Shera Energy Limited Rs 35.20 Cr IPO Opens On 7th February 2023

Shera Energy Limited Logo - File Photo GPN

  • Anchor Investor Bidding 6th February 2023
  • Issue Size – Up To 61,76,000 equity shares of  10 each
  • Issue Size – 35.20 crore
  • Price Band – 55 – 57
  • Market Lot Size – 2,000 Shares

MUMBAI, 2nd FEBRUARY, 2023 (GPN)–Shera Energy Limited, engaged in the business of manufacturing winding wires and strips made of non-ferrous metals like copper, aluminium and brass, proposes to open its Initial Public Offer (IPO) on February 7th, 2023. The Company proposes to garner ₹ 35.20 crore through IPO and shares will be listed on NSE Emerge platform.

The issue size is up to 61,76,000 equity shares out of which Fresh Issue will be up to 10,48,000 equity shares & OFS will be up to 51,28,000 equity shares.

Equity Share Allocation

  • QIB – Up To 25,06,000 Equity Shares
  • NII – Up To 8,20,000 Equity Shares
  • RII – Up To 18,50,000 Equity Shares
  • Employees – Up To 6,00,000 Equity Shares
  • Market Maker – Up To 4,00,000 Equity Shares

The net proceeds from the IPO will be utilized to meet working capital requirements and for general corporate purposes. The issue closes on February 9th, 2023.

The company has already placed 18,00,000 equity shares aggregating to ₹ 10.08 crore in pre-IPO placement.

The Book Running Lead Manager to the Issue is Holani Consultants Private Limited and The Registrar to the Issue is Bigshare Services Private Limited.

Mr. Naseem Shaikh, Chairman and Managing Director, Shera Energy Limited, said,” We are manufacturing products of non-ferrous metals like copper, aluminium and brass all under one roof which gives us added advantage. We have completed majority of our capex and have built strong production capacity.

With increasing demand for our products what we need is working capital to fuel our growth and take the company to the next level and IPO funding will help us.”

Mr. Ashok Holani, Director, Holani Consultants Private Limited, BRLM to the issuesaid Shera Energy is having a scalable business model with wide and diverse product range. The company’s products are widely accepted in the market and with sufficient working capital the company can grow at a good rate.

About Shera Energy Limited:

Incorporated in 2009, Shera Energy Limited is engaged in the business of manufacturing winding wires and strips made of non-ferrous metals primarily copper, aluminium and brass. To focus on business growth, the company has done backward and forward integration to add value-added products in the portfolio. Product range of company includes paper covered wires, enamel and fibre covered wires, round wires, rectangular wires, bunched wires, tubes, rods, strips, etc. These products are mainly used in transformers, motors and electrical panels. The Company is ISO Certified and having vendor approval validation from prestigious organisation such as Power Grid Corporation of India.

They undertake the manufacturing based on the requirements of the customers, therefore they are customized to suit their customers.

Shera Energy Limited is an ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified company. It has received Vendor Approval Validation from Power Grid Corporation of India for various products. All of the products designed and manufactured by the entity are tested and certified by the National Test House and Electrical Research and Development Association on various parameters to ensure supreme quality.

Some of the competitive Strengths of the company are:

  • Strong, experienced, and dedicated senior management team and qualified workforce
  • Long-standing relationships with leading clientele
  • Focus on Quality and Safety
    Established Manufacturing facility
    Innovative Ideas.

Company Financials

Shera Energy Limited Financial Information (Consolidated)
Period Ended Total Assets Total Revenue Profit After Tax Net Worth Total Borrowing
31-Mar-20 27731.94 42619.14 361.43 5624.34 11062.67
31-Mar-21 29315.64 42271.92 502.67 6075.6 10542.28
31-Mar-22 32523.73 52458.21 699.5 6673.35 11812.67
30-Sep-22 33832.97 33953.72 428.25 7054.88 11437.59
Amount in ₹ Lakhs

Objects of the Issue

TheCompany proposes to utilize the Net Proceeds of the Fresh Issue towards the funding of the following objects:

  1. Funding the Working capital requirements of our Company;
  2. General corporate purposes.

Shera Energy IPO Details

IPO Date Feb 7, 2023 to Feb 9, 2023
Listing Date [.]
Face Value ₹10 per share
Price ₹55 to ₹57 per share
Lot Size 2000 Shares
Issue Size 6,176,000 shares of ₹10
(aggregating up to ₹35.20 Cr)
Fresh Issue 1,048,000 shares of ₹10
(aggregating up to ₹5.97 Cr)
Offer for Sale 5,128,000 shares of ₹10
(aggregating up to ₹29.23 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
QIB Shares Offered 48.42% of the Net Offer
NII (HNI) Shares Offered 15.84% of the Net Offer
Retail Shares Offered 35.74% of the Net Offer
Market Maker HOLANI CONSULTANTS PRIVATE LIMITED
Company Promoters Mr. Sheikh Naseem, Mrs. Shivani Sheikh and M/s Isha Infrapower Private Limited are the Promoters of the Company.

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.

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