Pattech Fitwell Tube Components Limited was established in 2022, but its journey began a decade ago in 2012. The company specializes in the manufacturing of forging products for the non-automotive sector. Their products include forged flanges, complex and specialized machined components, and welded assemblies in the area of open die forgings.
The company has a total installed capacity of 14104.13 MTPA, which they use to convert semi-finished and raw products into finished products through various value-added processes. These processes include forming, bending, drilling, cutting, inspection, polishing, painting, blasting, welding, punching, marking, testing, and packaging. Company operates in a competitive industry and must continue to produce high-quality products to stay ahead of their competitors.
Pattech Fitwell Tube Components IPO Details
| IPO Date | Apr 5, 2023 to Apr 12, 2023 |
| Listing Date | Apr 21, 2023 |
| Face Value | ₹10 per share |
| Price | ₹50 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 2,400,000 shares (aggregating up to ₹12.00 Cr) |
| Fresh Issue | 2,400,000 shares (aggregating up to ₹12.00 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
Pattech Fitwell Tube Components IPO Tentative Timetable
IPO opens on Apr 5, 2023, and closes on Apr 12, 2023.
| Event | Tentative Date |
| Opening Date | Apr 5, 2023 |
| Closing Date | Apr 12, 2023 |
| Basis of Allotment | Apr 18, 2023 |
| Initiation of Refunds | Apr 19, 2023 |
| Credit of Shares to Demat | Apr 20, 2023 |
| Listing Date | Apr 21, 2023 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
Industry Overview
The company operates in the forging industry, specifically in the manufacturing of forging products for the non-automotive sector. The forging industry plays a critical role in providing raw materials for various industries such as construction, oil and gas, aerospace, and defense. Forged components are preferred over other alternatives due to their superior strength, durability, and resistance to corrosion.
The global forging industry has been growing steadily over the years, with a compound annual growth rate (CAGR) of approximately 5.7% from 2016 to 2020. The growth can be attributed to the increasing demand for forged products in emerging economies, as well as the growth of construction and infrastructure projects globally. The industry is expected to continue growing at a CAGR of 6.2% from 2021 to 2026, driven by factors such as increasing urbanization, industrialization, and infrastructure development.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
| 31-Mar-20 | 1,155.69 | 2,038.99 | 7.74 | 190.05 | 0.00 | 867.72 |
| 31-Mar-21 | 1,386.66 | 1,844.93 | -1.16 | 321.11 | 0.00 | 976.32 |
| 31-Mar-22 | 2,530.38 | 2,262.87 | 144.45 | 563.06 | 0.00 | 1,663.56 |
| 21-Aug-22 | 2,572.07 | 968.72 | 34.76 | 569.71 | 0.00 | 1,456.31 |
| 30-Nov-22 | 2,661.01 | 1,137.66 | 19.69 | 529.11 | 19.69 | 1,745.92 |
| Amount in ₹ Lakhs | ||||||
Objects of the Issue
The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:
- Funding our working capital requirements;
- General corporate purposes
Pattech Fitwell Tube Components IPO Prospectus
Company Contact Information
Pattech Fitwell Tube Components Limited
Survey No.873/B/1, RD No: 1, Ansons Limbani Estate
Nr. GETCO 66K.V. Sub Station, G.I.D.C, Por, N.H-08
Vadodara – 391243
Phone: (0265) 2830151
Email: cs@pftcpipefittings.com
Website: https://www.pftcpipefittings.com/
Pattech Fitwell Tube Components IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/
Pattech Fitwell Tube Components IPO Lead Manager(s)
- Fedex Securities Limited (Past IPO Performance)
