Archives: Ipos

Aeroflex Industries Ltd. (AIL), a subsidiary of SAT Industries Ltd., is engaged in the business of manufacturing and supplying metallic flexible flow solution products which include braided hoses, unbraided hoses, solar hoses, gas hoses, vacuum hoses, braiding, interlock hoses, hose assemblies, lancing hose assemblies, jacketed hose assemblies, exhaust connectors, exhaust gas recirculation (EGR) tubes, expansion bellows, compensators, and related end fittings. The company’s flexible flow solutions are made with stainless steel corrugation conforming to BS 6501 Part 1, ISO 10380, and PED CE with diameter sizes ranging from 0.25 inch to 14 inches and designed to handle temperatures levels from negative 196 degrees celsius to 982 degrees celsius and pressure handling capacity of up to 300 bars. The business product offerings (1,700+ SKUs) enable the flow of all forms of substances – air, liquids and solids and cater to a wide range of end-user industries like steel, oil and gas, refineries, fire sprinklers & fire fighting, chemicals & petrochemicals, metals & mining, solar and other industries. The company has a manufacturing facility located at Taloja, Maharashtra. As of March 31st 2023, the export side of the business contributed to 80.6% of the revenue from operations, by serving 217 customers across 51 countries. The remaining business was domestically driven which catered to 506 customers in FY23

Incorporated in 1997, Pyramid Technoplast Limited is an industrial packaging company involved in the business of manufacturing polymer-based molded products (Polymer Drums) mainly used by agrochemical, specialty chemical, and pharmaceutical companies for their packaging requirements. They are one of the leading manufacturers of rigid Intermediate Bulk Containers (IBC) in India and manufacture 1,000-litre capacity IBC. IBCs are industrial-grade containers engineered for the mass handling, transport, and storage of liquids, semi-solids, pastes, or solids. The company also manufactures MS Drums made of mild steel (MS) used in the packaging and transport of chemicals, agrochemicals, and specialty chemicals. Presently, they have six strategically situated manufacturing units out of which four are in Bharuch, GIDC, and two are situated at Silvassa. The seventh manufacturing unit is under construction at Bharuch, GIDC.

TVS Group commenced its operations as ‘TVS Logistics’, a division of TVS & Sons in 1995 before being incorporated as a separate company in 2004. As per the Redseer Report, TVS Supply Chain Solutions Ltd. is India’s largest and fastest growing integrated supply chain solutions provider among Indian listed supply chain solutions companies in terms of revenues and revenue growth, respectively, in FY23. The company’s operating segments consist of Integrated Supply Chain Solutions (ISCS) and Network Solutions (NS). The integrated end-to-end supply chain solutions include sourcing and procurement, integrated transportation, logistics operation centres, in-plant logistics operations, finished goods and aftermarket fulfilment. In fiscal 2023, they provided services to 412 customers in the ISCS segment. In Network Solutions (NS), they offer customers Global Forwarding Solutions (“GFS”) and Time Critical Final Mile Solutions (“TCFMS”). In fiscal 2023, they provided services to 8,376 customers in the NS segment. Over a span of more than 16 years, the company has managed large and complex supply chains across multiple industries in India and select global markets through customized tech-enabled solutions. Globally, they have provided supply chain solutions to 11,546, 10,531 and 8,788 customers during FY21, FY22 and FY23, respectively. In India, they have provided their solutions to 1,120, 1,044 and 902 customers in the same years, respectively. The company added an aggregate of 1,179; 152 and 177 new customers (i.e. new customers whom the company did not provide any services in the immediately preceding year) in FY21, FY22 and FY23, respectively. TVS has developed long-term relationships with several clients, which has provided resilience to its revenue and profitability. Some of its customers with whom they have had long-term relationships as of March 31, 2023, include Sony India Private Limited (12 years), Hyundai Motor India Limited (13 years), Johnson Controls-Hitachi Air Conditioning India Limited (3 years), Ashok Leyland Limited (17 years), TVS Motor Company Limited (17 years), Diebold Nixdorf (8 years), TVS Srichakra Limited (10 years), to name a few.

