About the Company:
Rithwik Facility Management Services is engaged in the business of integrated facilities & property management and equipment & assets management.
They offer services to various clients which includes various corporate and developers.Company has its headquarters in Mumbai and they provide their services in Chennai and Coimbatore.
Company’s major services include managing the Security of the Building, Common Area Housekeeping, Water supply system management, operation of all equipments of the Building, AMC of Amenities such as Lifts, Generators, Chiller Plants, AHUs, Air Conditioners, etc.
Currently they are operational in Chennai and Coimbatore. Going forward they intend to add more cities.They have plans to establish their presence in other cities beginning with Bengaluru, Madurai etc.
Company is also engaged in the business of billing management including raising of maintenance and energy invoices and managing collections of their clients.They manage the billing and collections on their own account for these clients.They get majority of their revenue from this segment.
This is a bulk business for the company, wherein company’s dedicated and skilled personnel professionally take care of entire billing and collection process. Currently majority of their revenues is from deployment of personnel for billing and collections services.
In the last 9 years company has grown from a handful of 5 employees to a team of 88 dedicated staff managing facilities in Chennai and Coimbatore.
Services Provided by the Company are as follows:
- Property Management / Facilities Management
- Real Estate and other Asset Management and Maintenance
- Billing and Collection Services
Revenue Breakup from Business Segments: (in Lakhs)
Management Team:
- Mr.Rithwik Rajshekar Raman (Designation: Chairman and Managing Director)
- Mr.Niranjan Vyakarna Rao (Designation: Whole Time Director)
- Mr.Natarajan Narayanasamy (Designation: Independent Director)
Promoters Average Acquisition Cost:
| Name of the Promoter | No. of Shares held | Average Acquisition Cost (in Rs.) |
|---|---|---|
| Rithwik Rajshekar Raman | 11,02,500 | 42.86 |
| Niranjan Vyakarna Rao | 13,500 | 11.11 |
Promoters Stake Pre & Post Issue:
| Shareholder Name | Pre Issue Stake (%) | Post Issue Stake (%) |
|---|---|---|
| Promoters | ||
| Rithwik Rajshekar Raman | 49.00 | 36.03 |
| Niranjan Vyakarna Rao | 0.60 | 0.44 |
| Promoter Group Entities | 50.40 | 37.06 |
| Total | 100% | 73.53% |
Objectives of the Issue:
- Meeting Additional Working Capital Requirements.
- Issue Expenses
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Working Capital requirements | 3.7 |
| Issue Expenses | 0.35 |
| Net Proceeds | 4.05 cr |
Financials of the Company:
| (in Crores) | FY 13 | FY 14 | FY 15 | FY 16 | FY 17 | 30th June 17 |
|---|---|---|---|---|---|---|
| Revenue | 6.77 | 13.50 | 21.61 | 23.90 | 21.49 | 5.52 |
| Net Profit | (-0.20) | 0.39 | 0.45 | 0.34 | 0.64 | 0.06 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Rithwik Facility Management Services Limited |
10 | 4.74 | 10.54 | 30.27% | 15.67 |
| Kaarya Facilities & Services Limited | 10 | 2.73 | 21.90 | 28.54 | 17.26 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 29th December 2017 |
| Issue Closes on:. | 3rd January 2018 |
| Issue Price | Rs.50 |
| Face Value | Rs.10 |
| Minimum Lot | 3000 |
| Minimum Investment | Rs.1,50,000 |
| Issue Constitutes | 26.47% |
| Issue Size | Rs.4.05 cr |
| Market Cap | Rs.15.30 cr |
| Listing at | BSE SME |
| Total Equity Shares Offered (Fresh) | 8,10,000 |
| Equity Shares Prior | 22,50,000 |
| Equity Shares after the issue | 30,60,000 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 4.74 | 10.54 | 30.27% | 15.67 |
Markets Guruji Opinion:
| IPO View | Apply For: | Expected listing Gain: |
|---|---|---|
| Subscribe | Listing Gain | 10% |
| Check IPO Allotment Status: |
|---|
Bigshare Website (Click on the below Link)http://www.bigshareonline.com/bssipoapplicationstatus.aspx |
| Company Contact Info: |
|---|
| Rithwik Facility Management Services Ltd RR Tower III, Thiru-VI-KA Industrial Estate, Guindy, Chennai – 600 032, Tamil Nadu, India Tel. No.: +91 44 43534441 Fax. No.: N.A. E-mail: info@rithwik.co.in Website: www.rithwik.co.in |
| IPO Registrar Info: |
|---|
| BIGSHARE SERVICES PRIVATE LIMITED 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai – 400 059, Maharashtra, India Tel. No.: +91 22 6263 8200 Fax. No.: +91 22 6263 8299 Email: ipo@bigshareonline.com Grievance Email: investor@bigshareonline.com Website: www.bigshareonline.com |
| Lead Manager to the Issue: |
|---|
| INVENTURE MERCHANT BANKER SERVICES PRIVATE LIMITED 2nd Floor, Viraj Tower, Nr. Andheri Flyover (North End) Western Express Highway, Andheri (East) Mumbai – 400 069, Maharashtra, India Tel No: +91 22 4075 1500; Fax No: +91 22 4075 1511; Email: sme.ipo@inventuremerchantbanker.com Grievance Email: redressal@inventuremerchantbanker.com Website: www.inventuremerchantbanker.com |
