7:35:29 PM
when waa solar came people said vadodra based companied never go down

we all know fate

please look at company and LM fundamentals and not get carried away with such things
2. Splendid |   Link |Sep 19, 2018 6:50:04 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Only Positive is company Belongs to Ahmedabad.. Ahmedabad based company never lists at Discount...Now lets see whats gonna happen with A1 Acid..
1. GrowYourMoney |   Link |Sep 19, 2018 2:23:11 PM
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
It's Acid Test for LM