Gajanand International Limited IPO (Gajanand International IPO) Detail

September 9, 2024 - September 11, 2024

Gajanand International IPO is a fixed price issue of Rs 20.65 crores. The issue is entirely a fresh issue of 57.36 lakh shares.

Gajanand International IPO bidding started from September 9, 2024 and ended on September 11, 2024. The allotment for Gajanand International IPO was finalized on Thursday, September 12, 2024. The shares got listed on NSE SME on September 16, 2024.

Gajanand International IPO price is ₹36 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹216,000.

Fast Track Finsec Pvt Ltd is the book running lead manager of the Gajanand International IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Gajanand International IPO is Nikunj Stock Brokers.

Refer to Gajanand International IPO RHP for detailed information.

Gajanand International IPO Details

IPO Date	September 9, 2024 to September 11, 2024
Listing Date	September 16, 2024
Face Value	₹10 per share
Price	₹36 per share
Lot Size	3000 Shares
Total Issue Size	5,736,000 shares (aggregating up to ₹20.65 Cr)
Fresh Issue	5,736,000 shares (aggregating up to ₹20.65 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	NSE SME
Share holding pre issue	13,099,568
Share holding post issue	18,835,568
Market Maker portion	288,000 shares Nikunj Stock Brokers

Gajanand International IPO Reservation

Gajanand International IPO offers 57,36,000 shares. 27,24,000 (47.49%) to NII, 27,24,000 (47.49%) to RII.

Investor Category	Shares Offered
Anchor Investor Shares Offered	-
Market Maker Shares Offered	2,88,000 (5.02%)
Other Shares Offered	27,24,000 (47.49%)
Retail Shares Offered	27,24,000 (47.49%)
Total Shares Offered	57,36,000 (100%)

Gajanand International IPO Timeline (Tentative Schedule)

Gajanand International IPO opens on September 9, 2024, and closes on September 11, 2024.

IPO Open Date	Monday, September 9, 2024
IPO Close Date	Wednesday, September 11, 2024
Basis of Allotment	Thursday, September 12, 2024
Initiation of Refunds	Friday, September 13, 2024
Credit of Shares to Demat	Friday, September 13, 2024
Listing Date	Monday, September 16, 2024
Cut-off time for UPI mandate confirmation	5 PM on September 11, 2024

Gajanand International IPO Lot Size

Investors can bid for a minimum of 3000 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	3000	₹108,000
Retail (Max)	1	3000	₹108,000
HNI (Min)	2	6,000	₹216,000
Lot Size Calculator

Gajanand International IPO Promoter Holding

Mr. Ashok Bhagvanbhai Monsara, Mrs. Truptiben Ashokbhai Monsara, and Mr. Ashish Dhirajlal Monsara are the promoters of the company.

Share Holding Pre Issue	90.50%
Share Holding Post Issue

About Gajanand International Limited

Founded in 2009, Gajanand International Limited, formerly known as Gajanand Cottex Private Limited, is engaged in the production of contamination-free and sustainable cotton.

The company's product portfolio includes:

Mech1 cotton: grown in Madhya Pradesh and Maharashtra, it is sown in the June/July period and harvested from November to January.
Shankar6 cotton: This is grown domestically and is the most exported raw cotton variety in India.
DCH 32 cotton: It is sown in the months of July-August and is ready for harvest from December to March. It is grown in the states of Karnataka, Tamil Nadu and Madhya Pradesh.
Khol: It is made from high-quality and pure cotton seeds.

Company strengths:

The company has an installed capacity of 37,500 MT/year
Location advantage: Raw material harvesting nearby/easy availability and readily available transportation.
Increasing scalability of the company and self-consumption: By expanding its operations and diversifying its product offering, the company has improved its ability to adapt quickly to changing market demand.

As of March 31, 2024, the company had 22 employees.

