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Novateor Research Laboratories Ltd IPO (Smiloshine IPO) Detail

August 30, 2019 - September 4, 2019

Smiloshine IPO is a fixed price issue of Rs 4.49 crores.

Smiloshine IPO bidding started from August 30, 2019 and ended on September 4, 2019. The allotment for Smiloshine IPO was finalized on Monday, September 9, 2019. The shares got listed on BSE SME on September 13, 2019.

Smiloshine IPO price is ₹24 per share. The minimum lot size for an application is 6000 Shares. The minimum amount of investment required by retail investors is ₹144,000.

First Overseas Capital Limited is the book running lead manager of the Smiloshine IPO, while Kfin Technologies Limited is the registrar for the issue.

Refer to Smiloshine IPO RHP for detailed information.

Smiloshine IPO Details

IPO Date August 30, 2019 to September 4, 2019
Listing Date September 13, 2019
Face Value ₹10 per share
Price ₹24 per share
Lot Size 6000 Shares
Total Issue Size1,872,000 shares
(aggregating up to ₹4.49 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME
Market Maker portion96,000 shares

Smiloshine IPO Reservation

Smiloshine IPO offers 1,872,000 shares. 888,000 (47.44%) to NII, 888,000 (47.44%) to RII.

Investor Category Shares Offered
Anchor Investor Shares Offered-
Market Maker Shares Offered96,000 (5.13%)
Other Shares Offered888,000 (47.44%)
Retail Shares Offered888,000 (47.44%)
Total Shares Offered1,872,000 (100%)

Smiloshine IPO Timeline (Tentative Schedule)

Smiloshine IPO opens on August 30, 2019, and closes on September 4, 2019.

IPO Open Date Friday, August 30, 2019
IPO Close Date Wednesday, September 4, 2019
Basis of Allotment Monday, September 9, 2019
Initiation of Refunds Wednesday, September 11, 2019
Credit of Shares to Demat Thursday, September 12, 2019
Listing Date Friday, September 13, 2019
Cut-off time for UPI mandate confirmation 5 PM on September 4, 2019

Smiloshine IPO Lot Size

Investors can bid for a minimum of 6000 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 6000 ₹144,000
Retail (Max) 1 6000 ₹144,000
Lot Size Calculator

Smiloshine IPO Promoter Holding

The promoter of the company are Mr. Navdeep Subhashbhai Mehta and Mrs. Tejal Navdeep Mehta.

Share Holding Pre Issue 99.35%
Share Holding Post Issue 60.88%

About Novateor Research Laboratories Ltd

Incorporated in 2011, Novateor Research Laboratories Ltd is engaged in developing novel personal care products. The company is mainly known by its teeth whitening products which sold in the market under the brand name of SmiloShine. Their product range includes Whitening Toothbrush, Teeth Whitening Charcoal Gel Strips and Teeth Whitening Strips.

The manufacturing facility of the company is located at Sanand Taluka, Ahmedabad District. Currently, the company have its presence only in Gujrat and Maharashtra. But they also sell their products online through Amazon, Flipcart and The company is also planning to tie-up with multiple distributors, dentists and other modern retail for marketing, selling and branding their products. Their manufacturing facility has a semi-automation process which reduces manual labour and material wastage.

Novateor manufactures three different types of teeth whitening strips based on different variants. The company is also planning to extend the business in health care pharma products, speciality pharma and cosmetics in future. Company's customer base consists of well-trained Dentists.

Company Financials

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Lakhs)
31-March-19 31-March-18 31-March-17
Total Assets 431.61 183.77 189.81
Total Revenue 51.41 11.33 16.18
Profit After Tax 21.85 0.09 (0.30)

Objects of the Issue (Smiloshine IPO Objectives)

The Net Proceeds from the Issue are proposed to be utilized by the Company for the following objects:

1) Additional Working Capital; and
2) To meet the expenses of the Issue

Smiloshine IPO Review (Avoid)

[Dilip Davda]  Financial data does not merit the exorbitant asking price. LM has a poor track record. There is no harm in giving this issue a miss. Read detail review...

Smiloshine IPO Subscription Status (Bidding Detail)

The Smiloshine IPO is subscribed 1.24 times on September 4, 2019 6:49:04 PM. The public issue subscribed 0.67 times in the retail category, times in the QIB category, and 1.80 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

Smiloshine IPO Prospectus

Smiloshine IPO Rating

Rating:Rated 4.6 stars
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Smiloshine IPO Listing Details

Listing Date September 13, 2019
BSE Script Code 542771
NSE Symbol
Final Issue Price ₹24 per share

Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

Check IPO Performance…

Novateor Research Laboratories Ltd Contact Details

Novateor Research Laboratories Ltd
B-1001,10th Floor, Block B, Titanium City Center,
Nr Sachin Tower, Anandnagar Rd,100 Ft Rd,
Satellite, Ahmedabad 380015, Gujarat, India
Phone: +91 79 4039 5888/ 63533 4

Smiloshine IPO Registrar

Kfin Technologies Limited

Phone: 04067162222, 04079611000

Smiloshine IPO - Buy or Not

Smiloshine IPO Recommendation Summary

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

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Smiloshine IPO FAQs

Smiloshine IPO is a SME IPO of 1,872,000 equity shares of the face value of ₹10 aggregating up to ₹4.49 Crores. The issue is priced at ₹24 per share. The minimum order quantity is 6000 Shares.

