ICE Make Refrigeration Ltd IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| NII (HNI) | — | 1,976,000 (48%) | — | ₹1,126 Cr |
| Retail | — | 1,976,000 (48%) | — | ₹1,126 Cr |
| Market Maker | — | 208,000 (5%) | — | ₹12 Cr |
| Σ Total | — | 4,160,000 (100%) | — | ₹23,712 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 | 2,000 | ₹114,000 |
| Retail (Max) | 13 | 26,000 | ₹1,482,000 |
| S-HNI (Min) | 14 | 28,000 | ₹1,596,000 |
| B-HNI (Min) | 67 | 134,000 | ₹7,638,000 |
Financial Statements Amount in ₹ Lakhs
| Metric | 30-Jun-2017 | 31-Mar-2017 | 31-Mar-2016 |
|---|---|---|---|
| Revenue | 2,305 | 8,788 | 7,182 |
| Profit After Tax | 147 | 511 | 264 |
| Net Worth | 1,695 | 1,549 | 1,038 |
| Total Assets | 5,318 | 5,488 | 3,867 |
| Reserves & Surplus | 544 | 1,549 | 1,038 |
| Total Borrowing | 1,545 | 1,438 | 1,348 |
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
- To finance the capital expenditure for – 14.57
- Setting up of a coil manufacturing facility at Dantali – 6.24
- Upgradation of the existing facilities at Dantali – 6.99
- Construction of an administration office at Dantali – 1.33
- Expenditure towards enhancement of our brand through brand building activities – 1.50
- Investment in Bharat Refrigerations Private Limited (Wholly Owned Subsidiary) for upgradation of the existing facilities at Chennai – 1.10
- To meet the incremental working capital requirement – 5
- General Corporate Purpose – 0.44
Company Overview
Incorporated in 1993, ICE Make Refrigeration Ltd is Ahmedabad, Gujrat based manufacturer of refrigeration equipment under the brand of 'Ice Make'.
Company provide cooling solutions for cooling systems and accessories used in industries such as dairy, ice-cream, food processing, agriculture, pharmaceuticals, cold chains, logistics, hospital, hospitality and retail, among others.
ICE Make classifies its business into the following 4 verticals:
1. Cold Room
2. Commercial Refrigeration
3. Industrial Refrigeration and
4. Transport Refrigeration.
Company's top 5 products are Cold Room, Commercial Freezer, Chiller, Refrigerated Vehicle and Ice Cream Hardener.
The manufacturing facilities of our Company are located at Dantali, Gujarat and the manufacturing facilities of our Wholly Owned Subsidiary are located at Chennai, Tamil Nadu.
Key strengths
1. Manufacturers of wide range of refrigeration equipments
2. Providing customized solutions with a focus on after sales service
3. Well established manufacturing facilities
4. Strong marketing and distribution network
5. Catering to clients from diverse sectors and industries