S P Apparels Ltd IPO (S P Apparels IPO) Detail

Incorporated in 1989, S P Apparels is engaged in manufactures and sells knitted garments for infants and children in India. Company's product range includes body suits, sleep suits, tops, and bottoms. Information in this paragraph is taken from chittorgarh.com, India's No. 1 IPO Investment Portal.
They also manufacture a broad range of menswear garments consisting of shirts, polo shirts, tshirts, trousers, jeans, sweaters, jackets and men's innerwear consisting of vests, briefs, boxer shorts and socks under the brand 'Crocodile' which is subsidiaries through an agreement with Crocodile International Pte Limited, Singapore. They mainly export their products to United Kingdom. During FY16, the company exported approximately 35.98 million pieces of knitted garments for infants and children directly to its international customers, including TESCO and Primark.
SP Apparels operates 21 manufacturing facilities in and around the region of Avinashi in Tamil Nadu. Company has 4,874 sewing machines, eight cutting machines, 79 embroidery machines, 17 printing machines, 16,896 spindles and 22 dyeing machines.

Company Promoters:

The promoters of the company are:
1. Mr. P. Sundararajan
2. Mrs. S. Latha

Company Financials:

Summary of financial Information

Particulars	For the year/period ended (in Rs. Million)
	31-Mar-16	31-Mar-15	31-Mar-14	31-Mar-13	31-Mar-12
Total Assets	5,780.43	5,304.11	5,370.35	5,402.47	5,505.56
Total Revenue	5,417.43	4,824.71	4,533.30	4,300.49	4,025.16
Profit After Tax (PAT)	373.58	109.17	71.51	31.41	118.32

Objects of the Issue:

The public issue comprises a fresh Issue and an offer for sale by the selling shareholders. Information in this section is taken from chittorgarh.com, India's No 1 IPO Investment Portal.
1. The Offer for Sale
S P Apparels will not receive any proceeds from the Offer for Sale.
2. The Fresh Issue
The proceeds from the fresh issue will be utilised towards the following objects:
A. Repayment or prepayment of debt incurred by the Company;
B. Expansion and modernization of their manufacturing facility at Valapady, Salem, Tamil Nadu;
C. Addition of balancing machineries for their existing dyeing unit at SIPCOT, Perundurai;
D. Opening of new stores for the sale of 'Crocodile' products; and
E. General corporate purposes.

Issue Detail:

  »»  Issue Open: Aug 2, 2016 - Aug 4, 2016
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size: 25,167,600 Equity Shares of Rs 10 aggregating up to Rs 674.49 Cr
    ›  Fresh Issue of [.] Equity Shares of Rs 10 aggregating up to Rs 215.00 Cr
    ›  Offer for Sale of 900,000 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs. 258 - Rs. 268 Per Equity Share
  »»  Market Lot: 55 Shares
  »»  Minimum Order Quantity: 55 Shares
  »»  Listing At: BSE, NSE

S P Apparels IPO Reviews:

1. S P Apparels Ltd IPO review by Dilip Davda

Issue Subscription Detail / Current Bidding Status

	Number of Times Issue is Subscribed (BSE + NSE)
As on Date & Time	QIB	NII	RII	Total
Shares Offered / Reserved	1,939,905	1,385,010	3,231,690	6,556,605
Day 1 - Aug 2, 2016 17:00 IST	0.0000	0.0700	0.2200	0.1200
Day 2 - Aug 3, 2016 17:00 IST	1.0000	0.4500	0.5400	0.6600
Day 3 - Aug 4, 2016 18:30 IST	2.2100	5.1000	1.9000	2.6600

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