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Hans India
3 hours ago
- Business
- Hans India
Kent RO gets SEBI nod for IPO, DRHP shows mixed financial performance over years
Mumbai: Kent RO Systems, a water purifier company, has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). While this marks an important milestone for the company, its financials tell a mixed story with some concerns. Kent RO's latest financial data reveals a strong profit jump in FY24, but this comes after a sharp fall in the previous fiscal (FY23). The company had posted a profit of Rs 166.5 crore for the year ended March 31, 2024, compared to Rs 97.1 crore in FY23. While this is a big jump of around 71 per cent, it's important to note that the profit had dropped by over 37 per cent in FY23 from Rs 154.2 crore in FY22. The company's total expenses also rose by 6.42 per cent year-on-year (YoY), from Rs 976.9 crore in FY23 to Rs 1,039.6 crore in FY24. According to the DRHP, the company reported revenue from operations of Rs 1,178.1 crore for the FY24, compared to Rs 1,084.3 crore in the previous financial year. This marks a growth of around 8.65 per cent YoY. Total income for FY24 stood at Rs 1,260.6 crore, up from Rs 1,109.1 crore in FY23 -- an increase of 13.65 per cent. Meanwhile, for the six-month period ending September 30, 2024, Kent RO reported revenue from operations at Rs 637.1 crore and total income at Rs 684 crore. During the same period, the company recorded expenses of Rs 594.6 crore and a profit of Rs 69.6 crore, as per the DRHP paper. The IPO, which is a pure offer for sale (OFS), will see 10.1 million shares offloaded by promoters Sunita Gupta, Mahesh Gupta, and Varun Gupta. Since it is not a fresh issue, the company itself will not receive any funds from this public offering. The draft paper was filed with SEBI on January 23, and the approval came on June 6. The IPO price band has not been disclosed yet. JM Financial and Motilal Oswal Investment Advisors will act as the book-running lead managers, while KFin Technologies is the registrar to the issue.
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Business Standard
2 days ago
- Business
- Business Standard
Kent RO, 3 others get Sebi nod for IPOs: Here's all you need to know
Upcoming IPOs: Four companies, including Kent RO Systems, Karamtara Engineering, Vidya Wires and Mangal Electrical Wires, have received approval from the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO). These companies are collectively expected to raise around ₹2,500 crore through their public issues. The companies filed their draft papers with the market regulator in January 2025. Here are the key details you should know: Kent RO Systems The water purifier company has received Sebi's nod for a book-built IPO comprising an offer for sale (OFS) of 10.1 million shares by promoters Sunita Gupta, Mahesh Gupta, and Varun Gupta. The company will not receive any proceeds from the offer. Kfin Technologies is the registrar of the issue. JM Financial and Motilal Oswal Investment Advisors are the book-running lead managers of the issue. Karamtara Engineering Services The plans to raise ₹1,750 crore through a combination of fresh issues worth ₹1,350 crore and an offer for sale (OFS) worth ₹400 crore. MUFG Intime India, formerly Link Intime, is the registrar of the issue. JM Financial, ICICI Securities, and IIFL Capital Services are the book-running lead managers. According to the draft red herring prospectus (DRHP), the company plans to use ₹1,050 crore from the net fresh issue proceeds for prepayment, repayment and/or payment to its lenders towards borrowings and Acceptances, in part or full. Karamtara Engineering is a backward-integrated manufacturer of products for renewable energy and transmission line sectors. The company has a diverse product portfolio including structures and fasteners in the solar energy and transmission sectors, and overhead transmission line (OHTL) hardware fittings and accessories. Mangal Electrical The Rajasthan-based transformer and electrical equipment manufacturer aims to raise ₹450 crore through an IPO. The IPO, with a face value of ₹10, is entirely a fresh issue of shares up to ₹450 crore with no offer-for-sale component. According to the DRHP, from the net issue proceeds, ₹96.03 crore will be used for repayment/ prepayment, in full or in part, of certain outstanding borrowings, ₹120 crore for expanding the facility at Unit IV situated Reengus, Sikar District, Rajasthan and civil works at its existing