Auro Impex & Chemicals Limited IPO

11 May 2023|

2 min read |

by ICICI Securities Team

About the company

Auro Impex & Chemicals Limited is an Auro Group Company founded in 1994. This is an ISO 9001:2015 certified company that focuses on the manufacturing, exporting and supply of Discharge & Collecting Electrodes, and Electrostatic Precipitator (ESP) internal parts and spares.

Products

Auro Impex & Chemicals Limited is involved in manufacturing of Collecting Electrodes of all profiles, Discharge Electrodes, Electro- magnetic rapper, Tank Fabrication and Duct Fabrication, and other ESP Internal spare parts, for some Original Equipment manufacturers (OEMs) and service providers ranging from sourcing of components, designing, manufacturing, quality testing as per the specifications provided by OEMs and service providers.

Business Model

The company has been selling its products through OEMs and Service Providers like – Larsen & Toubro Limited, Isgec Heavy Engineering Limited, Thermax Limited, KC Cottrell India Private Limited, Par Techno-Heat Pvt Ltd, Hariaksh Industries Private Limited, Imeco Overseas Private Limited and Filter Flow Engineering Private Limited amongst others.

Strengths

Consistent focus on quality and safety
Established manufacturing facilities with over decades of operations in the heavy electrical and engineering industry
Established distribution network and long term relationship with customers

IPO Details:

IPO subscription dates: May 11 to May 15, 2023

Price: Rs. 74-78 per share

Lot size: 1,600 shares (i.e., Rs. 1,18,400 to Rs. 1,24,800)

IPO Objective

The funds generated would be utilised for the following objectives:

To meet the capital requirements
General corporate purpose and to meet the issue expenses.

Company Financials

Particulars	For year ended March 31, 2023	For year ended March 31, 2022	For year ended March 31, 2021
Net worth (in lakhs)	1252.20	695.09	490.5
Total Borrowings (in lakhs)	3657.46	2411.65	1583.72
Total Revenues (in lakhs)	18169.41	11078.24	7372.70
Basic/Diluted earnings per share	6.00	2.20	0.98

*as per RHP

Major Business-Related Risk

The company’s business is dependent on limited customers and a remarkable reduction in purchases or the loss of customers could impact the business adversely.
There is a heavy dependency on a few suppliers for raw materials, so any delays could have a cascading impact on the business.
There is a heavy risk of production cost increase as the products are designed as per the specifications provided by the OEMs or Service providers.
The company has only one manufacturing facility and is affected by the prices, availability and quality of the raw materials used in production.
It has availed certain unsecured loans from various body corporates and had a had negative cash flows in the past years.
There are outstanding legal proceedings involving the Company, Promoters and Directors.

How to apply for a Quick IPO on ICICI Direct?

Select IPO

Go to the IPO section, select the IPO you want to apply for from the list, and click on ‘Apply’.

Fill in the required details

Fill in the number of shares you want to buy. To apply at maximum price, check the cut-off price box and amount is auto-calculated. If you want to apply at some other price within the price band, then you can enter the price manually by clicking on the “Add bid” option.

Confirm your request

Click on proceed to confirm the order. You can view the placed order under “Order book”. If you are applying using UPI, check the A/C and UPI details before clicking on proceed. You will get a UPI link through which the payment can be made.

Disclaimer

ICICI Securities Limited has its registered office at ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400025, India, Tel No:- 022 - 2288 2460, 022 - 2288 2470. The non-broking products / services like iLearn and Financial Learning are not exchange traded products / services and ICICI Securities Ltd. is just acting as a distributor/ referral Agent of such products / services and all disputes with respect to the distribution activity would not have access to Exchange investor redressal or Arbitration mechanism. iLearn is not an exchange traded product/service of ICICI Securities Ltd. All disputes with respect to the activity on the platform would not have access to Exchange investor redressal or Arbitration mechanism.

ICICI Securities Ltd. is a Member of National Stock Exchange of India Ltd (Member Code :07730), BSE Ltd (Member Code :103) and Member of Multi Commodity Exchange of India Ltd. (Member Code: 56250) and having SEBI registration no. INZ000183631. ICICI Securities Ltd. is a SEBI registered with SEBI as a Research Analyst vide registration no. INH000000990. Name of the Compliance officer (broking): Mr. Atul Agrawal, Contact number: 022-69997051, E-mail address: complianceofficer@icicisecurities.com Investments in securities markets are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. ICICI Securities Ltd. and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Such representations are not indicative of future results. The securities quoted are exemplary and are not recommendatory. AMFI Regn. No.: ARN-0845. PFRDA registration numbers: POP no -05092018. ICICI Securities Ltd. acts as a Composite Corporate agent having registration number -CA0113. Mutual Fund Investments are subject to market risks, read all scheme related documents carefully. Please note, Mutual Fund, Corporate Fixed Deposits, Bonds, Alternate investment funds, Tax planning, Succession planning, NPS, IPO, Investment Advisory and Loans related services are not Exchange traded products and ICICI Securities Ltd. is acting as a distributor to solicit these products. Please note, Insurance related services are not Exchange traded products and ICICI Securities Ltd. is acting as a corporate agent to solicit these products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The non-broking products / services like Research, etc. are not exchange traded products / services and all disputes with respect to such activities would not have access to Exchange investor redressal or Arbitration mechanism. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose.

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