About the Company:
Shigan Quantum Technologies Ltd is engaged in the business of designing, developing and manufacturing of varieties of Alternate Fuel Systems including CNG, LNG and Hydrogen Fuel Kit systems for OEMS and others.
Company manufacture Alternate Fuel Systems for heavy duty vehicles, light duty vehicles and off- highway applications.
Company was incorporated in the year 2008 with an object to manufacture alternate fuel systems in India. Subsequently, and have gained expertise in various products in the alternate fuel systems, especially in CNG and LNG fuel kits within automotive industry through in-house expertise and technical assistance.
Since April 2020, Company has also ventured into manufacturing of Fire Detection & Alarm System and Fire Detection & Suppression System (FDAS &FDSS). The turnover from this newly ventured business activity as on August 31, 2021 is Rs. 85.21 lakhs and March 31, 2021 is Rs. 139.61 lakhs.
The installed capacity of manufacturing of FDAS & FDSS is 36,000 nos. per annum, however our Company has manufactured 671 nos. of FDAS & FDSS as on March 31, 2021.
Products manufactured by the Company:
- CNG Filters.
- Engine Control Unit (ECU).
- Fuel Rail.
- High Pressure Regulator.
- Fire Detection and Suppression System.
- CNG Tube and Fitting.
- Filler Valve.
- FMFD Module
Sourcing critical technologies from MNC companies:
Company sources critical technologies from MNC companies with whom company has long term technology user agreement or manufacturing license.
Company has entered into technology agreements with companies for developing exclusive products customised to our requirements and have got exclusive manufacturing rights in India for these products after their development.
With change in technologies, company has plans to acquire the Foreign Suppliers’ expertise through Joint Venture or by outright purchase of their technologies and localise production of Gaseous Fuel Injection Technology systems.
Such Gaseous Fuel Injection Technology systems will enable the Company to manufacture products that will meet the upcoming Emission norms thereby enhancing the performance of the vehicle.
Alternate fuel systems/kits:
Company is engaged in designing, optimizing, manufacturing, assembling, testing and kit integration of alternate fuel systems/kits for heavy/light duty commercial vehicles and buses, power generation equipment and industrial equipment viz. forklifts etc.
Company aims to localize the components of Euro-VI CNG kits in India, which will help to reduce the cost of the total system.
Imports of raw materials:
Company imports its raw materials from countries like Singapore, USA, Chicago, Mexico, Switzerland, China, Hong Kong, UAE, Italy, France, etc.
Company also procure raw materials from domestic suppliers located in Pune, Gurugram, Ghaziabad, Bangalore and other domestic market in India.
Company also export certain components of CNG Fuel Systems to countries like New Jersey, Australia, Italy, Sweden, Canada.
Company’s Capacity and Capacity Utilization:
Note: The installed capacity of company’s newly ventured business of manufacturing of Fire Detection & Alarm System and Fire Detection & Suppression System is 36,000 nos. per annum, however Company has manufactured 671 nos. of Fire Detection & Alarm System and Fire Detection & Suppression System as on March 31, 2021
Management Team:
- Mr. Shishir Agrawal (Designation: Managing Director)
- Mr. Gagan Agrawal (Designation: Joint Managing Director)
Objectives of the Issue:
Fresh issue: (Rs.22.69 cr)
- To meet Working Capital requirements.
- To finance the purchase of Machinery.
- General Corporate Purpose.
- To meet offer related expenses.
Peer Group Comparison:
We believe that there are no listed Companies in India which are engaged in business similar to Shigan Quantum Technologies Ltd. Hence a strict comparison is not possible.
Financials of the Company:
| (in Crores) | FY 19 | FY 20 | FY 21 | 31st August 2021 |
|---|---|---|---|---|
| Revenue | 69.08 | 72.78 | 96.02 | 64.39 |
| Net Profit | 2.66 | 2.92 | 3.51 | 2.89 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 28th February 2022 |
| Issue Closes on:. | 3rd March 2022 |
| Issue Price | Rs.50 |
| Face Value | Rs.10 |
| Minimum Lot | 3000 shares |
| Minimum Investment | Rs.1,50,000 |
| Issue Constitutes | 26.37% |
| Issue Size | Rs.22.69 cr |
| Market Cap | Rs.86.07 cr |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 45,39,000 |
| Equity Shares Prior to the Issue | 1,26,75,900 |
| Equity Shares after the issue | 1,72,14,900 |
Also Read : List of Upcoming IPO’s in India.
Also Read : List of Upcoming SME IPO’s in India.
Important Dates:
| Finalization of Basis of Allotment | on or Before 8th March 2022 |
| Initiation of Refunds | on or Before 9th March 2022 |
| Credit of Equity Shares: | on or Before 10th March 2022 |
| Listing Date: | on or Before 11th March 2022 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 2.77 | 18.04 | 20.84% | 66.49 |
| Company Contact Info: |
|---|
| Shigan Quantum Technologies Limited Shyam Kunj, 183-A, Sainik Farms, Western Avenue, New Delhi, -110062, India Tel: +91 9818159357 Email: cs@shigan.net Website: www.shigan-quantum.com |
| IPO Registrar Info: |
|---|
| KFIN TECHNOLOGIES PRIVATE LIMITED Selenium Tower-B, Plot 31 & 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad – 500 032, Telangana Telephone: +91- 40 6716 2222, Email: shigan.ipo@kfintech.com Website: www.kfintech.com |