The IPO opens on August 30, 2019, and closes on September 4, 2019.

Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

The Smiloshine IPO opens on August 30, 2019 and closes on September 4, 2019.

Smiloshine IPO lot size is 6000 Shares, and the minimum amount required is ₹144,000.

You can apply in Smiloshine 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 Smiloshine IPO will be done on Monday, September 9, 2019, and the allotted shares will be credited to your demat account by Thursday, September 12, 2019. Check the Smiloshine IPO allotment status.

The Smiloshine IPO listing date is on September 13, 2019.
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Smiloshine IPO Message Board

Ranked Members of Forum  Ranked Members | Members with Most Likes



11. Rajkot Broker Association Arjun |   Link |  Bookmark |November 22, 2019 7:00:24 PM
Issue Is Subscribed.
BRLM are Sleeping Now...
Retailers Are Mad and Rushing for IPO.
HNIs are selling Huge Quantity in Grey.

Currently Premium Felt to 60/-
Rajkot Counters Are still Having Pending Seller Orders @63/-

Jaipur Delhi All Counters are short.
Looking at This HNI Funding May Not be Available.
However Technical No Problem with Bank.

10. Master Advice |   Link |  Bookmark |September 13, 2019 1:15:05 PM
Keep it up promotor well done
9. Master Advice |   Link |  Bookmark |September 13, 2019 1:14:01 PM
No selling pressure in this company jisne bhi is company me invest kiya hai woh long wale hai is liye selling pressure nai aaya
8. Master Advice |   Link |  Bookmark |September 13, 2019 1:10:32 PM
Teeth whiteing produt tooth brush many more products in pipe line long term very good share
7. RAJAKUMAR |   Link |  Bookmark |September 13, 2019 10:32:33 AM (1400+ Posts, 1200+ Likes)
Dear Small
Tooth brush company but upper circuit 25.2
7.1. Small Investor |   Link |  Bookmark |September 13, 2019 11:30:14 AM
IPO Guru IPO Guru (2100+ Posts, 1100+ Likes)
Buyer 120000 only maintain issue price today
7.2. Small Investor |   Link |  Bookmark |September 13, 2019 11:32:34 AM
IPO Guru IPO Guru (2100+ Posts, 1100+ Likes)
Only 2 lot trade at upper circuit so far , trading exp not cover at this price so far
let's see next time and days

6. Master Advice |   Link |  Bookmark |September 13, 2019 1:33:30 AM
Aajtak maine itne sme ipo dekhe par kisi mai bhi Qib application nai aayi 1st time mene novateor me 48k ki Qib application dekhi hai jab jab Qib part leti hai tab tab long story hoti hai.
5. Master Advice |   Link |  Bookmark |September 12, 2019 9:54:27 PM
Listing between 24 to 30 good shares for long term
4. Master Advice |   Link |  Bookmark |September 3, 2019 9:26:59 PM
What is the view above novateor whether to fillup the sme ipo or not
4.1. Small Investor |   Link |  Bookmark |September 4, 2019 11:14:24 AM
IPO Guru IPO Guru (2100+ Posts, 1100+ Likes)
Keep Away from this tooth brush company
big avoid this
3. ADITYA DABHI |   Link |  Bookmark |September 1, 2019 4:14:03 PM
Respected Admin Sir, please re-start the general ipo discussion page as earlier was.
3.1. Team |   Link |  Bookmark |September 1, 2019 5:23:02 PM
IPO Guru IPO Guru (1000+ Posts, 1500+ Likes)
Dear Sir,

Are you looking for following page?

It was fixed yesterday.

If you are looking for anything else, please let us know.

Thank you,
Admin @

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3.2. Athar |   Link |  Bookmark |September 2, 2019 11:05:31 PM (200+ Posts)
Yes. I am interested in ipo discussion forum
2. Master Advice |   Link |  Bookmark |September 2, 2019 6:05:50 PM
Hello expert

What is ur view on novateor ipo
1. Nair |   Link |  Bookmark |September 2, 2019 11:32:48 AM
Hi Experts,

Views on the subject share is awaited yet.