Novateor Research Laboratories Ltd

About the Company:

Novateor Research Laboratories is into development of novel personal care products that are intended to provide safe, easy and innovative approach to the existing traditional personal care solutions.

Company’s manufacturing facility located at Sanand Taluka, Ahmedabad District is well equipped with the state of the art building structure, machineries and technology.

Company’s products like Teeth Whitening products are sold under brand name ―SmiloShine. Company manufactures three different variants of Teeth Whitening Strips.

Company’s products are first of a kind in India in teeth whitening industry with FDCA approval.

Company intends to expand its business in cosmetics, various health care pharma products and specialty pharma in the near future.

Company sells its branded products via distributors located in Gujarat and a super stockiest located in Mumbai. Beside this, they also market and sell the products through e-commerce platforms- Amazon, Flipkart and


Management Team:

  1. Mr. Navdeep Subhashbhai Mehta (Designation: Managing Director)
  2. Mrs. Tejal Navdeep Mehta (Designation: Whole Time Director)


Objectives of the Issue:

  • Additional Working Capital.
  • To meet the expenses of the Issue.


Financials of the Company: (in Lakhs)

(in Lakhs) FY 17 FY 18 FY 19
Revenue 16.18 11.33 51.41
Net Profit (-0.30) 0.09 21.85


IPO Details:

Details Info
Issue Opens on 30th August 2019
Issue Closes on:. 4th September 2019
Issue Price Rs.24
Face Value Rs.10
Minimum Lot 6000 Shares
Minimum Investment Rs.1,44,000
Issue Constitutes 38.72%
Issue Size Rs.4.49 cr
Market Cap Rs.11.6 cr
Listing at BSE SME
Equity Shares Offered (fresh) 18,72,000
Equity Shares Prior to the Issue 29,62,170
Equity Shares after the Issue 48,34,170


Important Dates:

Finalization of Basis of Allotment on or Before 9th September 2019
Initiation of Refunds on or Before 11th September 2019
Credit of Equity Shares: on or Before 12th September 2019
Listing Date: on or Before 13th September 2019


Check IPO Allotment Status:

Karvy Website (Click on the below Link)


Company Contact Info:
Novateor Research Laboratories Ltd
B-1001,10th Floor, Block B,
Titanium City Center, Nr Sachin Tower, Anandnagar
Rd,100 Ft Rd, Satellite, Ahmedabad 380015
Tel No. : +91 79 4039 5888/ 63533 41117
Email Id :
Website :


IPO Registrar Info:
Karvy Fintech Private Limited
Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial
District, Nanakramguda, Hyderabad 500 032
Tel. No.: 1-800-3454001/ +91 40 6716 2222
Investor Email:


Lead Manager to the Issue:
1-2 Bhupen Chambers, Ground Floor, Dalal Street,
Mumbai-400 001
Tel. No.: +91 22 40509999
Investor Email: