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Aspire & Innovative IPO is a book built issue of Rs 21.97 crores. The issue is entirely a fresh issue of 40.68 lakh shares.
Aspire & Innovative IPO bidding started from March 26, 2024 and ended on March 28, 2024. The allotment for Aspire & Innovative IPO was finalized on Monday, April 1, 2024. The shares got listed on NSE SME on April 3, 2024.
Aspire & Innovative IPO price band is set at ₹51 to ₹54 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹216,000.
Hem Securities Limited is the book running lead manager of the Aspire & Innovative IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Aspire & Innovative IPO is Hem Finlease.
Refer to Aspire & Innovative IPO RHP for detailed information.
| IPO Date | March 26, 2024 to March 28, 2024 |
| Listing Date | April 3, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹51 to ₹54 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 4,068,000 shares (aggregating up to ₹21.97 Cr) |
| Fresh Issue | 4,068,000 shares (aggregating up to ₹21.97 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 11,110,000 |
| Share holding post issue | 15,178,000 |
| Market Maker portion | 204,000 shares Hem Finlease |
Aspire & Innovative IPO offers 4,068,000 shares. 774,000 (19.03%) to QIB, 580,000 (14.26%) to NII, 1,354,000 (33.28%) to RII and 1,156,000 (28.42%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,156,000 (28.42%) |
| Market Maker Shares Offered | 204,000 (5.01%) |
| QIB Shares Offered | 774,000 (19.03%) |
| NII (HNI) Shares Offered | 580,000 (14.26%) |
| Retail Shares Offered | 1,354,000 (33.28%) |
| Total Shares Offered | 4,068,000 (100%) |
Aspire & Innovative IPO raises Rs 6.24 crore from anchor investors. Aspire & Innovative IPO Anchor bid date is March 22, 2024. Aspire & Innovative IPO Anchor Investors list
| Bid Date | March 22, 2024 |
| Shares Offered | 1,156,000 |
| Anchor Portion Size (In Cr.) | 6.24 |
| Anchor lock-in period end date for 50% shares (30 Days) | May 1, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | June 30, 2024 |
Aspire & Innovative IPO opens on March 26, 2024, and closes on March 28, 2024.
| IPO Open Date | Tuesday, March 26, 2024 |
| IPO Close Date | Thursday, March 28, 2024 |
| Basis of Allotment | Monday, April 1, 2024 |
| Initiation of Refunds | Tuesday, April 2, 2024 |
| Credit of Shares to Demat | Tuesday, April 2, 2024 |
| Listing Date | Wednesday, April 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 28, 2024 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹108,000 |
| Retail (Max) | 1 | 2000 | ₹108,000 |
| HNI (Min) | 2 | 4,000 | ₹216,000 |
| Lot Size Calculator | |||
The promoters of the company are Nitesh Agarwalla and Rinku Agarwalla.
| Share Holding Pre Issue | 98.84% |
| Share Holding Post Issue | 72.35% |
Founded in 2017, Aspire & Innovative Advertising Limited deals in consumer durables, including kitchen appliances, home appliances, white goods, mobile phones and accessories, solar products, and more. They deal in products from renowned brands such as Bajaj, Prestige, Vivo, Samsung, Crompton, Whirlpool, Hindware, Havells, and many others.
The company's asset-light model incurs expenses for facilitation fees and commission paid to intermediaries. They provide services such as marketing, field staff interaction, demand collation, and financial services to customers in rural and semi-urban communities.
The company offers 50+ products, including cookware, electronics, and appliances such as pressure cookers, induction cooktops, mixer-grinders, dinner sets, sewing machines, fans, irons, bulbs, heaters, phones, TVs, refrigerators, washing machines, headphones, and solar lanterns.
The company has commercial arrangements with 15+ intermediaries and operates 19 warehouses in 16 states.
As of November 30, 2023, the company has 49 full-time employees, including managers.
Aspire & Innovative Advertising Limited's revenue increased by 35.46% and profit after tax (PAT) rose by 21.38% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 8,135.72 | 6,256.99 | 5,328.01 | 3,492.07 |
| Revenue | 17,710.29 | 34,620.10 | 25,558.30 | 10,833.44 |
| Profit After Tax | 393.28 | 530.85 | 437.36 | 227.75 |
| Net Worth | 1,944.53 | 1,551.25 | 1,020.39 | 520.98 |
| Reserves and Surplus | 833.53 | 1,440.15 | 909.29 | 519.98 |
| Total Borrowing | 1,160.89 | 881.53 | 111.02 | 55.91 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Aspire & Innovative IPO is Rs 81.96 Cr.
KPI as of September 30, 2023.
| KPI | Values |
|---|---|
| ROE | 22.50% |
| ROCE | 18.59% |
| Debt/Equity | 0.6 |
| RoNW | 20.22% |
| P/BV | 3.09 |
| PAT Margin (%) | 2.23 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.78 | 5.18 |
| P/E (x) | 11.3 | 10.42 |
The company intends to utilize the proceeds of the Issue to meet the following objects:
[Dilip Davda] The company is majorly engaged in trading business with a minor portion is coming from its logistics and display advertising activities. It operates on third party products. Though the issue appears reasonably priced based on its FY2 annualized earnings, it’s a “High Risk/Low Return” bet. Well-informed investors may park moderate funds for the medium term rewards. Read detail review...
The Aspire & Innovative IPO is subscribed 15.17 times on March 28, 2024 7:30:29 PM. The public issue subscribed 16.39 times in the retail category, 5.21 times in the QIB category, and 25.60 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 5.21 |
| NII | 25.60 |
| Retail | 16.39 |
| Total | 15.17 |
Total Application : 11,099 (16.39 times)
| Listing Date | April 3, 2024 |
| BSE Script Code | |
| NSE Symbol | ASPIRE |
| ISIN | INE0S7801010 |
| Final Issue Price | ₹54 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹54.00 |
| ₹56.50 |
| ₹56.25 |
| ₹59.30 |
| ₹59.30 |
Aspire & Innovative Advertising Limited
C-4 Baldev Park
Shahdara
East Delhi -110051,
Phone: +91-124-2213055
Email: cs@aspireinnovate.in
Website: https://www.aspireinnovate.in/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: investor@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Aspire & Innovative IPO is a SME IPO of 4,068,000 equity shares of the face value of ₹10 aggregating up to ₹21.97 Crores. The issue is priced at ₹51 to ₹54 per share. The minimum order quantity is 2000 Shares.
The IPO opens on March 26, 2024, and closes on March 28, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Aspire & Innovative IPO using UPI as a payment gateway. Zerodha customers can apply in Aspire & Innovative IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Aspire & Innovative IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Aspire & Innovative IPO opens on March 26, 2024 and closes on March 28, 2024.
Aspire & Innovative IPO lot size is 2000 Shares, and the minimum amount required is ₹108,000.
You can apply in Aspire & Innovative 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, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Aspire & Innovative IPO will be done on Monday, April 1, 2024, and the allotted shares will be credited to your demat account by Tuesday, April 2, 2024. Check the Aspire & Innovative IPO allotment status.
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