SBFC Finance Ltd. (SBFC) is a systemically important, non-deposit taking non-banking financial company offering loans including secured Micro, Small and Medium Enterprises loans and loans against gold, with a focus on ticket size in the range of Rs. 5 lakhs to Rs. 30 lakhs. As of March 31, 2023, it had a footprint in 120 cities, spanning 16 Indian states and two Union Territories, with 152 branches. Among MSME-focused NBFCs in India, SBFC has one of the highest assets under management growth, at a CAGR of 44% in the period from FY19 to FY23 (Source: CRISIL Report). It has also witnessed healthy disbursement growth, at a CAGR of 40% between FY21 and FY23. SBFC primarily focuses on small enterprise borrowers, whose monthly income is up to Rs. 1.5 lakhs, with a demonstrable track record of servicing loans such as gold loans, and loans for two wheeler vehicles and have a CIBIL score above 700 at the time of origination. SBFC has a diversified pan-India presence, with an extensive network in its target customer segment. Their  geographically diverse distribution network spread across the North, South, East and West zones, allows it to penetrate underbanked populations in tier II and tier III cities in India. As of March 31, 2023, their AUM is diversified across India, with 30.84% (Rs. 1,524.2 crores) in the North (in the states of Chandigarh, Delhi, Haryana, Punjab, Rajasthan, Uttar Pradesh and Uttarakhand), 38.53% (Rs. 19,04.8 crores) in the South (in the states of Karnataka, Andhra Pradesh, Telangana, Tamil Nadu and Puducherry), and 30.63% (Rs. 1,513.8 crores) in the West and East collectively (in the states of Gujarat, Madhya Pradesh, Maharashtra, West Bengal, Assam and Bihar). They source customers directly through their sales team of 1,911 employees as of March 31, 2023, and have adopted a direct sourcing model through branch-led local marketing efforts, repeat customers or walk-ins.

Concord Biotech is an India-based biopharma company that is into the development and manufacturing of select fermentation-based APIs. The company manufactures biopharmaceutical APIs through fermentation and semi-synthetic process across the therapeutic areas of immunosuppressants, oncology, and anti-infectives; and formulations that are used in therapeutic areas of immunosuppressants, nephrology drugs, and anti-infective drugs for critical care. The company is among a few companies globally that have successfully and sustainably established and scaled up fermentation-based API manufacturing capabilities. The company is one of the leading global developers and manufacturers of select fermentation-based APIs across immunosuppressants and oncology in terms of market share, based on volume in 2022, supplying to over 70 countries including regulated markets such as the United States, Europe, Japan, and India.

Headquartered in Noida, Uttar Pradesh, Yatharth Hospital and Trauma Care Services Ltd. commenced operations in 2008 with a clinic and thereafter established its first hospital in Greater Noida, Uttar Pradesh in November 2010. The hospital has since then seen a transformational journey to become a super-speciality tertiary care hospital. The company then expanded via the inorganic route through the acquisition of a multi-speciality hospital in Orchha, Madhya Pradesh which commenced commercial operations on April 10, 2022, and is one of the largest hospitals in that region in terms of the number of beds. The company’s hospitals are amongst the largest private hospitals in the Delhi NCR region in terms of the number of beds in FY23. Currently, they operate three super specialty hospitals with a total bed capacity of 1,405 beds. In addition, their critical care program comprises 394 critical care beds, as of March 31, 2023. The company’s USP is its super specialty hospitals that involve equipping these specialties with (i) advanced medical infrastructure; (ii) trained and experienced doctors, nursing, paramedical and other staff; and (iii) resources to provide a better healthcare experience to the patient and attendants. The company’s hospitals are accredited by the NABH, with hospitals at Greater Noida and Noida Extension accredited by NABL as well. The company has taken a leap of faith and started bone marrow and kidney transplant operations and also intends to introduce new specialties such as radiation therapy in its oncology department. The company has deployed advanced medical equipment such as Azurion catheterization laboratory, 1.5 Tesla whole-body MRI with optical digital broadband and embedded express coil technology for minimal patient repositioning and advanced non-contrast MR Angiography, 128 slice CT scan, endo bronchial ultrasound, nerve conduction velocity (“NCV”), advanced surgical equipment including Thulium Uro laser, flexible scope, advance laparoscope, advance microscopes, and Cusa set. The advanced equipment provides for better and more accurate diagnosis, as well as further insight into the surgical procedure, which increases the surgical success rate.

