Business description from prospectus – Ice Make Refrigeration is a refrigeration equipment manufacturer, engaged in providing cooling solutions.
It provides 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.
The company classifies its business into the following 4 verticals: (i) Cold Room (ii) Commercial Refrigeration (iii) Industrial Refrigeration and (iv) Transport Refrigeration.
It operates business verticals under the brand of “Ice Make”.
In December 2016, it acquired ‘Bharat Refrigerations Private Limited’, a company based in Chennai, engaged in a business similar to its business, which is now a wholly owned subsidiary. Bharat Refrigerations Private Limited is present in the above business verticals through the brands named ‘Bharat’ and ‘Trans Freez’.
The manufacturing facilities of Ice Make Refrigeration are located at Dantali, Gujarat and the manufacturing facilities of its wholly owned Subsidiary are located at Chennai, Tamil Nadu.
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Its dealers and associates are present in the cities of Bikaner, Cochin, Cuttack, Goa, Hubli, Jodhpur, Kolhapur, Kolkata, Nagpur, Patna, Pune, Pondicherry, Trivandrum, Kathmandu and Colombo.
Promoters of Ice Make Refrigeration – Mr Chandrakant P Patel, Mr Rajendra P Patel and Mr Vipul I Patel
Ice Make Refrigeration IPO details
|Subscription Dates||28 – 30 November 2017|
|IPO Price band||INR55 – 57 per share|
|Fresh issue||4,160,000 shares (INR22.88 – 23.71 crore)|
|Offer for sale||Nil|
|Total IPO size||4,160,000 shares (INR22.88 – 23.71 crore)|
|Minimum bid (lot size)||2,000 shares|
|Face Value||INR10 per share|
|Listing On||NSE Emerge SME platform|
Ice Make Refrigeration’s financial performance (in INR crore)
|Profit after tax||0.8||0.9||0.9||2.6||5.1||1.5|
Ice Make Refrigeration Limited
Survey Number 227, Dantali Industrial Estate
Gota Vadsar Road, Near Ahmedabad City
Taluka Kalol, Gandhinagar 382721
Phone: +91 9879107881
Earnings Per Share (EPS): INR4.42
Price/Earnings (P/E) ratio: 12.44 – 12.89
Return on Net Worth (RONW): 32.91%
Net Asset Value (NAV): INR21.50 per share
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Ice Make Refrigeration IPO allotment status is now available on Link Intime’s website.
Click on this linkto get allotment status.
IPO Opening Date: 28 November 2017
IPO Closing Date: 30 November 2017
Finalisation of Basis of Allotment: 5 December 2017
Initiation of refunds: 6 December 2017
Transfer of shares to demat accounts: 7 December 2017
Listing Date: 8 December 2017
Listing Price on NSE SME: INR68.4 per share (up 20% from IPO price)
Closing Price on NSE SME: INR68.4 per share (up 20% from IPO price)