About the Company:
Gretex Corporate Services Ltd offers diversified financial and consultancy services in the areas of Capital Markets, Corporate Finance, Corporate Restructuring, Debt Syndication, Compliance Advisory.
Since past six years company has been carrying out the business of management of fund-raising activities, investment advisory, underwriting of issues, manager, consultant or adviser to any issue including corporate advisory services and as consultant or adviser to the issuer.
Company primarily caters to the needs of Small and Medium Enterprises, but company’s services are not limited to SMEs, over the period of years company has been able to successfully create its name in Primary markets for successfully executing 21 SME IPOs and 1 BSE Startups Segment under SME Platform of BSE Limited.
Company’s Promoters:
Company is promoted by Mr. Arvind Harlalka, Mr. Alok Harlalka and M/s Bonanza Agency LLP (Previously known as Bonanza Agency Private Limited) who are the guiding force behind all the strategic decisions of the Company.
Mr. Alok Harlalka (Managing Director) is also a director in the Association of Investment Bankers of India (AIBI). This provides the company an advantage in terms it connects to big players in the field of financial Services.
Company’s History:
Company had started operations in the year 2008, in the initial years the company was engaged in the business of providing project finance services to companies through banks and financial institutions.
In the year 2011 the company started providing services of capital market such as Direct listing of companies on nationwide stock exchanges. This new venture gave management an interest to explore more opportunities in capital market.
So, in the year 2013 company applied for the license of merchant banking with Securities and Exchange Board of India (SEBI). SEBI has provided the company with Initial Certificate of Registration which was valid for a period of 5 years.
In the year 2019 company’s initial certificate of registration was renewed and a permanent registration was provided by SEBI.
Company caters to SME IPOs:
Over the time company has developed an expertise in the area of identifying Small and Medium Enterprises, determine its funding requirement and carter company’s funds needs by taking the company public by the mean of an IPO on the SME Exchange in India.
Company primarily caters to the needs of Small and Medium Enterprises, but company’s services are not limited to SMEs, over the period of years company has been able to successfully create its name in Primary markets for successfully executing 21 SME IPOs and 1 BSE Startups Segment under SME Platform of BSE Limited.
Services offered by the Company:
Management Team:
- Mr. Alok Harlalka (Designation: Managing Director)
- Mrs. Pooja Harlalka (Designation: Executive Director)
Objectives of the Issue:
Offer for sale: (Rs.1.08 cr )
- Company will not receive any proceeds from the Offer for Sale.
Fresh Issue: (Rs.4.03 cr)
- Payment of Security Deposit for renting of office space.
- Working Capital Requirements.
- General Corporate Purposes.
Positives for the Company:
Diversified Portfolio of Services offered.
- Company provides various diversified financial and consultancy services in the areas of Capital Markets, Corporate Finance, Corporate Restructuring, Debt Syndication, Compliance Advisory.
- For past six years company have been carrying out the business of management of fund-raising activities, investment advisory, underwriting of issues, manager, consultant or adviser to any issue including corporate advisory services etc.
Long-term relationships.
- Company’s client list includes SME companies from various sector such as Business Process Management Services, Pharma, Garment Manufacturing, Plastic sheets and granules Manufacturing, Industrial Machinery, Hotels, Containers & Packaging, IT Consulting & Software, Railway Infrastructure, Protective gear Manufacturing.
Expanding the Clientele Network by Geographic expansion.
- Presently, company has offices in Mumbai and Kolkata and need to expand either directly or through associations. Going forward company intends to establish its presence at various locations in the country and also globally.
Financials of the Company:
| (in Crores) | FY 19 | FY 20 | FY 21 |
|---|---|---|---|
| Revenue | 3.15 | 1.45 | 3.24 |
| Net Profit | 0.25 | (-1.15) | 0.71 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Gretex Corporate Services Ltd | 10 | 7.44 | 22.85 | 9.80% | 69.78 |
| Navigant Corporate Advisors Ltd | 10 | 1.49 | 8.75 | 6.71% | 22.14 |
| Galactico Corporate Services Ltd | 10 | 0.83 | 52.39 | 3.59% | 23.14 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 27th July 2021 |
| Issue Closes on:. | 30th July 2021 |
| Issue Price | Rs.170 |
| Face Value | Rs.10 |
| Minimum Lot | 800 |
| Minimum Investment | Rs.1,36,000 |
| Issue Constitutes | 26.51% |
| Issue Size | Rs.5.12 cr |
| Market Cap | Rs.19.33 cr |
| Listing at | BSE SME |
| Equity Shares Offered (Fresh) | 2,37,600 |
| Equity Shares Offered (OFS) | 64,000 |
| Total Equity Shares Offered (Fresh + OFS) | 3,01,600 |
| Equity Shares Prior to the Issue | 8,99,745 |
| Equity Shares after the Issue | 11,37,345 |
Also Read : List of Upcoming IPO’s in India.
Important Dates:
| Finalization of Basis of Allotment | on or Before 4th August 2021 |
| Initiation of Refunds | on or Before 5th August 2021 |
| Credit of Equity Shares: | on or Before 6th August 2021 |
| Listing Date: | on or Before 9th August 2021 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 7.44 | 22.85 | 9.80% | 69.78 |
| Check IPO Allotment Status: |
|---|
Bigshare: http://www.bigshareonline.com/IPO/AllotmentBSE IPO Website: https://www.bseindia.com/IPO/Allotment |
| Company Contact Info: |
|---|
| Gretex Corporate Services Ltd Office No. 13, 1st Floor, Bansilal Mansion, 9-15 Homi Modi Street, Fort, Mumbai – 400 001, Maharashtra, India Tel: +91 – 22 – 4002 5273 Email:info@gretexgroup.com Website: www.gretexcorporate.com |
| IPO Registrar Info: |
|---|
| BIGSHARE SERVICES PRIVATE LIMITED 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai – 400 059, Maharashtra, India Tel No.: +91 – 22 – 6263 8200; Email: ipo@bigshareonline.com Website: www.bigshareonline.com |
| Lead Manager to the Issue: |
|---|
| ARYAMAN FINANCIAL SERVICES LIMITED 60, Khatau Building, Ground Floor, Alkesh Dinesh Modi Marg Fort, Mumbai – 400 001, Maharashtra, India Tel No.: +91 – 22 – 6216 6999 Email: ipo@afsl.co.in Investors Grievances Email: feedback@afsl.co.in Website: www.afsl.co.in |
