Aztec Fluids & Machinery Limited consists of a fresh issue of 36,00,000 shares worth INR 24.12 crores. The company aims to acquire Jet Inks Private, repay borrowing, and fulfill general corporate objectives.
Aztec Fluids & Machinery IPO – Important Dates
| Aztec Fluids & Machinery IPO Date | May 10, 2024 to May 14, 2024 |
| Aztec Fluids & Machinery IPO Listing Date | May 17, 2024 |
| Aztec Fluids & Machinery IPO Price | INR 63-67 per share |
| Aztec Fluids & Machinery IPO Lot Size | 2000 shares |
| Aztec Fluids & Machinery IPO Total Issue Size | INR 24.12 crores |
| Aztec Fluids & Machinery IPO Basis of Allotment | May 15, 2024 |
| Aztec Fluids & Machinery IPO Initiation of Refunds | May 16, 2024 |
| Aztec Fluids & Machinery IPO Credit of Shares to Demat | May 16, 2024 |
| Aztec Fluids & Machinery IPO Issue Type | Book Built Issue IPO |
| Aztec Fluids & Machinery IPO Listing At | BSE SME |
Aztec Fluids & Machinery Ltd IPO – Company Profile
Aztec Fluids & Machinery Limited, established in 2010, offers coding and marking solutions to various industries. Their product line includes printers like CIJ, TTO, DOD, NIJ, laser printers, inks, and consumables, enabling the printing of vital information on diverse materials.
They procure inks from Fluidtech Corp, which is owned by their promoters, and manufacture consumables and inks in-house. With patented cartridge designs and embedded PCB chipsets for identification, they mitigate the risks of counterfeit products.
They own a warehouse in Kheda, Gujarat, for storing imported printers and recently acquired land for expansion. Construction of a new facility for printer assembly and testing is underway, complementing existing operations in Ahmedabad.
Aztec Fluids & Machinery Limited IPO Review
Aztec Fluids & Machinery Limited’s financial analysis reveals a mixed performance. Revenue increased steadily over three years while profit fluctuated. Equity, assets, and liabilities also showed upward trends, with a declining debt-equity ratio and stable current ratio.
- Revenue Trend: The revenue increased from ₹4,571.55 lakhs in March 2022 to ₹5,426.11 lakhs in March 2023. The revenue for the current year’s 9-month period ending December 2023 is INR 5,092.86 lakhs, greater than last year’s 9-month benchmark.
- Equity and Liabilities: Both equities and liabilities have shown a consistent increase over the periods, reflecting potential growth and expansion. However, the debt-equity ratio has decreased, indicating reduced reliance on debt financing.
- Profitability: The profit after tax (PAT) has significantly increased from ₹311.25 lakhs in March 2022 to ₹450.74 lakhs by December 2023. This improvement in profitability could be a source of confidence for investors.
- Earnings per Share (EPS): The diluted EPS has risen from ₹3.11 in March 2022 to ₹4.51 by December 2023, reflecting higher earnings per share for investors.
- Return on Net Worth (RoNW): The RoNW has grown from 25.13% to 22.69%, indicating a decrease in the company’s ability to generate returns on shareholder equity.
- Financial Position: Total assets have increased, suggesting potential business growth. However, the current ratio has declined, indicating weakening liquidity and potential challenges in meeting short-term obligations.
Aztec Fluids & Machinery Ltd IPO Fundamental Analysis
| Particular | As of 31 March 2022 | As of 31 March 2023 | As of 31 December 2023 |
| Revenue (₹ in lakhs) | 4,571.55 | 5,426.11 | 5,092.86 |
| Equity (₹ in lakhs) | 1,238.56 | 1,535.60 | 1986.34 |
| Expenses (₹ in lakhs) | 4,228.59 | 5,022.08 | 4572.97 |
| Profit and Loss After Tax (₹ in lakhs) | 311.25 | 327.38 | 450.74 |
| Diluted EPS only (₹) | 3.11 | 3.27 | 4.51 |
| Return on Net Worth (%) | 25.13 | 21.32 | 22.69 |
| NAV per Equity Share (₹) | 12.39 | 15.36 | 19.86 |
| Total Assets (in lakhs) | 2,707.75 | 3,090.06 | 4,287.00 |
| Total Liabilities (in lakhs) | 1,469.18 | 1,554.46 | 2,300.66 |
| Debt-Equity Ratio | 0.45 | 0.37 | 0.28 |
| Current Ratio | 1.51 | 1.55 | 1.34 |
Aztec Fluids & Machinery IPO Peer Comparison
Aztec Fluids & Machinery Limited demonstrated stable financial indicators with a moderate diluted EPS, a healthy return on equity, and a steady NAV per Equity Share. Control Print Limited showcased revenue growth and a substantial asset base.
| Company | Face Value (₹) | P/E (₹) | EPS (Basic & Diluted) (₹) | RoNW (%) | Book Value (₹) | Total Income (₹) |
| Aztec Fluids & Machinery Limited | 10 | NA | 3.27 | 21.32 | 15.36 | 5,452.97 |
| Control Print Limited | 10 | 29.13 | 32.36 | 17.23 | 180.00 | 3,0815.16 |
Aztec Fluids IPO Objective
The main objective of Aztec Fluids & Machinery Limited is to secure funds to acquire equity shares of Jet Inks Private Limited and repay a portion of existing borrowings.
