Patron Exim Limited SME IPO subscription is opening up soon in February 2023. According to the prospectus, the IPO consists of a fresh issue of INR 1668.60 Lakhs. There is no offer for sales in the IPO issue. The Equity Shares have a face value of Rs 10 each. The retail allocation is 50% of the total size.
Patron Exim Limited SME IPO – The Company Business Description
Patron Exim Limited is engaged in the business of all kinds of trading activities of surgical & non-surgical articles, APIs, drugs intermediates, Medical Pharmaceutical Chemicals, preparation & formulation of bio-chemic products, etc. in Ahmedabad and the surrounding area of Gujarat. The company is mainly engaged in
- APIs (Active Pharmaceutical Ingredients), Industrial chemical, excipient, and solvents, Pharma Chemical & Intermediates.
- The company is also trading a variety of chemicals, such as Petrochemicals, Dyes & Pigment Chemicals, Paints & Speciality Chemical, Agro Chemicals, Oil & Refinery Chemicals, Foam & Adhesive, Plywood & Laminates Chemicals.
- The range of Chemicals also includes food industry & water treatment chemicals, resins & plastics chemicals, polymers, and additives, etc.
- The company is certified in ISO 9001:2015 in Quality Management Systems and ISO 22000:2018 in Food Safety Management Systems.
- The business of the company can be segmented into three – 1) Chemical Raw Material – Non-Pharma which is contributing 65% of the total revenue in FY2022. 2) Pharma Raw Materials and APIs contribute ~12% of the total revenue. The rest of the revenue comes from the Commission business.
Patron Exim Private Limited Founders and Leadership team
Mr. Narendrakumar Gangaramdas Patel is the Promoter & Managing Director of the company. Mrs. Sushilaben Narendrakumar Patel is also one of the Promoters as well as the Director of the Company.
Patron Exim Private Limited Revenue and Profit
The company recorded a total turnover of INR 387.95 lakh in FY 2022 as against a turnover of INT 2053.58 lakh in FY 2021 and INR 2488.70 lakh in FY 2019. Total borrowings of the company has gone up to INR 617.64 lakh for the period ended on November 30, 2022 (FY2023).
Patron Exim Private Limited Financial Snapshot
| All amounts in INR Lakhs | |||
| (Year ended March 31) | 2020 | 2021 | 2022 |
| Revenue Operation | 2488.70 | 2053.58 | 387.95 |
| Total Revenue | 2516.44 | 2053.72 | 501.61 |
| Net Profit After Tax | 2.20 | 7.31 | 83.11 |
| Earnings per Share (EPS) | |||
| Net Cash from Operating Activities | 196.63 | (88.58) | 94.55 |
| Return on Net Worth (%) | 0.85 | 2.70 | 16.15 |
| Net Assets Value per Share | 10 | 10 | 10 |
| Total borrowings | 137.18 | 236.99 | 0 |
Objective Behind the Patron Exim Limited SME IPO
- Out of the net proceeds of this IPO, the company is planning to spend INR 1147 lakhs to meet the working capital requirements.
- The company would utilize INR 380 lakhs to meet General corporate purposes.
Patron Exim IPO: Do you invest?
- Patron Exim Private Limited has established strong and sustained relationships with clients for long-term business success.
- The company understands the requirements of the customer and executes them successfully.
- However, the total revenue of the company has gone down over the period from INR 2516.44 lakhs in FY 2020 to INR 501.61 lakhs in FY 2022.
- The net cash flow of the company is negative (-1574.16) for the period FY 2023 as of November 30, 2022. In FY 2021 the net cash flow from operating activities was also negative INR – 88.58.
- Looking at the financials and factors mentioned above, I would prefer to avoid this SME IPO at the moment.
Patron Exim IPO Details
| Patron Exim IPO Details | Patron Exim IPO Date, Price and other details |
| Opening Date | Feb 21, 2023 |
| Closing Date | Feb 24, 2023 |
| Patron Exim IPO Price | ₹27 per share |
| Patron Exim IPO Allotment date | Mar 1, 2023 |
| Refunds Initiation date | Mar 2, 2023 |
| Credit of Shares to Demat Account | Mar 3, 2023 |
| Patron Exim IPO Listing Date | Mar 6, 2023 |
| Offer for Sale | Nil |
| IPO Issue Size (Fresh Issue) | 6,180,000 shares of ₹10 (aggregating up to ₹16.69 Cr) |
| Minimum bid (lot size) For retail investor | 4000 Shares (₹108,000) |
| Retail Shares Offered | 50% of the Net Issue |
| HNI (Min) | 8000 Shares (₹216,000) |
| NII (HNI) Shares Offered | 50% of the Net Issue |
| Face Value | INR 10 per share |
| Listing on | BSE SME |
| Market Maker | SUNFLOWER BROKING PVT. LTD. |
| Promoters | Mr. Narendrakumar Gangaramdas Patel Mrs. Sushilabahen Narendrakumar Patel |
Patron Exim IPO: Lead Managers and Contact
| Contact Details | Patron Exim IPO Lead Managers |
| 411, Safal Perlude, B/h Ashwaraj Bunglows, 100 FT Road, Prahladnagar, Vejalpur, Ahmedabad – 380015, Gujarat, India. Email: info@patronexim.com Tel No.: +91 99799 78393 www.patronexim.com | 1. INTERACTIVE FINANCIAL SERVICES LIMITED |
Patron Exim Limited SME IPO Allotment Status
Patron Exim Limited SME IPO Allotment status will be available on BIGSHARE SERVICES PRIVATE LIMITED website. To know your allotment status, get ready with your PAN number and click on this link. You may also reach out to Tel. No.: +91 22 62638200, E-mail: ipo@bigshareonline.com
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