Aster Silicates Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 2,250,000 (50%) | — | ₹2,655 Cr |
| NII (HNI) | — | 675,000 (15%) | — | ₹797 Cr |
| Retail | — | 1,575,000 (35%) | — | ₹1,859 Cr |
| Σ Total | — | 4,500,000 (100%) | — | ₹53,100 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹5,900 |
| Retail (Max) | 13 | 650 | ₹76,700 |
| S-HNI (Min) | 14 | 700 | ₹82,600 |
| B-HNI (Min) | 67 | 3,350 | ₹395,300 |
Financial Statements Amount in Lakhs
| Metric | 30-Sep-09 | 31-Mar-09 | 31-Mar-08 |
|---|---|---|---|
| Revenue | 3,031 | 3,409 | 1,699 |
| Profit After Tax | 232 | 255 | 66 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 Expansion of Manufacturing facilities – 44.32
- 2 Additional Working Capital Requirements – 7.50
- 3 Public Issue expenses – 5.00
Company Overview
Incorporated in 1996, Aster Silicates Ltd is engaged in the business of manufacturing of sodium silicate which includes food grade sodium silicate, special drilling grade silicate and detergent grade silicate. Aster Silicates produce sodium silicate both in glass and liquid form. Food grade sodium silicate is used in the manufacturing of Silica precipitate and Gel which finds its applications in toothpaste, salt, cosmetics, glucose powder, tyre & rubber and pesticides etc. Sodium silicate, (special drilling grade silicate) is also used in off-shore drilling and for reactivation of old oil and gas fields. The sodium silicate manufactured by Aster is also used in water-proofing, infoundries and for investment casting, paper, silica gel, textiles and detergents.
Currently, Aster operate from two units in Gujarat having aggregate installed capacity of 150 MT of glass/day. Unit I has three furnaces with an average combined capacity of 100 MT of glass/day. Unit II has a single furnace with a capacity of 50 mts of glass/day, which is also triple pass regenerative and recuperative end fired glass furnace.
For the proposed project, Company intends to install a special designed triple pass regenerative and recuperative Furnace of 100 MT capacity each capable of working on biogas with a facility of having duel fuel arrangement for working on other fuel like Natural Gas etc. The furnace shall be capable of being operated both manually and automatically, and shall also possess versatility for manufacturing Sodium Silicate in glass and liquid format. For the expansion of manufacturing facilities at Bharuch, company initially intend to use Natural gas from Gujarat Gas Company Limited as a source of fuel. However, gradually, they intend to shift the fuel source to Biogas, and have Natural gas as a standby arrangement.