- Funding of the proposed acquisition of equity shares of Jet Inks Private Limited: To support inorganic growth, Aztec Fluids & Machinery Limited intends to acquire 100% equity shares of Jet Inks Private Limited, leveraging its manufacturing capacity and Southern India presence—initial stake acquired for INR 3 crores, pending complete acquisition for INR 14 crores.
- Repayment of a portion of certain borrowing availed by the company: The company intends to utilize INR 3.40 crores for repayment of the cash credit limit and INR 32 lakhs for repayment of the working capital term loan, aiming to reduce indebtedness and enhance future growth prospects.
- General Corporate Purpose: The company will balance funds towards general corporate goals, including meeting operating expenses and initial development costs for projects other than the identified projects and strengthening business development and marketing capabilities to meet exigencies.
Aztec Fluids IPO Risks And Challenges
Aztec Fluids & Machinery Limited’s risk includes legal proceedings affecting its net worth, profitability, and focus. Its exclusive distributorship with Lead Tech and manufacturing agreement with Fluidtech are pivotal for operations.
- Outstanding legal proceedings involving the company, directors, and promoters pose risks to net worth, profitability, and management focus. Adverse decisions could negatively impact finances, operations, and overall business prospects.
- Since 2015, they’ve been the exclusive distributor of Lead Tech (Zhuhai) Electronic Co. Ltd. Their agreement, valid until December 06, 2026, entails sales responsibilities and after-sales service and prohibits product customization without approval.
- The company currently manufactures printer consumables but intends to discontinue this as they’ve entered an exclusive manufacturing agreement with Fluidtech for inks and consumables. Termination or modification of this agreement would impact operations adversely.
Aztec Fluids & Machinery Ltd IPO – Industry & Market Potential
India’s Capital Goods sector, valued at US$ 43.2 billion in FY22, contributes 12% to manufacturing output and 1.8% to GDP. Electrical equipment imports were US$ 16.1 billion in FY21, with domestic market growth projected at US$ 72 billion by 2025.
India’s electronics manufacturing industry is poised to reach US$520 billion by 2025, with demand expected to surge to US$400 billion. Government initiatives like ‘Digital India’ and ‘Make in India’ support industry growth.
The Indian chemicals industry, valued at US$178 billion in 2019, is projected to reach US$304 billion by 2025, with a CAGR of 9.3%. The specialty chemicals segment anticipates substantial growth driven by domestic demand and exports.
Aztec Fluids & Machinery IPO – Type of Offer
Aztec Fluids & Machinery Limited consists of a fresh issue of 36,00,000 shares worth INR 24.12 crores. The company aims to acquire Jet Inks, repay borrowing, and fulfill general corporate objectives.
Aztec Fluids & Machinery Ltd IPO Offer Size
The offer size of Aztec Fluids & Machinery Limited is INR 24.12 crores, consisting of a fresh issue of 36,00,000 shares. The company seeks funds to acquire Jet Inks, repay borrowing, and fulfill general corporate objectives.
Aztec Fluids IPO Allotment Structure
Aztec Fluids & Machinery allocation will be as follows: 50% for Qualified Institutional Buyers (QIB), 35% for Non-Institutional Investors (NII), and 15% for Retail Individual Investors (RII) according to SEBI regulations. 182,000 shares are reserved for market makers.
● Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
● Non-Institutional Investors (NII): 35% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs.2 lakhs.
● Retail Individual Investors (RII): The remaining 15% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs.2 lakhs.
● Market Maker Reservation: A portion of shares, i.e 182,000 shares are reserved for marker makers.
How to apply for Aztec Fluids & Machinery ‘s Ltd IPO?
To apply for the Aztec Fluids & Machinery IPO through Alice Blue, you would typically follow these steps:
Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the Aztec Fluids & Machinery IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for the Aztec Fluids & Machinery IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How do you check Aztec Fluids & Machinery ‘s IPO Allotment Status?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
- Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
- Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
- Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
- Select the Aztec Fluids & Machinery IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Aztec Fluids & Machinery IPO.
- Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, it’s recommended that you contact Alice Blue’s customer support for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Aztec Fluids & Machinery IPO:
● Registrar’s Website: Visit the website of Bigshare Services Private Limited, the registrar of the Aztec Fluids & Machinery IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
● BSE SME: You can also check the allotment status on the official websites of the Bombay Stock Exchange (BSE) Small Medium Enterprise (SME). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.
Aztec Fluids & Machinery Ltd IPO Offer Registrar
The registrar for the Aztec Fluids & Machinery IPO is Bigshare Services Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
BIGSHARE SERVICES PRIVATE LIMITED
Office No. S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali CavesRoad, Andheri East,
Mumbai – 400 093, Maharashtra, India
Tel: 022 – 6263 8200
E-mail: [email protected]
Website: www.bigshareonline.com
Aztec Fluids & Machinery IPO – FAQs
The allotment date of the Aztec Fluids & Machinery IPO is May 15, 2024.
The price band of the issue is INR 63-67 per share.
The offer size of Aztec Fluids & Machinery Limited is INR 24.12 crores, consisting of a fresh issue of 36,00,000 shares. The company seeks funds to acquire Jet Inks, repay borrowing, and fulfill general corporate objectives.
The listing date of Aztec Fluids & Machinery IPO is May 17, 2024.