On October 7, 2015, Utkarsh Core Invest Limited received the RBI in-principle approval to establish a Small Finance Bank (SFB), following which it incorporated Utkarsh Small Finance Bank Limited as a wholly-owned subsidiary on April 30, 2016. Subsequent to obtaining the RBI license on November 25, 2016, to establish and carry on business as an SFB, Utkarsh CoreInvest Limited transferred its business of providing microfinance, as a going concern into the bank, which commenced operations from January 23, 2017, and expanded its SFB operations strategically in states where they have been able to leverage the prior microfinance experience of Utkarsh Core Invest Limited. Utkarsh SFB, headquartered in Varanasi, Uttar Pradesh, is the third fastest growing SFB with a gross loan portfolio of more than Rs. 60 billion. The bank’s operations are spread across India and are present in 26 States and Union Territories with 830 banking outlets and 15,424 employees. As of March 31, 2023, it has 3.59 million customers (both deposit and credit), majorly located in rural and semi-urban areas in the states of Bihar and Uttar Pradesh.

Incorporated in 2000, PKH Ventures Ltd. is in the business of construction & development, hospitality and management services. They are into the execution of civil construction works for third-party developers on a project basis and have been awarded two government projects viz., Hydro Power Pro- ject and Nagpur Project, and three Government Hotel Development Projects viz., Rajnagar Garhi Project, Pahadikhurd Project and Tara Resort Project. The civil construction business is executed by their subsidiary and construction arm, Garuda Construction. The company’s hospitality vertical is in the business of owning, managing and operating hotels, restaurants, QSRs, spas and the sale of food products. PKH Ventures have been responsible for the development of the Delhi Police Head- quarters in April 2021, which involved the construction of twin towers of seventeen storeys each, with a complete glass façade and steel bridge connecting the two towers. The company is looking forward to developing forthcoming development projects which include real estate development at Amritsar, Punjab; real estate redevelopment project at Dadar-Matunga, Mumbai; agro-processing cluster at Jalore, Rajasthan; cold storage park/facilities at Indore, Madhya Pradesh; and a wellness centre & resort at Chiplun, Maharashtra. The knowledge and experience gained while developing their Mum- bai hotels led the promoter to venture into the business of civil construction through, Garuda Con- struction, which is now their subsidiary since 2 April 2020. Garuda Construction provides end-to-end construction services for residential and commercial buildings. Under the Management Services ver- tical, the company in the past managed airport entry ticket counters, retail outlets at airports and toll management services. Presently, there are no such active contracts for these Management Services. At present under Management Services vertical, they provide services for the annual maintenance of the DelhiPolice headquarters as per the agreement entered into with the concessionaire.

ideaForge Technology Ltd, a manufacturing company offering Unmanned Aircraft Systems (UAS), is engaged in drone manufacturing and deployment with applications across mapping, security and surveillance. The company has categorized its product portfolio into hardware, software and embedded sub-systems. The company offers a broad range of products with feature-based differentiation targeted to serve civil services and defense (dual use). The company’s growth in revenue and profitability can be accredited to the robust product portfolio and technology differentiation with a market share of 50% in FY22. Along with this, their drones assist defense forces in conducting intelligence, surveillance and reconnaissance (ISR) operations along borders, help navigate a wide range of mining area planning and help boost construction and real estate. The reach and acceptance of the company’s products can be gauged from the fact that an ideaForge- manufactured drone takes off every five minutes for surveillance and mapping on average. Presently, the company has its manufacturing facility in Navi Mumbai, Maharashtra, with in house automation systems, modern technology and advance equipment catering to 100 channel partners and three national distributors as of 31 May 2023.

HMA Agro Industries Ltd. (HAIL) is a three-star export house recognized by the Government of India. It’s a flagship company of the HMA Group which has been in the meat industry for over four decades. HAIL is currently among the largest exporters of frozen buffalo meat products from India and it accounts for more than 10% of India’s total export of frozen buffalo meat. The company products are mainly packaged under the brand name Black Gold, Kamil & HMA and exported to over 40 countries across the globe. The company deals in buffalo meat and allied products. Unlike beef or pork, buffalo meat is free from religious constraints and has the added advantage of low fat and cholesterol. The company has four fully integrated packaged meat processing plants which are located at Aligarh, Mohali, Agra, and Parbhani, and is in the process of setting up a fifth fully integrated-owned meat product processing unit in Haryana. HAIL is also in advanced stages to acquire an additional plant at Unnao and expects to complete this acquisition by Q2FY24. These plants together would take total in-house meat product processing capacities to more than 4,00,000 mtpa spread over six different owned plants by FY24. Further, the procurement of raw material is done by the company and then this raw material is sent to various processing units to process the raw material into final products. It exports these branded finished products through its distribution channels and most of these processing units are owned by its subsidiaries and third parties own some.