About the Company:
Uravi T and Wedge Lamps Ltd is a lamps and lighting products manufacturing and distribution company with core focus on automotive lamps and instrument cluster lighting.
Company specializes in manufacturing and distributing Stop and Tail Lamps /Signal Lamps /Indicator Lamps and Wedge Lamps for Two-wheelers, Four-wheelers, Tractors and Industrial applications for various Indian automobile manufacturers.
They manufacture the Wedge based Lamps and Stop and Tail Lamps at both their Manufacturing Units i.e. at Bhiwandi (Maharashtra) and at Kathua (Jammu and Kashmir).
Company is an ISO/TS certified and hold certifications from the Automotive Research Association of India and E-mark for the products manufactured.
Company’s present product portfolio consists of Wedge based Lamps and Stop & Tail Lamps, which are used for speedometers and Indicators for automobiles (Two-wheelers, Four-wheelers and Tractors) and other Industrial applications in the Indian automotive industry.
Company’s products are manufactured under the brand name “UVAL” which is a registered trademark. The Products are sold to various Original Equipment Manufacturer (OEM) companies who in turn use the products in their deliveries to Automobile Majors.
They also sell their products as a part of after-market sales, i.e. as replacement for existing lamps and they are available at various auto-component shops.
Company has also recently started trading in LED lamps under their own brand name “UVAL”. The LED Lamps are outsourced for manufacturing to Global Lighting Phils. Inc. who supply the products based on a monthly demand schedule sent by the Company.
Manufacturing Facilities of the Company:
Products Manufactured by the Company:
- Wedge Lamps (Used for Speedometer)
- Stop and Tail Lamps, (Used for Indicator)
- LED Lamps. (Used for Home Appliance & Automotive Lamps)
- Mr. Niraj D. Gada (Designation: Chairman, Managing Director & Chief Financial Officer)
- Mr. Kaushik D. Gada (Designation: Whole Time Director and Chief Executive Officer)
- Mr. Brijesh Aggarwal (Designation: Non-Executive Non-Independent Director)
Promoters Average Acquisition Cost:
|Name of the Promoter||No. of Shares held||Average Acquisition Cost (in Rs.)|
|Mr. Niraj Gada||14,27,690||10.00|
|Mr. Kaushik Gada||42,240||10.00|
|Mr. Brijesh Aggarwal||4,24,990||10.00|
Promoters Stake Pre & Post Issue:
|Shareholder Name||Pre Issue Stake (%)||Post Issue Stake|
|Mr. Niraj Gada||28.55%||16.85%|
|Mr. Kaushik Gada||0.84%||0.77%|
|Mr. Brijesh Aggarwal||8.50%||7.72%|
|Promoters Group Entities||62.10 %||47.33%|
Objectives of the Issue:
Offer For Sale (OFS): (Around Rs.10 cr)
- Company will not receive any proceeds of the Offer for Sale by the Selling Shareholders.
Fresh Issue: (Around Rs.5 cr)
- Funding Long Term Working Capital Requirements
- Funding expenditure for General Corporate Purposes.
|Particulars||Amount (Rs. in Crores)|
|Working Capital requirements||3.8|
|General Corporate Expenses||0.93|
|Net Proceeds||Rs.5 crores|
Positives for the Company:
Introduction of LED lighting Products:
Keeping in line with the current technological advancements in the field of automobile and home lighting, they have recently entered into a co-operation agreement with a Philippines based company named Global Lighting Phils. Inc for developing LED lighting products vertical of the company.
The LED lamps are manufactured by Global Lighting Phils. Inc. under the brand name “UVAL” and are imported, distributed and sold in India.
Company intends to increase the LED vertical sales over time and thereafter also explore possibilities of in-house LED product manufacturing depending on the technological changes and requirements of the automotive segment clients.
Financials of the Company:
|(in Crores)||FY 13||FY 14||FY 15||FY 16||FY 17||30th Sept 17|
Valuation of Peer Group Companies:
|Company Name||Face Value||EPS||PE Ratio||RoNW||NAV|
|Uravi T and Wedge Lamps Ltd||10||2.10||47.62||12.67%||21.55|
|Autolite (India) Ltd||10||0.44||121.02||1.21%||35.01|
|Fiem Industries Ltd||10||26.12||36.90||7.77%||321.69|
|Jagan Lamps Ltd||10||0.79||15.19||3.33%||23.66|
|Issue Opens on||16th March 2018|
|Issue Closes on:.||20th March 2018|
|Issue Size||Rs.15 cr|
|Market Cap||Rs.55 cr|
|Listing at||NSE SME|
|Equity Shares Offered (OFS)||10,00,000|
|Equity Shares Offered (Fresh)||5,00,000|
|Total Equity Shares Offered (OFS + Fresh)||15,00,000|
|Equity Shares Prior to the Issue||50,00,000|
|Equity Shares after the Issue||55,00,000|
|Finalization of Basis of Allotment||on or Before 23rd March 2018|
|Initiation of Refunds||on or Before 26th March 2018|
|Credit of Equity Shares:||on or Before 27th March 2018|
|Listing Date:||on or Before 28th March 2018|
|(Subscription-Category-Wise (no. of times) Till time : 06:00 PM)||Shares Offered||Day-1||Day-2||Day-3|
IPO Valuation Parameters:
|Earnings Per Share (EPS)||Price To Earnings ratio (PE)||Return on Net Worth (RoNW)||Net Asset Value (NAV)|
Markets Guruji Opinion:
|IPO View||Apply For:||Expected listing Gain:|
|Check IPO Allotment Status:|
Bigshare Website (Click on the below link)
|Company Contact Info:|
|Uravi T and Wedge Lamps Ltd
Shop no.LG – 20, Lower Ground,
Avior, Nirmal Galaxy, L.B.S. Marg,
Mulund West, Mumbai 400 080.
Tel No: +91 – 22 – 2565 1355
|IPO Registrar Info:|
|BIGSHARE SERVICES PRIVATE LIMITED
1st Floor, Bharat Tin Works Building,
Opp. Vasant Oasis, Makwana Road,
Marol, Andheri East, Mumbai – 400 059
Tel: +91 – 22 – 6263 8200;
Fax: +91 – 22 – 6263 8299;
Investor Email: email@example.com
|Lead Manager to the Issue:|
|ARYAMAN FINANCIAL SERVICES LIMITED
60, Khatau Building, Ground Floor,
Alkesh Dinesh Modi Marg, Fort,
Mumbai – 400 001
Tel No.: +91 – 22 – 6216 6999
Fax No.: +91 – 22 – 2263 0434
Investor Email: firstname.lastname@example.org