Incorporated in 1989, Nitiraj Engineers Limited manufactures and sells a range of electronic weighing scales and systems, currency counting machines, and electronic fare meters for industrial and domestic consumption.
They offers jewelry, tabletop, price computing, piece counting, platform, hanging, industrial weighing, baby weighing, person weighing, adult weighing, body mass index, and kitchen scales; and special application indicators, currency counting machines, and taxi/rickshaw fare meters. The company supplies its products under the Phoenix brand name through a network of dealers to customers in India and internationally
| Purpose | Amount (₹ Cr) |
|---|---|
| Development of new products | ₹5 |
| Setting up manufacturing Unit for the existing and new range of product | ₹6 |
| Expansion of Marketing Network and Brand building | ₹5 |
| General Corporate Purposes | ₹5 |
| Issue Expenses | ₹1 |
| Metric | 31-Dec-15 | 31-Mar-15 | 31-Mar-14 |
|---|---|---|---|
| Total Assets | 4,691 | 3,706 | 3,270 |
| Revenue | 4,520 | 9,063 | 7,726 |
| PAT | 365 | 418 | 389 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| NII / HNI | — | 1,045,200 (47%) | — |
| Retail (RII) | — | 1,045,200 (47%) | — |
| Market Maker | — | 110,400 (5%) | — |
| Total | — | 2,200,800 (100%) | — |
* Amount calculated at upper price band (₹100) · ** Total includes all investor categories
- Retail allocation is strong at 47% of the total offering.
- HNI/NII demand is strong at 47%.
This IPO shows strong fundamentals and healthy investor demand. Research the business model and compare with sector peers before applying.
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