Company Financials

Gajanand International Limited Financial Information (Restated)

Gajanand International Limited's revenue increased by 48% and profit after tax (PAT) rose by 59% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	3,931.1	1,900.58	1,944.36
Revenue	10,874.81	7,342.4	6,176.21
Profit After Tax	223.73	141.06	2.85
Net Worth	1,771.36	547.62	406.57
Reserves and Surplus	461.4	505.75	364.7
Total Borrowing	1,207.07	1,179.48	1,465.28
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Gajanand International IPO is Rs 67.81 Cr.

KPI as of March 31, 2024.

KPI	Values
ROE	19.30%
ROCE	29.72%
Debt/Equity	0.68
RoNW	19.30%
P/BV	2.1
PAT Margin (%)	2.06

Check Gajanand International IPO Peer Comparison here.

	Pre IPO	Post IPO
EPS (Rs)	1.71	1.19
P/E (x)	21.08	30.31

Note:

The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.

Objects of the Issue (Gajanand International IPO Objectives)

The Company proposes to utilize the funds being raised towards funding the following objects and achieve the benefits of listing on the Emerge Platform of NSE.
The objects of the Issue are:-

To meet out the Working Capital requirements of the Company;
To meet out the General Corporate Purposes; and
To meet out the Issue Expenses.

Gajanand International IPO Review (May apply)

[Dilip Davda] The company is in the business of manufacturing and marketing of variety of cotton. It has posted growth in its top and bottom lines for the reported periods. Based on FY24 earnings, the issue relatively appears fully priced. Considering the current fancy and bright prospects for the company, well-informed investors may park funds for medium to long term. Read detail review...

Gajanand International IPO Subscription Status (Bidding Detail)

The Gajanand International IPO is subscribed 15.27 times on September 11, 2024 6:19:03 PM. The public issue subscribed 24.18 times in the retail category, times in the QIB category, and 5.79 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category	Subscription (times)
Other	5.79
Retail	24.18
Total	15.27

Total Application : 21,955 (24.18 times)

Gajanand International IPO Prospectus

Gajanand International IPO Rating

3.0

Rating:

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Gajanand International IPO Listing Details

Listing Date	September 16, 2024
BSE Script Code
NSE Symbol	GAJANAND
ISIN	INE0QTE01018
Final Issue Price	₹36 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade

NSE SME
₹36.00
₹42.00
₹39.90
₹43.00
₹39.90

Check IPO Performance…

Gajanand International Limited Contact Details

Gajanand International Limited
Survey No. 1257/1266,
Jasdan-Atkot Roadnr. Bypass Circle,
Jasdan, Rajkot - 360050
Phone: +91-99094 46110
Email: info@gajanand-int.com
Website: https://www.gajanand-int.com/

Gajanand International IPO Registrar

Skyline Financial Services Private Ltd

Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php

Gajanand International IPO - Buy or Not

Gajanand International IPO Recommendation Summary

Review By	Subscribe	Neutral	Avoid
Brokers	1	0	0
Members	0	0	0

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Gajanand International IPO Lead Manager(s)

Fast Track Finsec Pvt Ltd (Past IPO Performance)

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Gajanand International IPO FAQs

Gajanand International IPO is a SME IPO of 5,736,000 equity shares of the face value of ₹10 aggregating up to ₹20.65 Crores. The issue is priced at ₹36 per share. The minimum order quantity is 3000 Shares.

The IPO opens on September 9, 2024, and closes on September 11, 2024.

Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

Zerodha customers can apply online in Gajanand International IPO using UPI as a payment gateway. Zerodha customers can apply in Gajanand International IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Gajanand International IPO through Zerodha

Visit the Zerodha website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the 'Gajanand International IPO' row and click the 'Bid' button.
Enter your UPI ID, Quantity, and Price.
‘Submit’ IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Gajanand International IPO opens on September 9, 2024 and closes on September 11, 2024.

Gajanand International IPO lot size is 3000 Shares, and the minimum amount required is ₹108,000.

You can apply in Gajanand International 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 Gajanand International IPO will be done on Thursday, September 12, 2024, and the allotted shares will be credited to your demat account by Friday, September 13, 2024. Check the Gajanand International IPO allotment status.

The Gajanand International IPO listing date is on September 16, 2024.

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