Sheetal Cool Products Ltd

sheetal cool products

About the Company:

Sheetal Cool Products ltd is currently involved in producing and processing of milk and milk products, snacks and bakery items.

Company sells their products under the brand name “Sheetal” to a number of distributors and super stockists.

Currently, Company has a manufacturing unit spread over an area measuring around 5314.66 square meters(approximately) at Amreli, Gujarat.

Apart from Gujarat ,they also have presence in states like Rajasthan and Maharashtra.

Company’s wide range of products include:

  • Milk and Milk products : Company’s milk and milk portfolio of products comprises of ice cream, pasteurized milk,flavoured milk, yoghurt, lassi, chaas, sweets and many more.
  • Snacks : Snacks portfolio of products comprises of potato chips, banana chips, extruded snacks (fryums), other namkeen including bhujia, salted peanuts, salted pulses and many more.
  • Bakery : Bakery portfolio of products comprises of variety of breads, pav, khari, cake and many more.


Management Team:

  1. Mr.Bhupatbhai D. Bhuva (Designation: Managing Director)
  2. Mr.Sanjay D. Bhuva (Designation: Whole-time Director)
  3. Mr.Dinesh Kumar D. Bhuva (Designation: Whole-time Director)


Promoters Average Acquisition Cost:

Name of the Promoter No. of Shares held Average Acquisition Cost (in Rs.)
Bhupatbhai D Bhuva 217,200 9.54
Dineshkumar D Bhuva 848,550 7.68
Sanjay D Bhuva 18,15,450 7.39
Naynaben B Bhuva 6,68,250 9.85
Kajalben D Bhuva 7,40,850 9.70
Asmitaben S Bhuva 5,35,950 9.55


Promoters Stake Pre & Post Issue:

Shareholder Name Pre Issue Stake (%) Post Issue Stake
Bhupatbhai D Bhuva 2.90 2.07
Dineshkumar D Bhuva 11.31 8.08
Sanjay D Bhuva 24.21 17.29
Naynaben B Bhuva 8.91 6.36
Kajalben D Bhuva 9.88 7.06
Asmitaben S Bhuva 7.15 5.10
Promoter Group             6.75           4.82
Total 71.10% 50.78%


Company Contact Info:
Sheetal Cool Products Ltd
G I D C, Plot No. 78-79-80, Amreli-365601, Gujarat, India
Tel: + 91-279-2240501


IPO Registrar Info:
Karvy Selenium Tower B, Plot 31-32, Gachibowli
Financial District, Nanakramguda, Hyderabad – 500 032,
Tel. No.: +91-40-67162222; Fax No.: +91-40-23431551
E-mail:; Investor grievance email:
Website:; Contact Person: Mr. M Murli Krishna


Lead Manager to the Issue:
18 Deshapriya Park Road, Kolkata – 700 026, West Bengal, India
Tel: +91-33-3001 5555; Fax: +91-33-3001 5531
Investor Grievance Email:; Contact Person: Alka Mishra / Mohit Baid


Check IPO Allotment Status:

Karvy Website


Objectives of the Issue:

  • To purchase additional plant & machineries at the existing manufacturing facility at Amreli, Gujarat.
  • Funding of working capital requirements of the Company
  • General Corporate Expenses
  • Issue Expenses


Fund Utilization:

Particulars Amount (Rs. in Crores)
To purchase additional plant & machineries at the existing manufacturing facility at Amreli, Gujarat 14.6
Working capital requirements of the Company 4.0
General Corporate Expenses 5.0
Issue Expenses 0.4
Net Proceeds 24.00


Financials of the Company:

(in Crores) FY 13 FY 14 FY 15 FY 16 FY 17
Revenue 6.44 44.9 125.28 154.62 49.35
Net Profit (-0.96) 0.12 1.96 2.05 0.85


Valuation of Peer Group Companies:

Company Name Face Value EPS PE Ratio RoNW NAV
Sheetal Cool Products Limited 10 4.12 19.43 25.15 16.37
Prabhat Diary Limited 10 2.82 47.80 4.90 57.06
Hatsun Agro Product Limited 1 8.80 77.08 38.59 22.81


IPO Details:

Details Info
Issue Opens on 16th October 2017
Issue Closes on:. 18th October 2017
Issue Price Rs.80
Face Value Rs.10
Minimum Lot 1600
Minimum Investment Rs.1,28,000
Issue Constitutes 28.57%
Issue Size Rs.24 cr
Market Cap Rs.84 cr
Listing at BSE SME
Equity Shares Offered (Fresh issue) 30,00,000
Equity Shares Prior 75,00,000
Equity Shares after the issue 1,05,00,000


IPO Valuation Parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
4.12 19.42 25.15% 16.37


Markets Guruji Opinion:

IPO View Apply For: Expected listing Gain:
Subscribe Listing Gain 20%