Nitiraj Engineering Ltd., leading manufacturers of Electronic Weighing scales and Systems and Digital fare meters. Nitiraj Engineers Ltd is planning to launch Initial Public Offering (IPO). The IPO is of Rs 22.01 crore. IPO will open on 20 February, 2017.
leading manufacturers of Electronic Weighing scales and Systems and Digital fare meters.
Nitiraj Engineers Ltd IPO is of Rs 22.01 crore.
Issue Price of Rs. 100 Per Equity Share.
Nitiraj Engineers Ltd IPO will open on 20 February, 2017.
Company own brand name, which is PHOENIX.
Nitiraj Engineers Ltd IPO Details:
Nitiraj Engineers Ltd Registration Details:
Nitiraj Engineers Ltd was established in year 1989, at the time of incorporation it was established as private limited company under companies Act, 1956. So the name of the company was Nitiraj Engineers Private Limited.
Later on the company was converted into public limited company on 8 June, 2015. Due to this change the name of the company was also changed to Nitiraj Engineers Limited.
Company got the certificate of incorporation on 22 June, 2015.
Nitiraj Engineers Ltd is a Mumbai based company.
Corporate Identity Number:
The corporate identity number (CIN) is U31909MH1999PLC119231
Nitiraj Engineers Ltd Working:
Nitiraj Engineers Ltd does the manufacturing of Electronic Weighing scales and Systems and Digital fare meters in India.
The entire production is done under the company own brand name, which is PHOENIX.
Company also offers jewelry, tabletop, price computing, piece counting, platform, hanging, industrial weighing, baby weighing, person weighing, adult weighing, body mass index, and kitchen scales; and special application indicators, currency counting machines, and taxi/rickshaw fare meters.
Company supplies entire its product under the brand name of PHOENIX in India and internationally.
Key strengths of Nitiraj Engineers Ltd:
Best Entrepreneur Award” in this District by Govt of Maharashtra in 1992.
ISO 9001 in 1998.
“Jamnalal Bajaj Uchit Vyavahar Puraskar for fair business practices”, a national level award 1998.
BIS Certificate ( ISI Mark )
DGS&D registration with Govt of India.
Model approval from Legal Metrology Department Govt of India.
Company is having one promoter. That is
Mr. Rajesh Nath Bhatwal
Nitiraj Engineers Ltd IPO objective:
There are five objective of the IPO. They are
Development of new products.
Setting up manufacturing Unit for the existing and new range of products.
Expansion of Marketing Network and Brand building.
General Corporate Purposes.
7. Nitiraj Engineers Ltd IPO Detail:
Issue Open: Feb 20, 2017 – Mar 1, 2017
Issue Type: Fixed Price Issue IPO
Issue Size: 2,200,800 Equity Shares of Rs 10 aggregating up to Rs 22.01 Cr
Face Value: Rs 10 Per Equity Share
Issue Price: Rs. 100 Per Equity Share
Market Lot: 1200 Shares
Minimum Order Quantity: 1200 Shares
Listing At: NSE SME
IPO expenses details :
Development of new products. 525.00 (Rs. in lakhs)
Setting up manufacturing Unit for the existing and new range of products. 575.00 (Rs. in lakhs)
Expansion of Marketing Network and Brand building. 500.00 (Rs. in lakhs)
General Corporate Purposes. 500.00 (Rs. in lakhs)
Issue Expenses. 100.00 (Rs. in lakhs)
Nitiraj Engineers Ltd IPO Prospectus:
Registered Address of the company:
306A Bhabha Building, N. M. Joshi Marg, Delisle Road,
Near Police Station, Mumbai – 400 011; Tel : 022-23094161
Lead manager to the Issue:
ARIHANT Capital Markets Ltd.
Lead Manager of the IPO:
Bigshare Services Private Limited
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