head office, Jaipur, Rajasthan to optimise space usage and increase storage capacity, and ₹122 crore for funding working capital requirements. The remaining funds will be used for general corporate purposes. Mangal Electrical Industries is in the business of processer of transformer components, including transformer lamination, CRGO slit coils, amorphous cores, coil assemblies and core assemblies, wound core, toroidal core, and oil-immersed circuit breakers. The company has five production facilities in Rajasthan with an aggregate production capacity of 16,200 MT for CRGO, 7,50,000 KVA for transformers, 75,000 units for ICB and 2,400 MT for Amorphous units per annum. Vidya Wires The copper and aluminium wires company plans to raise ₹320 crore through a fresh issue and an OFS for 10 million shares. MUFG Intime India, Link Intime, is the registrar for the issue. Pantomath Capital Advisors and IDBI Capital Market Services are the book-running lead managers of the Vidya Wires IPO. Incorporated in 1981, Vidya Wires manufactures winding and conductivity products for various industries, including precision-engineered wires, copper strips, conductors, busbars, specialized winding wires, PV ribbons, and aluminium paper-covered strips. The company has expanded its manufacturing capacity to 19,680 MT per annum and plans to increase it to 37,680 MT per annum with an additional 18,000 MTPA units in Narsanda, Gujarat.
Time of India
2 days ago
- Business
- Time of India
Kent RO Systems among four firms to win Sebi nod for IPOs
India's capital markets regulator Sebi (Securities and Exchange Board of India) has given the green light to initial public offerings of four companies, including water purification giant Kent RO Systems, in a move that underlines the growing momentum in the country's IPO pipeline across manufacturing and energy sectors. The four companies that received IPO approvals are Kent RO Systems, Vidya Wires, Karamtara Engineering, and Mangal Electrical Industries. Their proposed offerings, spanning a mix of fresh issues and offers for sale, reflect a wide industry spread from water purifiers and kitchen appliances to transformers, specialty wires, and renewable energy infrastructure. Kent RO Systems Kent RO Systems, a pioneer in India's water purifier industry, has received Sebi approval for a book-built IPO comprising an offer for sale of 1.01 crore equity shares by promoters Sunita Gupta, Mahesh Gupta, and Varun Gupta. The company will not receive any proceeds from the offer. 'The object of the offer is to achieve the benefits of listing the equity shares on the stock exchanges,' the company said in its draft red herring prospectus. Incorporated in 2007, Kent is credited with bringing reverse osmosis (RO) technology into Indian homes. Its NSF/ANSI 58-certified purifiers were the first in India to meet this U.S.-based national standard for point-of-use RO systems. The brand has since expanded into IoT-enabled and zero-water-wastage models, while also foraying into BLDC motor fans, high-speed mixers, and infrared cooktops. Kent operates four manufacturing units and has a wide service network spanning 15,000+ pin codes. JM Financial and Motilal Oswal Investment Advisors are the book running lead managers for the issue, while Kfin Technologies is the registrar. Karamtara Engineering Karamtara Engineering, a manufacturer of products for transmission lines and renewable energy infrastructure, has received approval for a Rs 1,750 crore IPO, which includes a Rs 1,350 crore fresh issue and a Rs 400 crore offer for sale. The company is a one-stop supplier for solar structures, fasteners, and transmission hardware, and is entering the wind energy space with a new facility to produce tubular towers. Its global footprint spans over 50 countries. The issue is being managed by JM Financial, ICICI Securities, and IIFL Capital Services . MUFG Intime India (Link Intime) is the registrar. Vidya Wires Copper and aluminum wire manufacturer Vidya Wires plans to raise Rs 320 crore via fresh issue, along with an offer for sale of 1 crore shares. Founded in 1981, the company supplies over 6,400 types of winding and conductivity products to sectors such as power generation, railways, and electric mobility. It intends to expand its manufacturing capacity from 19,680 MT to 37,680 MT annually with a new facility in Narsanda, Gujarat. The IPO is being handled by Pantomath Capital Advisors and IDBI Capital Market Services, with MUFG Intime India (Link Intime) as the registrar. Mangal