Ishan International Limited IPO Details, Review, GMP, Subscription Status and Allotment

The company provides top-end engineering services and solutions to various types of activities in hydropower, sugar & jaggery, pharmaceuticals, and pollution control systems. The company markets heavy machinery equipment internationally on different projects abroad, especially in the Philippines, Vietnam, and Indonesia, for esteemed clients such as Busco Sugar Milling Co. Inc, Universal RRobina CorporationC Group, First Farmer Holding Corporation FFHC, Sonedco, Sunwest, Navetco-National Veterinary Joint Stock Company, Minh Dan Pharmaceutical Joint Stock Company, Thien Tan, Song Da Group, NCC, Kosy Group, Tra Linh, PBT PT. Ishan International Limited has established foreign offices in Philippines, Indonesia, Hanoi (Vietnam), Ho Chi Minh City (Vietnam) and Kenya (in-process). 

The Companys underlying quality management system is certified to ISO 9001: 2015. Ishan International Limiteds products include E.P.S., Jaggery Plant and Equipment, Cane Crushing Equipment, Mill Cheeks, Gear Boxes, Rope Couplings, Ropeless Couplings, Square Couplings, Automation Equipment, Complete Rollers, Bare Shells, Hammer Tips, Shafts, Juice Rings, Fibrizers, AC Motor for 1500 KW Mill Drive with accessories, Grooving Tools, Tableting Machines, Powder Filling Lines, Liquid Filling Lines, Laboratory Equipment, Sterilization Tunnels, Washing Machines, AHUs, Filters, Filters, Distillation Units, Filters, Filters, Filters, Pure Steam Generators, Among others. Ishan International Limited is committed to raising Rs. 

Unlike most of the SME IPOs that are pouring out these days, this one is coming from a 26-year-old company that has been in unchallenged domination in South-East Asias engineering infrastructure markets, with foreign offices in Philippines, Indonesia, Hanoi (Vietnam), Ho Chi Minh City (Vietnam) and Kenya (in process). Having undisputed dominance with an 80 percent market share in such developed countries means easier access to massive funds and infinite business opportunities in engineering infrastructure. Understanding the scenario in a business perspective, India provides highest-quality engineering solutions at lowest rates anywhere in the world. 

For past 20 years, Ishan International Ltd. has been taking those engineering solutions from India and selling it in those developing countries in Southeast Asia, with the help of trained personnel, ultimately helping the company establish its dominance in a very short period. Considering there are over 30 underdeveloped nations near Asia, Ishan International plans on taking over and monetising this untapped market over the next 5 years. This is clearly evidence that Ishan International Ltd. is efficiently using its dominant position in the market and its supply chain to build an extremely profitable environment for its investors. 

Before investing in this IPO, be aware of the fact that the largest Indian industry is an engineered one. The engineering industry is significant for Indias economy as it is associated with selling and producing machinery and engineering infrastructure. India is developing its engineering sector in order to be a global superpower. The Engineering Export Promotion Council (EEPC) facilitates the export of Indian engineering goods, products, and services globally. 

Ishan International is a certified “Star” Export House. To become a certified Star export house and to maintain a Star Export House Certification, the business has to contribute significantly to the Indian Foreign Trade. 

By understanding the financials of the company as per the DRHP, we can say that, on its existing bookings of Rs 40-50 Crore+, Ishan International Limited has seen almost 250% increase in its revenues since the previous quarter. The company has seen a staggering 87% increase in profit after taxes, as well as 20% increase in overall company networth since last quarter. The company also came with a P/E ratio lower than peers, and EPS higher than peers.

Another notable note is the lack of a sell-off offer, since Ishan International is making a fresh Initial Public Offering, which will effectively be used to finance additional corporate activities and JVs. Ishan International Limited has planned to make an fixed-price issue of Rs 80 per equity share, which is generally considered a fair price for the company. The GDP is still at positive marks, but is still unknown to everyone. If investors are looking for companies that have gradual yet prolonged growth potential in a perennial sector such as infrastructure, Ishan International may turn out to be a great pick. 

To add some contrast to the picture and make this IPO one worth waiting for, let us compare Thermax Ltd. The market leader at Rs2.85 Lacs has an P/E of 86% and 4% ROIC while Ishan International Ltd. has an P/E ratio of 32% and 3% ROIC based on its latest quarter results. Ishan International, being at a smaller end, has managed to do slightly better than industry benchmarks because of its undeniable geographic dominance and high-efficiency supply chain.   

Ishan is active in multiple sectors & geographies. Sugar & jaggery plants and machinery, pharmaceuticals, hydroelectric power plants, pollution control equipment. The Company is expected to become the Leader in the industry in coming years. The company first started up with a 66-megawatt unit during fiscal year 2019-20, and received further orders immediately following this deployment. The companys cross-vertical footprint gives it a wide portfolio of products and strong order books, which makes it financially feasible. 

Ishan is expecting recurring orders following a successful execution of the larger orders, and making the existing order book stronger. As long as humanity exists, engineering infrastructure will increase exponentially to fill needs. In engineering infrastructure, well-established supply chains, trained personnel, and high-quality machines are critical to the development of the business. Ishan International Limited has been profitably operating and dominating this sector for more than two decades, which indicates the companys long-term prospects and that of its shareholders. 

To secure an allotment in its IPO, please apply through net banking or the ASBA process. Check RHP and check with a financial adviser before making any investment-related decisions. 

Ishan International Limited IPO Allotment Status

Important Dates

Ishan International Limited IPO Details

Ishan International Limited IPO GMP (Grey Market Premium)

Ishan International Limited IPO Subscription Status Live

IPO Subscription Details (times)

Ishan International IPO Subscription Details (times)

Financial Report

Valuation – FY2022

Ishan International Limited IPO Review

Objective of the Issue

• Funding the Proposed Joint Venture and/or Acquisition.
• To meet the Working Capital requirements.
• General Corporate Purpose.

IPO Registrar

KFin Technologies Limited

Phone: 04067162222, 04079611000

Email: ishan.ipo@kfintech.com

Website: https://karisma.kfintech.com/

Peer Group

• Lokesh Machines Ltd
• Ador Fontech Ltd
• Anup Engineering Ltd
• ISGEC Heavy Engineering Ltd

Company Promoters

• Mr. Shantanu Srivastava

Company Address

Ishan International Limited

607, Chiranjiv Tower,

Nehru Place, New Delhi – 110019

Phone: +919315603745

Email: cs@ishangroup.co.in

Website: http://www.ishanglobal.com/

Ishan International Limited IPO FAQ