Teerth Gopicon Limited IPO
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Teerth Gopicon IPO

Teerth Gopicon is coming up with an IPO worth INR 44.40 crores, consisting of a fresh issue of 40 lakh shares. The company plans to utilize the funds raised to meet the working capital requirement and for general corporate purposes.

Teerth Gopicon Limited IPO – Important Dates

Teerth Gopicon IPO DateApril 8, 2024 to April 11, 2024
Teerth Gopicon IPO Listing DateApril 16, 2024
Teerth Gopicon IPO PriceINR 111 per share
Teerth Gopicon IPO Lot Size1200 Shares
Teerth Gopicon IPO Total Issue SizeINR 44.40 crores
Teerth Gopicon IPO Basis of AllotmentApril 12, 2024
Teerth Gopicon IPO Initiation of RefundsApril 15, 2024
Teerth Gopicon IPO Credit of Shares to DematApril 15, 2024
Teerth Gopicon IPO Issue TypeFixed Price Issue
Teerth Gopicon IPO Listing AtNSE SME

Teerth Gopicon Limited IPO  – Company Profile

Teerth Gopicon is an engineering construction and development company engaged primarily in the construction of roads, sewerage work, and water distribution work in Madhya Pradesh. The company has also worked as a sub-contractor and constructed residential towers in the city of Indore. The company has taken up various work as a registered civil contractor for various central/state governments like ISCDL, IMC, USCL, UMC, MPJNM, etc., and has also executed building works for the private sector. 

The company has executed a wide range of civil engineering projects like building construction work, water supply, pipeline, sewerage network, sewerage treatment plant, nalla tapping work, Re-use network, Head Tanks, GSR, Road work, Rejuvenation of Lake, etc.

Teerth Gopicon Ltd IPO Review

The financial data of the company presents a mixed but generally positive outlook. With consistent revenue growth, improved profitability metrics like RoNW and EPS, and a strengthened balance sheet indicated by reduced debt, investing in the IPO could be considered with thorough industry and market analysis.

  • Revenue Growth: The company has shown consistent revenue growth from ₹3,116.84 lakhs in March 2022 to ₹3,737.02 lakhs in September 2023, indicating a positive trend in sales.
  • Equity and Liabilities: Equity has increased steadily, indicating potential investor confidence. However, liabilities have also increased, which warrants careful scrutiny to ensure sustainable financial health.
  • Profitability: Profit after tax has significantly improved from ₹15.27 lakhs in March 2022 to ₹339.52 lakhs in September 2023, reflecting improved operational efficiency and profitability.
  • Return on Net Worth (RoNW): RoNW has shown a substantial increase from 2.50% to 30.09%, indicating better utilization of shareholders’ funds and improved profitability.
  • Earnings Per Share (EPS): Diluted EPS has increased from ₹0.19 to ₹4.24, indicating higher profitability per share.
  • Net Asset Value (NAV) per Equity Share: NAV per equity share has also increased over time, indicating potential value appreciation for shareholders.
  • Financial Health Ratios: The current ratio has slightly decreased, indicating a slight decrease in short-term liquidity. However, the debt-equity ratio has improved significantly, indicating reduced reliance on debt financing.

Teerth Gopicon Ltd IPO Fundamental Analysis

ParticularsAs of 31st March 2022As of 31st March 2023As of 30 September 2023
Revenue (₹ in lakhs)3,116.843,907.663,737.02
Equity (₹ in lakhs)609.49788.701,128.23
Expenses (₹ in lakhs)3,087.903,663.323,271.39
Profit and Loss After Tax (₹ in lakhs)15.27179.22339.52
RoNW (%)2.5022.7230.09
Diluted EPS only (₹)0.192.244.24
NAV per Equity Share (₹)12.1915.7722.56
Total Assets (in lakhs)4,277.164,743.307,541.30
Total Liabilities (in lakhs)3,667.673,954.606,413.07
Current Ratio (In times)1.731.231.13
Debt Equity ratio (in times)2.240.430.48

Teerth Gopicon Limited IPO Peer Comparison

Teerth Gopicon Limited exhibits moderate total income and RoNW. Man Infraconstruction Limited displays substantial total income, a high PE ratio, and decent EPS. ITD Cementation India Limited showcases impressive total income, EPS, and NAV per equity share. Likhitha Infrastructure Limited demonstrates a good EPS and RoNW. Udayshivakumar Infra Limited shows modest performance across metrics.

