Nitin Fire Protection Industries IPO
Nitin Fire Protection Industries IPO — date, price band, lot size & details 2007
Nitin Fire Protection Industries listed on 5 Jun 2007 at ₹332.5, 75% above the ₹190 issue price.
Nitin Fire Protection Industries provides fire protection, safety and security systems and high pressure seamless cylinders and refuelling systems, sold in India under the EURO brand. Its net worth was Rs 2,276.88 lacs in the latest period before its IPO.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 15 May 2007
- Close 18 May 2007
- Allotment TBA
- Refund/credit TBA
- Listing 05 Jun 2007
Issue summary
The terms of the offer, as filed.
| IPO Dates | 15 to 18 May, 2007 |
|---|---|
| Price Band | ₹171 – ₹190 |
| Face Value | ₹10 |
| Lot Size | 35 Shares |
| Issue Size | ₹64.47 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 6,650 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 35 shares at the ₹190 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 35 | ₹6,650 |
| Retail (max) | 30 | 1,050 | ₹1,99,500 |
| S-HNI (min) | 31 | 1,085 | ₹2,06,150 |
| S-HNI (max) | 150 | 5,250 | ₹9,97,500 |
| B-HNI (min) | 151 | 5,285 | ₹10,04,150 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Restated net profit rose from Rs 50.39 lacs to Rs 295.55 lacs over the periods shown in the prospectus.
- 02Net worth rose from Rs 495.69 lacs to Rs 2,276.88 lacs over the same periods.
- 03It offered end to end fire protection systems across 2 business areas.
- 04Return on net worth was 14.08%.
Risks · 5
- 01Its subsidiary Nitin Cylinders had no installed capacity yet and only 9 staff, as its plant was still to be set up.
- 02The Visakhapatnam SEZ unit needed about 272 people, against 85 employees in the company.
- 03SEZ rules require positive net foreign exchange earnings within 5 years of production.
- 04Cylinders sold in India were contract made in China, a supply risk for its EURO brand across 2 businesses.
- 05Promoter and promoter group holding fell from 95.06% before the issue to 69.49% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Nitin Fire Protection Industries offer document.
| Metric | 31 Mar 2007 | 31 Mar 2006 | 31 Mar 2005 | 31 Mar 2004 |
|---|---|---|---|---|
| Total Income | 28.33 | 27.75 | 21.04 | 17.11 |
| Profit After Tax | 2.96 | 2.00 | 0.77 | 0.50 |
| NET Worth | 22.77 | 11.24 | 5.97 | 5.45 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Nitin Fire Protection Industries RHP.
Where the money goes
₹123.34 Cr of the issue is earmarked to named objects.
About the company
It works in 2 areas: fire protection, safety and security, including intelligent building management systems, where it designs, makes and installs systems end to end; and high pressure seamless cylinders and refuelling systems.
Its domestic market cylinders were contract made in China and sold under the EURO brand. Its subsidiary Nitin Cylinders was to set up a cylinder plant in the Visakhapatnam SEZ needing about 272 employees, while the company had 85 employees.
The IPO was Rs 64.47 crore and was entirely a fresh issue at Rs 190, the top of the Rs 171 to Rs 190 band.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Nitin Fire Protection Industries IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Karvy Investor Services Ltd
31 issues handledBest listing: Ramkrishna Forgings (+92.3%). Weakest: Astral Poly Technik (-10.4%).
Standard Chartered Securities (India) Ltd
24 issues handledBest listing: Vivimed Labs (+87.1%). Weakest: Abhishek Mills (-14.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Nitin Fire Protection Industries?
The current Grey Market Premium is ₹0.
What is the Nitin Fire Protection Industries IPO price band?
₹171 to ₹190, on a face value of ₹10.
When is the allotment?
The basis of allotment is TBA, with listing on 5 June 2007.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
