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Chavda Infra IPO is a book built issue of Rs 43.26 crores. The issue is entirely a fresh issue of 66.56 lakh shares.
Chavda Infra IPO bidding started from September 12, 2023 and ended on September 14, 2023. The allotment for Chavda Infra IPO was finalized on Wednesday, September 20, 2023. The shares got listed on NSE SME on September 25, 2023.
Chavda Infra IPO price band is set at ₹60 to ₹65 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹130,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹260,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Chavda Infra IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Chavda Infra IPO is Spread X Securities.
Refer to Chavda Infra IPO RHP for detailed information.
| IPO Date | September 12, 2023 to September 14, 2023 |
| Listing Date | September 25, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹60 to ₹65 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 6,656,000 shares (aggregating up to ₹43.26 Cr) |
| Fresh Issue | 6,656,000 shares (aggregating up to ₹43.26 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 18,000,000 |
| Share holding post issue | 24,656,000 |
| Market Maker portion | 336,000 shares Spread X Securities |
Chavda Infra IPO offers 6,656,000 shares. 1,264,000 (18.99%) to QIB, 948,000 (14.24%) to NII, 2,212,000 (33.23%) to RII 1,896,000 (28.49%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,896,000 (28.49%) |
| Market Maker Shares Offered | 336,000 (5.05%) |
| QIB Shares Offered | 1,264,000 (18.99%) |
| NII (HNI) Shares Offered | 948,000 (14.24%) |
| Retail Shares Offered | 2,212,000 (33.23%) |
| Total Shares Offered | 6,656,000 (100%) |
Chavda Infra IPO raises Rs 12.32 crore from anchor investors. Chavda Infra IPO Anchor bid date is September 11, 2023. Chavda Infra IPO Anchor Investors list
| Bid Date | September 11, 2023 |
| Shares Offered | 1,896,000 |
| Anchor Portion Size (In Cr.) | 12.32 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 20, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 19, 2023 |
Chavda Infra IPO opens on September 12, 2023, and closes on September 14, 2023.
| IPO Open Date | Tuesday, September 12, 2023 |
| IPO Close Date | Thursday, September 14, 2023 |
| Basis of Allotment | Wednesday, September 20, 2023 |
| Initiation of Refunds | Thursday, September 21, 2023 |
| Credit of Shares to Demat | Friday, September 22, 2023 |
| Listing Date | Monday, September 25, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 14, 2023 |
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 | ₹130,000 |
| Retail (Max) | 1 | 2000 | ₹130,000 |
| HNI (Min) | 2 | 4,000 | ₹260,000 |
| Lot Size Calculator | |||
Mr. Mahesh Gunvantlal Chavda, Mrs. Dharmishtha Maheshkumar Chavda and Mr. Johil Maheshbhai Chavda are the promoters of the company.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73% |
Incorporated in 2012, Chavda Infra Limited provides construction and allied services across residential, commercial, and institutional projects in Gujarat.
Chavda Infra is a part of the Chavda group, which consists of 3 businesses, Chavda Infra, Chavda RMC, and Chavda Developers, providing services in Ahmedabad, Gandhinagar, and Rajkot. The company has delivered more than 100 completed projects worth ₹ 67,099.45 Lakhs in Residential Properties, Commercial Properties, Institutional Infrastructures, etc. The company provides services ranging from planning and design to construction and post-construction activities.
Chavda Infra has three business verticals: Contracting Services, Development Services, and Commercial Renting Services.
The company has constructed some of the well-known buildings in Ahmedabad namely Straft Laxuria, Shivalik Parkview, and Shivalik Sharda Harmony, being residential projects. AAA Corporate House, Sadbhav House, Solitaire Sky, Sandesh Press, Suyash Solitaire, and Solitaire Connect, being commercial projects. AIS Toddler's Den, Nirma University (old Building), and Zydus School & Excellence, being institutional projects. As of May 31, 2023, the company has 26 ongoing projects worth approximately ₹ 60,139 lakhs. Out of 26 ongoing projects 4 are commercial Projects, 4 are institutional projects and 18 are residential projects.
Chavda Infra is ISO 9001:2015 certified for quality management systems by BCQ Assessment Private Limited. The quality certification is for the construction of commercial, residential, and institutional buildings.
The company has more than 250 employees and recorded revenue from operations of Rs. 16,188.57 Lacs for the year ended on March 31, 2023.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 8,668.11 | 10,880.79 | 15,424.40 |
| Revenue | 9,131.05 | 10,987.68 | 16,203.37 |
| Profit After Tax | 443.84 | 521.46 | 1,204.62 |
| Net Worth | 1,314.28 | 1,835.74 | 3,040.36 |
| Reserves and Surplus | 1,164.28 | 1,685.74 | 1,240.36 |
| Total Borrowing | 3,330.32 | 4,993.14 | 5,328.95 |
The market capitalization of Chavda Infra IPO is Rs 160.26 Cr.
| KPI | Values |
|---|---|
| ROE | 49.41% |
| ROCE | 43.62% |
| Debt/Equity | 1.75 |
| RoNW | 39.62% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.69 | |
| P/E (x) | 13.29 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company has been doing well and has a good order book. Based on FY23, the issue is reasonably priced. It has ongoing projects worth Rs. 601 cr. on hand. Investors may consider parking funds for the medium to long-term rewards. Read detail review...
The Chavda Infra IPO is subscribed 180.06 times on September 14, 2023 7:29:00 PM. The public issue subscribed 202.07 times in the retail category, 95.10 times in the QIB category, and 241.96 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 95.10 |
| NII | 241.96 |
| Retail | 202.07 |
| Total | 180.06 |
Total Application : 223,492 (202.07 times)
| Listing Date | September 25, 2023 |
| BSE Script Code | |
| NSE Symbol | CHAVDA |
| ISIN | INE0PT101017 |
| Final Issue Price | ₹65 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹65.00 |
| ₹91.00 |
| ₹86.45 |
| ₹92.00 |
| ₹86.45 |
Chavda Infra Limited
304 to 307, 406, 407 B Square I,
Near Neptune House, IsconAmbali BRTS Road,
Ahmedabad- 380058
Phone: 079 4892 6087
Email: compliance@chavdainfra.com
Website: https://www.chavdainfra.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: chavdainfra.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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Chavda Infra IPO is a SME IPO of 6,656,000 equity shares of the face value of ₹10 aggregating up to ₹43.26 Crores. The issue is priced at ₹60 to ₹65 per share. The minimum order quantity is 2000 Shares.
The IPO opens on September 12, 2023, and closes on September 14, 2023.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Chavda Infra IPO using UPI as a payment gateway. Zerodha customers can apply in Chavda Infra IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Chavda Infra IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Chavda Infra IPO opens on September 12, 2023 and closes on September 14, 2023.
Chavda Infra IPO lot size is 2000 Shares, and the minimum amount required is ₹130,000.
You can apply in Chavda Infra 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 Chavda Infra IPO will be done on Wednesday, September 20, 2023, and the allotted shares will be credited to your demat account by Friday, September 22, 2023. Check the Chavda Infra IPO allotment status.
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