Esprit Stones IPO: Check issue size, price band, GMP and other details

The SME IPO of Esprit Stones opened for subscription today and will close on July 30. The company aims to raise about Rs 50.42 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

1) Esprit Stones IPO size

The IPO is entirely a fresh equity issue of 57.95 lakh shares and through the issue, the company plans to raise Rs 50.42 crore.


2) Esprit Stones IPO price band

The company is offering its shares at Rs 82-87 apiece, and investors can bid for 1600 shares in 1 lot.

3) Esprit Stones GMP

In the unlisted market, the company's shares are trading with a GMP of Rs 30, which translates to a premium of over 40% to the issue price.

4) About Esprit Stones

The company is primarily engaged in the manufacturing of engineered stones such as engineered quartz surfaces and engineered marble surfaces. It majorly manufactures engineered quartz surfaces and through its subsidiary, HSPL, the company also makes engineered marble surfaces.

5) Industry overview

The Indian engineered stone market is estimated to be valued at $3,643 million in 2022. The industry is expected to grow at a CAGR of 7-8% in the projected years between 2022 to 2027. By the year 2032, the market is expected to reach $7,355 million.

Also Read: Aprameya Engineering IPO: Check issue size, price band, GMP and other details

6) Esprit Stones financial performance

For the year ended March 2024, the company clocked total revenues of Rs 272.89 crore and net profit of Rs 10.31 crore.

7) Objects of the offer

The net proceeds from the public offer will be used for funding working capital requirements, investment in its subsidiary for repayment of debt and general corporate purposes.

8) Lead managers and Registrar

Choice Capital Advisors is acting as the lead manager to the issue and Link Intime India is the registrar.

9) Issue structure

About 50% of the offer is reserved for QIB investors, 35% for retail investors and the rest 15% for non-institutional investors.

10) Important dates

The IPO opened on July 26 and will close on July 30. The final allotment will likely be made on July 31. The company's shares will likely get listed on August 2.