SEL Manufacturing Co IPO
SEL Manufacturing Co IPO — date, price band, lot size & details 2007
SEL Manufacturing Co listed on 21 Aug 2007 at ₹95, 5.6% above the ₹90 issue price.
SEL Manufacturing is a Ludhiana based textile company that makes cotton yarn, knitted fabric and knitted garments, mostly exported to Russia and the UAE. Its restated profit after tax was Rs 23.69 crore in FY2007.
Stock price
SEL Manufacturing Co is listed — here is the live share price.
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 26 Jul 2007
- Close 31 Jul 2007
- Allotment 13 Aug 2007
- Refund/credit TBA
- Listing 21 Aug 2007
Issue summary
The terms of the offer, as filed.
| IPO Dates | 26 to 31 Jul, 2007 |
|---|---|
| Price Band | ₹80 – ₹90 |
| Face Value | ₹10 |
| Lot Size | 75 Shares |
| Issue Size | ₹37.25 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 6,750 |
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 75 shares at the ₹90 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 75 | ₹6,750 |
| Retail (max) | 29 | 2,175 | ₹1,95,750 |
| S-HNI (min) | 30 | 2,250 | ₹2,02,500 |
| S-HNI (max) | 148 | 11,100 | ₹9,99,000 |
| B-HNI (min) | 149 | 11,175 | ₹10,05,750 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Restated profit before extraordinary items rose from Rs 3.15 crore in FY2005 to Rs 23.69 crore in FY2007.
- 02Net worth rose from Rs 93.93 crore in FY2005 to Rs 132.05 crore in FY2007.
- 03It spans yarn, fabric and garments, with 49,056 spindles and capacity for 6 million garment pieces a year.
- 04Its net operational income was Rs 187.47 crore in FY2007.
Risks · 5
- 01Most garment sales went to 2 markets, Russia and the UAE, so it depended on a few export markets.
- 02The expansion project cost Rs 184.57 crore, far more than the Rs 37.25 crore raised, so the rest needed loans or internal funds.
- 03Restated results include a large extraordinary loss in FY2005, so profits swung from year to year.
- 04Cotton prices and the rupee drive textile margins; restated profit was Rs 14.88 crore in FY2006.
- 05Promoter holding fell from 88.59% before the issue to 64.48% after it.
Three years of numbers
All figures in ₹ crore, as reported in the SEL Manufacturing Co offer document.
| Metric | 31 Mar 2007 | 31 Mar 2006 | 31 Mar 2005 |
|---|---|---|---|
| Profit After Tax | 23.69 | 14.88 | 3.15 |
| NET Worth | 132.05 | 108.81 | 93.93 |
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 SEL Manufacturing Co RHP.
Where the money goes
₹187.72 Cr of the issue is earmarked to named objects.
About the company
It is a vertically integrated textile company that makes and exports cotton yarn, knitted fabric and knitted garments such as t-shirts, polo shirts, sweat shirts and thermals, from plants in Ludhiana, Punjab and Baddi, Himachal Pradesh.
It could make 6 million garment pieces a year and had about 49,056 spindles. Most of its garments were exported to Russia and the UAE, where it had representative offices. Saluja Fabrics and Saluja Processors were merged into it from 1 April 2004.
The IPO was Rs 37.25 crore and was entirely a fresh issue at Rs 90, the top of the Rs 80 to Rs 90 band. The money was to part fund an expansion project and for working capital.
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.
SEL Manufacturing Co 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.
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 SEL Manufacturing Co?
The current Grey Market Premium is ₹0.
What is the SEL Manufacturing Co IPO price band?
₹80 to ₹90, on a face value of ₹10.
When is the allotment?
The basis of allotment is 13 August 2007, with listing on 21 August 2007.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India 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.
