Novateor Research Laboratories Ltd is set to debut in the stock market with an issue size ₹4.49 Cr. Novateor Research Labs Ltd is a firm based in India that creates innovative personal care products. They are well known for their teeth whitening solutions, which go by the trademark SmiloShine. Their factory is in Sanand Taluka, Ahmedabad District, and they offer their items online on Amazon, Flipcart, and Nykaa. They use a semi-automated approach to cut down on physical labor and material waste. Their client base comprises well-trained Dentists, and they make three distinct types of teeth whitening strips based on different versions.
Novateor Research Laboratories Ltd IPO Details
| IPO Date | Aug 30, 2019 to Sep 4, 2019 |
| Listing Date | Sep 13, 2019 |
| Face Value | ₹10 per share |
| Price | ₹24 per share |
| Lot Size | 6000 Shares |
| Total Issue Size | 1,872,000 shares(aggregating up to ₹4.49 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
Novateor Research Laboratories Ltd IPO Tentative Timetable
Smiloshine IPO opens on Aug 30, 2019, and closes on Sep 4, 2019.
| Event | Tentative Date |
| Opening Date | Aug 30, 2019 |
| Closing Date | Sep 4, 2019 |
| Basis of Allotment | Sep 9, 2019 |
| Initiation of Refunds | Sep 11, 2019 |
| Credit of Shares to Demat | Sep 12, 2019 |
| Listing Date | Sep 13, 2019 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
Company Overview
Novateor Research Laboratories Limited (NRLL) was originally incorporated in 2011 under the Companies Act, 1956, and was converted into a public company in 2019. The company specializes in developing novel personal care products, including teeth whitening strips sold under the brand name “SmiloShine”. The manufacturing facility in Ahmedabad District is well equipped with state-of-the-art technology and semi-automated processes that reduce reliance on manual labor and raw materials wastage. NRLL’s products are FDCA-approved and have been found to be innovative, user-friendly, safe, pocket-friendly, and effective by dentists and other end-users. The company plans to expand its business in cosmetics, various healthcare pharma products, and specialty pharma in the near future.
Industry Overview
In terms of income and employment, India’s healthcare sector is among the greatest. It is expanding rapidly as a result of improved coverage, services, and more spending by both public and private actors. India has a big pool of well-trained medical experts and is less expensive than its Asian and Western counterparts. The healthcare sector has the potential to triple to Rs 8.6 trillion (US$ 133.44 billion) by 2022, with medical tourism growing at a rate of 22-25% with the industry predicted to reach US$ 9 billion by 2020.
Company Financials
| Particulars | For the year/period ended (in Rs. Lakhs) | ||
| 31-March-19 | 31-March-18 | 31-March-17 | |
| Total Assets | 431.61 | 183.77 | 189.81 |
| Total Revenue | 51.41 | 11.33 | 16.18 |
| Profit After Tax | 21.85 | 0.09 | (0.30) |
Objects of the Issue
The Company intends to apply the Net Funds from the Offering to the following purposes:
- Additional Working Capital,
- To meet the expenses of the Issue.
Strengths
- Produce and sell niche products
- Research and development efforts are strong (R&D)
- knowledgeable promoters and management
Weaknesses
- Financial weaknesses
- Operational weaknesses
Novateor Research Laboratories Ltd Lead Manager(s)
- First Overseas Capital Limited
Lead Manager Reports
- IPO Lead Manager Performance Summary
- IPO Lead Manager Performance Tracker
Company Contact Information
Novateor Research Laboratories Ltd, B-1001,10th Floor, Block B, Titanium City Center,
Nr Sachin Tower, Anandnagar Rd,100 Ft Rd,
Satellite, Ahmedabad 380015, Gujarat, India
Phone: +91 79 4039 5888/ 63533 4
Email: compliancenovateor@gmail.com
Website: http://www.novateor.com/
Company Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://karisma.kfintech.com/