CompanyTotal Income(₹ in lakhs)Face Value (₹)EPS (₹)PE Ratio (in times)RoNW (%)NAV per Equity Share (Basic) (₹)
Teerth Gopicon Limited3907.06103.58NA22.7215.77
Man Infraconstruction Limited88,096.7624.4745.0714.6130.60
ITD Cementation India Limited470,058.0317.2338.7110.0472.04
Likhitha Infrastructure Limited35,861.52515.2218.5324.0163.39
Udayshivakumar Infra Limited28,790.71102.9013.5211.1326.05

Teerth Gopicon Ltd IPO Objective

The main objective is to allocate INR 27.50 crores to meet the working capital requirements due to the business’s working capital intensity. The remaining funds will be used for general corporate purposes.

  1. To fund the working capital requirements: As the business of the company is working capital intensive, the company plans to utilise INR 27.50 crores for the said purpose. 
  1. General Corporate Purpose: The Company plans to deploy the balance funds towards the general corporate goals, including but not restricted to strategic initiatives, partnerships, joint ventures and strategic entity/business acquisitions, branding, marketing, and new client referral fees meeting exigencies

Teerth Gopicon Limited IPO Risks And Challenges

Teerth Gopicon’s risks include operational concentration in Madhya Pradesh, dependence on a few key customers for revenue, and the need for timely regulatory approvals that could impact business operations.

  1. The business is concentrated in the state of Madhya Pradesh and any adverse development affecting the operations in the state could harm the business, financial condition, and results of operations.
  1. 100% of the revenue is generated from five customers. The loss of any significant clients may harm the business, financial condition, results of operations, and prospects.
  1. The business requires us to obtain and renew certain registrations, licenses, and permits from government and regulatory authorities and the failure to obtain and renew them on time may adversely affect the business operations.

Teerth Gopicon Ltd IPO – Industry & Market Potential

India must enhance its infrastructure to reach its 2025 economic growth target of US$ 5 trillion. India’s population growth and economic development require improved transport infrastructure, including investments in roads, railways, aviation, shipping, and inland waterways. The government has also suggested an investment of $750 billion to strengthen railway infrastructure and envisioned the Maritime India Vision 2030, which estimates massive investments in world-class infrastructure development at Indian ports. 

India‘s logistics market is estimated to reach US$ 410.75 billion in 2022 and is expected to reach US$ 556.97 billion by 2027, growing at a CAGR of 6.28%. India intends to raise its ranking in the Logistics Performance Index to 25 and bring down the logistics cost from 14% to 8% of GDP, leading to a reduction of approximately 40%, within the next five years. 

Teerth Gopicon Limited IPO  – Type of Offer

Teerth Gopicon plans to launch an IPO valued at INR 44.40 crores, involving a fresh issue of 40 lakh shares. The company intends to use these funds to meet working capital needs and general corporate purposes.

Teerth Gopicon Ltd IPO Offer Size

The offer size for Teerth Gopicon’s IPO is INR 44.40 crores, comprising a fresh issue of 40 lakh shares. The company aims to utilize these funds to address working capital requirements and for general corporate purposes.

Teerth Gopicon Limited IPO Allotment Structure

Teerth Gopicon Limited’s IPO allotment structure includes a Retail Individual Investors (RII) category with investments below ₹2 lakhs, a category for other investors exceeding ₹2 lakhs, and a reservation for Market Makers.

  •  Retail Individual Investors (RII): These individual investors apply for shares with a total value of less than Rs.2 lakhs.
  • Other than retail individual investors: Such applications with value exceeds INR 2 lakhs.
  •  Market Maker Reservation: A certain percentage or number of shares is reserved for market makers.

How to apply for a Teerth Gopicon Limited IPO?

To apply for the Teerth Gopicon IPO through Alice Blue, you would typically follow these steps:

  1. Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
  2.  Check for IPO Details: Once your account is active, you can check for the Teerth Gopicon IPO details in the IPO section of the Alice Blue platform.
  3.  Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
  4.  Submit the Application: Confirm all your details and submit your application.

You can apply for the Teerth Gopicon 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 to check Teerth Gopicon IPO Allotment Status on Alice Blue?

Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:

1. Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.

2. 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.

3. 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.

4. Select the Teerth Gopicon 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 Teerth Gopicon IPO.

5. Check the Status: The status of your application should be displayed he