IPO Update: Shigan Quantum Technologies Limited IPO to Open Next Week; Check Out Details

IPO Update: Shigan Quantum Technologies Limited IPO to Open Next Week; Check Out Details In Next Week, another  IPO is lined up to open for subscription in the primary market. The Shigan Quantum Technologies IPO is going to open on 28^th of February with fresh issue of 22.70 crore,

Shigan Quantum Technologies Limited:

Shigan Quantum Technologies is a company that designs, develops, and manufactures a variety of alternative fuel systems for OEMs and others, including CNG, LNG, and Hydrogen Fuel Kit systems. They make alternative fuel systems for heavy-duty trucks, light-duty trucks, and off-highway vehicles. With the advancement of technology, the company intends to acquire the expertise of foreign suppliers through joint ventures or outright purchases, and to localise the production of Gaseous Fuel Injection Technology systems. Such Gaseous Fuel Injection Technology systems will enable the company to produce products that comply with forthcoming emission regulations while also improving vehicle performance. The Company imports its raw materials from countries like Singapore, USA, Chicago, Mexico, Switzerland, China, Hong Kong, UAE, Italy, France, etc. It also buys raw materials from Indian sources in Pune, Gurugram, Ghaziabad, Bangalore, and other cities throughout the country.

When:

The Shigan Quantum Technologies IPO open date is Feb 28, 2022, and the close date is Mar 3, 2022. The issue may list on Mar 11, 2022.

• Fresh Issue: 4,539,000 Eq Shares of ₹10 (aggregating up to ₹22.70 Cr)
• Offer for sale: 4,539,000 Eq Shares of ₹10 (aggregating up to ₹22.70 Cr)
• Price band: Rs 50 per equity share.
• Face value: Rs 10 apiece.
• Lot size: 3000 shares
• Listing: NSE and BSE.
• Listing Date: March 11, 2022
• Lead managers: Finshore Management Services Limited
• Promoters:

Mr. Shishir Agrawal, Mr. Gagan Agrawal, Shigan Autotronics Private Limited, SA Shigan Trust and GA Shigan Trust are company promoters.

Objectives of the IPO:

The company aims to utilize the funds for following purpose:

• Meet working capital requirements.
• To finance machinery purchase.
• Meet offer expenditures.
• Meet general corporate purposes.

The Shigan Quantum Technologies IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹150,000).

Summary of Financial Information:

Particulars	Total Assets (₹ in Lakhs)	Total revenue (₹ in Lakhs)	Profit after Tax (₹ in Lakhs)
31 Mar-2019	2205.65	6908.42	266.07
31 Mar-2020	2473.48	7278.78	292.07
31 Mar-2021	4529.57	9602.26	351.34
31 Aug-2021	4679.17	6439.76	289.29