Electrical Mangal Electrical Industries, a Rajasthan-based transformer and electrical equipment manufacturer, received clearance for a Rs 450 crore IPO, which will be entirely a fresh issue. The company produces CRGO slit coils, transformer laminations, wound cores, and oil-immersed circuit breakers, and also provides EPC services for setting up electrical substations. Systematix Corporate Services is the book-running lead manager, while Bigshare Services is the registrar. These approvals come as India's primary markets continue to see strong interest from both companies looking to raise growth capital and investors keen on gaining exposure to industrial and clean energy themes. Also read | Oswal Pumps sets price band for Rs 1,387 crore IPO ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
2 days ago
- Business
- Economic Times
Kent RO Systems among four firms to win Sebi nod for IPOs
Tired of too many ads? Remove Ads Kent RO Systems Tired of too many ads? Remove Ads Karamtara Engineering Vidya Wires Tired of too many ads? Remove Ads Mangal Electrical India's capital markets regulator Sebi (Securities and Exchange Board of India) has given the green light to initial public offerings of four companies, including water purification giant Kent RO Systems, in a move that underlines the growing momentum in the country's IPO pipeline across manufacturing and energy four companies that received IPO approvals are Kent RO Systems, Vidya Wires, Karamtara Engineering, and Mangal Electrical Industries. Their proposed offerings, spanning a mix of fresh issues and offers for sale, reflect a wide industry spread from water purifiers and kitchen appliances to transformers, specialty wires, and renewable energy RO Systems, a pioneer in India's water purifier industry, has received Sebi approval for a book-built IPO comprising an offer for sale of 1.01 crore equity shares by promoters Sunita Gupta, Mahesh Gupta, and Varun Gupta. The company will not receive any proceeds from the offer.'The object of the offer is to achieve the benefits of listing the equity shares on the stock exchanges,' the company said in its draft red herring in 2007, Kent is credited with bringing reverse osmosis (RO) technology into Indian homes. Its NSF/ANSI 58-certified purifiers were the first in India to meet this U.S.-based national standard for point-of-use RO brand has since expanded into IoT-enabled and zero-water-wastage models, while also foraying into BLDC motor fans, high-speed mixers, and infrared cooktops. Kent operates four manufacturing units and has a wide service network spanning 15,000+ pin codes. JM Financial and Motilal Oswal Investment Advisors are the book running lead managers for the issue, while Kfin Technologies is the Engineering, a manufacturer of products for transmission lines and renewable energy infrastructure, has received approval for a Rs 1,750 crore IPO, which includes a Rs 1,350 crore fresh issue and a Rs 400 crore offer for company is a one-stop supplier for solar structures, fasteners, and transmission hardware, and is entering the wind energy space with a new facility to produce tubular towers. Its global footprint spans over 50 issue is being managed by JM Financial, ICICI Securities, and IIFL Capital Services . MUFG Intime India (Link Intime) is the and aluminum wire manufacturer Vidya Wires plans to raise Rs 320 crore via fresh issue, along with an offer for sale of 1 crore in 1981, the company supplies over 6,400 types of winding and conductivity products to sectors such as power generation, railways, and electric mobility. It intends to expand its manufacturing capacity from 19,680 MT to 37,680 MT annually with a new facility in Narsanda, IPO is being handled by Pantomath Capital Advisors and IDBI Capital Market Services, with MUFG Intime India (Link Intime) as the Electrical Industries, a Rajasthan-based transformer and electrical equipment manufacturer, received clearance for a Rs 450 crore IPO, which will be entirely a fresh company produces CRGO slit coils, transformer laminations, wound cores, and oil-immersed circuit breakers, and also provides EPC services for setting up electrical substations. Systematix Corporate Services is the book-running lead manager, while Bigshare Services is the approvals come as India's primary markets continue to see strong interest from both companies looking to raise growth capital and investors keen on gaining exposure to industrial and clean energy themes.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
