FINE ORGANIC INDUSTRIES LTD IPO
GMP:
As on 22 june: 20
As on 20 june: 30
As on 23 june: 31/33
Subscription on Day 3:
| QIB | NII | RII | Total | |
| Shares Offered | 15,32,999 | 11,49,750 | 26,82,748 | 53,65,497 |
| Number of times Subscribed | 12.8532 | 21.0032 | 1.3200 | 8.8316 |
What Fine Organic is?
Fine Organics was the established by Mr. Ramesh Shah and Mr. Prakash Kamat having experience in chemical trading and a skilled technocrat from Institution of Chemical Technology respectively.
Ramesh Maganlal Shah and Prakash Damodar Kamat have established ‘Fine Organic Industries’ in 1970 at Mumbai. It was registered in 1973 as a partnership firm under the Indian Partnership Act, 1932 and commissioned its first facility in Dombivli MIDC Industrial Area in 1973,
i.e. the Dombivli Facility.
It was to carry out processing and supply of food additives in Gujarat and Maharashtra.
Mukesh Maganlal Shah joined the partnership firm and the business expanded by him across all over the India In 1975.
Then existing partners incorporated a private limited company at Mumbai as ‘Smoothex Chemicals Private Limited’ for expansion of the business in 1982.
The partnership firm had set up a production facility of various specialty additives i.e. the Second Ambernath Facility In 1988.
With constant progress Smoothex Chemicals expanded the production facilities in Malaysia and Thailand in 1990 and 1993.
Then the existing partners founded another partnership firm in the name of ‘Olefine Organics’ for enhancing the capacity in order to meet the market demands.
Promoters incorporated another private limited company named Oleofine Organics (India) Private Limited for expanding the capacity for polymer additives In 1995.
COMPANY AT TODAY:
Today, Fine organics industries LTD’s range of innovative additives have been expanded their reach in several specialty applications in food, textiles, paints, inks, plastics, cosmetics, rubber and many more. Their products are appreciated and accepted globally due to their consistent quality and competitiveness.
Currently this company has three major production facilities in Ambernath, Badlapur, and Dombivli in Maharashtra. These three facilities have a combined installed capacity of approximately 64,300 tonnes per annum as of December 31, 2017.
It is a technology and customer-driven company. Fine Organics industries LTD has a privileged position in the specialty additives industry globally.
The company has a dedicated research and development (“R&D”) center located in Mahape, Navi Mumbai.
Why Fine Organics has growth and bright success?
Reasons are as below.
- its expertise on oleochemistry
- In-house manufacturing technology
- Customer-centric research and development
- A techno-commercial mindset.
- Highly qualified technocrats in marketing, production and quality control
- Company provides exceptional support to their customers, suppliers and distributors.
- Today the Company owns 596 full-time employees on its payroll.
Company Promoters:
- Prakash Damodar Kamat
- Mukesh Maganlal Shah
- Jyotsna Ramesh Shah
- Jayen Ramesh Shah
- Tushar Ramesh Shah and
- Bimal Mukesh Shah.
(The Promoters hold, in the aggregate, 30,659,976 Equity Shares, representing 100% of the issued and paid-up equity share capital of the company.)
List of creditors of Fine Organic Industries Limited:
| Particulars | Number of creditors | Aggregate amount due (Rs. In Millions) |
|---|---|---|
| Amount due less than 0.1 million
Amount due 0.1 million or more and less than 0.5 million Amount due 0.5 million or more and less than 1 million Amount due 1 million and more |
271
89 20 48 |
6.27
21.01 13.42 737.88 |
| Total | 428 | 778.58 |
(Please note that this information is being provided pursuant to provisions of Schedule VIII (PART A)(2)(X)(A)(2)(iii) of the SEBI ICDR Regulations and is not a part of the draft red herring prospectus. Potential investors should not rely on the information provided herein for any investment decisions.)
COMPANY FINANCIALS:
| Particulars | For the year/period ended (in Rs. Millions) |
|||||
|---|---|---|---|---|---|---|
| 31-Dec-17 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | |
| Total Assets | 4,835.99 | 4,576.40 | 4,228.49 | 3,776.57 | 3,411.16 | 2,553.78 |
| Total Revenue | 5,928.23 | 7,892.24 | 6,661.22 | 6,180.49 | 5,746.49 | 4,975.10 |
| Profit After Tax | 625.89 | 794.76 | 769.64 | 590.91 | 626.12 | 208.97 |
Fine Organic Industries Ltd Offer Details:
| Issue Open Date | 20-06-2018 |
| Issue Close Date | 22-06-2018 |
| Listing Date | N/A |
| Face Value (Rs) | 5.00 |
| Offer Price/Range | (Rs)780.00-783.00 |
| Issued at (Value) | Premium (778.00) |
| Issue Size (Retail) | 2682748.00 [email protected]/share |
| Issue Type | Public Cum Offer for Sale (Book Building) |
The key strengths of Fine Organics:
- The largest producer of oleochemical-based additives in India
- Diversified and strong customers
- Strong and innovative R&D
- Highly diversified product portfolio
- Leading company of the industry which has lots of entry barriers
- Restricted completion in the industry
Investor must note that the the proceeds of IPO is not intended to use for company’s purpose but to provide liquidity to current shareholder by listing on stock market and entering in public market hence the IPO is very good to make investment and be the part of the company having shining future.
Fine Organic IPO Registrar:
Karvy Computershare Private Limited
Karvy House, 46, Avenue 4, Street No. 1,
Banjara Hills, Hyderabad – 500 034
Andhra Pradesh, India
Phone: +91-40-23312454
Fax: +91-40-23311968
Email: [email protected]
Website: http://karisma.karvy.com
Company Contact Information:
Fine Organic Industries Limited
Fine House,
Anandji Lane
Ghatkopar (East), Mumbai 400 077
Phone: (91 22) 2102 5000
Fax: (91 22) 2102 8899
Email: [email protected]
Website: http://www.fineorganics.com