Shigan Quantum Technologies is engaged in the business of designing, developing, manufacturing, and assembling Alternate Fuel Systems i.e. LNG, CNG, and Hydrogen Fuel Kit Systems. Since April 2020, the business has ventured into Fire Detection & Alarm systems.
It manufactures Alternate Fuel Systems for high duty & light-duty vehicles power generation equipment, industrial equipment, and off-highway applications. It exports CNG fuel systems to countries such as New Jersey, Sweden, Canada, Australia, and Italy.
Competitive strengths
- Highly experienced managerial team.
- Standard quality standards and assurance.
- Export to overseas countries i.e. Australia, Sweden, Canada, etc.
- A strong relationship with suppliers.
Company Promoters:
Mr. Shishir Agrawal, Mr. Gagan Agrawal, Shigan Autotronics Private Limited, SA Shigan Trust and GA Shigan Trust are company promoters.
Company Financials:
| Particulars | For the year/period ended (₹ in Lakh) | |||
|---|---|---|---|---|
| 31-Aug-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 4,679.17 | 4,529.57 | 2,473.48 | 2,205.65 |
| Total Revenue | 6,439.76 | 9,602.26 | 7,278.78 | 6,908.42 |
| Profit After Tax | 289.29 | 351.34 | 292.07 | 266.07 |
Objects of the Issue:
The net proceeds from the IPO will be utilized towards the following objectives;
- Meet working capital requirements.
- To finance machinery purchase.
- General corporate purposes.
- Meet offer expenditures.
Shigan Quantum Technologies IPO Details
| IPO Opening Date | Feb 28, 2022 |
| IPO Closing Date | Mar 3, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹50 per equity share |
| Market Lot | 3000 Shares |
| Min Order Quantity | 3000 Shares |
| Listing At | NSE SME |
| Issue Size | 4,539,000 Eq Shares of ₹10 (aggregating up to ₹22.70 Cr) |
| Fresh Issue | 4,539,000 Eq Shares of ₹10 (aggregating up to ₹22.70 Cr) |
Shigan Quantum Technologies IPO Tentative Timetable
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.
| IPO Open Date | Feb 28, 2022 |
| IPO Close Date | Mar 3, 2022 |
| Basis of Allotment Date | Mar 8, 2022 |
| Initiation of Refunds | Mar 9, 2022 |
| Credit of Shares to Demat Account | Mar 10, 2022 |
| IPO Listing Date | Mar 11, 2022 |
Shigan Quantum Technologies IPO Lot Size
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).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 3000 | ₹150,000 |
| Maximum | 1 | 3000 | ₹150,000 |
Shigan Quantum Technologies IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.63% |
3rd Party IPO Application
SBI Bank, Axis Bank, Bank of Baroda (BoB), RBL Bank and IndusInd Bank. Know more…
Shigan Quantum Technologies IPO Review
The company is operating in an overcrowded and highly fragmented and competitive field. After posting static margins, it posted super earnings for 5MFY22 i.e. IPO years. Based on this data, the issue appears fully priced and based on FY21 earnings, it is highly-priced. There is no harm in ignoring this issue.
Shigan Quantum Technologies IPO Subscription Status (Bidding Detail)
The Shigan Quantum Technologies IPO is subscribed 0.00 times on Feb 28, 2022 10:22:00 AM. The public issue subscribed 0.01 times in the retail category, times in the QIB category, and 0.00 times in the NII category.
Company Contact Information
Shigan Quantum Technologies Limited
Shyam Kunj, 183-A, Sainik Farms,
Western Avenue, New Delhi-110062
Phone: +91-9818162569
Email: cs@shigan.net
Website: http://www.shigan-quantum.com/
Shigan Quantum Technologies IPO Registrar
KFintech Private Limited
Phone: 04067162222, 04079611000
Email: shigan.ipo@kfintech.com
Website: https://karisma.kfintech.com/