About the Company:
Aspire & Innovative Advertising Ltd is engaged in the business of trading of wide range of consumer durables like kitchen appliances, home appliances, white goods, mobile phones and its accessories, solar products etc.
Company deals with multiple renowned brands such as Bajaj, Prestige, Vivo, Samsung, Crompton, Whirlpool, Hindware, Havells and many more.
Company’s range of products are offered at different price points to meet diverse customer requirements across India along with delivery of products mainly in the rural and semi urban areas.
Company started the business in 2017 with an objective of providing basic but advanced products to India’s rural and semi urban population along with product delivery up to customers’ doorstop, in rural and semi urban areas of the country with focus on un-banked and underbanked customer segments
Company sells product majorly through intermediaries i.e. Non – Banking Financial Companies (NBFCs), Micro Finance Institutions (MFIs) and there is no other trading platform for selling of products.
Company has entered into commercial arrangements with a large number of intermediaries like Non-Banking Financial Companies (NBFCs), Non-Banking Financial Companies (NBFCs)- Micro Finance Institutions (MFIs) along with Warehousing and Transportation facilities in 16 states in India.
Company operates on an asset light business model, where major expenditure is for payment of facilitation fees & commission to these intermediaries for their services which include services like marketing of our products.
Based on such expected demand, company place orders with related product companies to deliver the required products at our different warehouses across various states of India.
For the purpose of storing and then delivering the products to customers, company has warehousing and transporting facility in 16 states of India from where we deliver these products at doorsteps of customers, mostly in the rural and semi-urban areas.
Promoters Background:
Company was founded in the year 2017 and Promoter, Nitesh Agarwalla, with his prior experience of approx. 15 years in sales and marketing has been associated with the company since its inception.
In 2019 he was elevated as the Director of the Company. Since he himself has worked with NBFCs & MFIs in past, he understands the ground realities of rural and semi urban operations along with an exposure of dealing with rural and semi urban population.
He is involved in the critical aspects of our business, including expansion, sales and marketing.
Company’s Product Portfolio:
Company’s product portfolio comprises of more than 50 products such as pressure cookers, induction cooktops, mixer-grinder, Dinner Sets, sewing machine, ceiling fan, iron, inverter bulbs, electric heaters, mobile phones, television, fridge, washing machine, headphones, solar lanterns etc.
In addition to offering third-party brands, company started selling Stainless Steel Dinner Sets under our own brand name in 2022.
Furthermore, in 2023, company expanded the product range to include pressure cookers, also, branded under own brand name i.e. “Aspire Classico”. These products are sourced or manufactured by third parties.
Category-wise revenue over last three years: (in Lakhs)
Appreciations, Awards and Accreditations:
- Certificate of Appreciation by TTK Prestige for Rural Business performance, reaching a turnover of Rs. 105 Crore in FY 2021-22.
- Certificate of appreciation by Midland Microfin, for achieving milestone – 2,00,000 units of Prestige Pressure Cooker.
- Certificate of appreciation by Sugmya Finance, for achieving milestone of financing 56,000 families of consumer Durable Products.
- Letter of Appreciation from Rico Home Appliances for delivering their Quality Products to the end customers.
- Momento from Vivo enterprise Sales for becoming Vivo Authorized MFI partner.
Competition in the Business:
Some of company’s competitors in the market include Grameenext Private Limited, Inditrade Rural Marketing Limited (Boonbox), Vishi Enterprises, etc.
Management Team:
- Mr. Nitesh Agarwalla (Designation: Chairman & Managing Director)
- Ms. Rinku Agarwalla (Designation: Whole Time Director & CFO)
Objectives of the Issue:
Fresh Issue: (Rs.21.96 cr)
- To meet Working Capital requirements.
- To finance the cost of establishing new warehouses.
- General Corporate Purpose.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| To meet Working Capital requirements | 9.0 cr |
| To finance the cost of establishing new warehouses | 4.95 cr |
Peer Group Comparison:
There are no listed companies in India that are engaged in the business line similar to that of Aspire & Innovative Advertising Ltd, thus it is not possible to provide an industry comparison in relation to the company.
Financials of the Company:
| (in Crores) | FY 21 | FY 22 | FY 23 | Upto 30th Sept 23 |
|---|---|---|---|---|
| Revenue | 108.11 | 255.37 | 345.71 | 176.57 |
| Net Profit | 2.27 | 4.37 | 5.30 | 3.93 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 26th March 2024 |
| Issue Closes on | 28th March 2024 |
| Issue Price | Rs.51-54 |
| Face Value | Rs.10 |
| Minimum Lot | 2000 Shares |
| Minimum Investment | Rs.1,08,000 |
| Issue Constitutes | 26.80 % |
| Issue Size | Rs.21.96 cr |
| Market Cap | Rs.81.96 cr |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 40,68,000 (Rs.21.96 cr) |
| Equity Shares Prior to the Issue | 1,11,10,000 |
| Equity Shares after the Issue | 1,51,78,000 |
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 1st April 2024 |
| Initiation of Refunds | on or Before 2nd April 2024 |
| Credit of Equity Shares: | on or Before 2nd April 2024 |
| Listing Date: | on or Before 3rd April 2024 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 4.78 | 11.29 | 34.22% | 13.96 |
| Company Contact Info: |
|---|
| Aspire & Innovative Advertising Ltd C-4 Baldev Park, Shahdara, East Delhi-110051, Delhi, India. Corporate Office: Plot No. 52, Sector-44, Gurugram- 122003, Haryana, India. Tel No: +91-124-2213055; E-mail: cs@aspireinnovate.in Website: www.aspireinnovate.in |
| Registrar to the Issue: |
|---|
| BIGSHARE SERVICES PRIVATE LIMITED 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East) Mumbai – 400093, Maharashtra, India. Tel. No.: +91 22 6263 8200; Investor Email: investor@bigshareonline.com Website: www.bigshareonline.com |
| Lead Manager to the Issue: |
|---|
| HEM SECURITIES LIMITED Address: 904, A Wing, Naman Midtown, Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai-400013, Maharashtra, India. Tel. No.: +91- 22- 49060000; Email: ib@hemsecurities.com Website: www.hemsecurities.com |
| Check IPO Allotment Status: |
|---|
Bigshare: http://www.bigshareonline.com/IPO/Allotment
|
