Esprit Stones Limited
IPO Details
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₹33(37.93%)
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Esprit Stones Limited's has transitioned to a publicly listed entity following its IPO debut on Aug 02, 2024 at the NSE exchange. The public offering successfully raised 57,95,200 Shares, consisting of 57,95,200 Sharesin new capital.
The IPO featured a competitive price range of ₹82 to ₹87 and minimum application size of 1600 shares. Market reception was evidenced through subscription activity between Jul 26, 2024 and Jul 30, 2024, reflecting investor appetite for the offering.
Allotment of shares was completed on Jul 31, 2024, distributing equity to successful applicants. The listing marked the beginning of the company's journey as a publicly traded corporation, subject to market dynamics and regulatory oversight.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Founded in 2016, Esprit Stones Limited specializes in manufacturing engineered quartz and marble surfaces. As of March 2024, the company operates Manufacturing Facility I with three pressing lines and two polishing lines, achieving an annual production capacity of around 72 lakh sq. ft. It also runs Manufacturing Facility II for producing quartz grit and quartz powder, key raw materials used in engineered quartz, along with a third facility dedicated to manufacturing unsaturated polyester resin. Backed by certifications such as ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, and Green Guard, Esprit Stones maintains strong quality and sustainability standards. As of May 31, 2024, the company employs 295 people across various departments.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Market Leader: Esprit Stones Limited is one of the top players in the Indian engineered stone market, known for its strong presence and trusted reputation.
- Focus on Quality & Innovation: The company always puts quality first, using strict quality checks for both raw materials and final products to maintain high standards and constantly improve.
- In-House Manufacturing: Esprit Stones Limited makes both engineered quartz surfaces and key raw materials like quartz grit and polyester resin, helping them rely less on outside suppliers and maintain better control over quality and production.
- Geographical Concentration: The company's manufacturing units are mainly located in Udaipur, Rajasthan. If there is any disruption, breakdown, or closure at these facilities, it could seriously affect the company's business, operations, profits, and cash flow.
- Dependency on Leased Premises: The company operates some of its key locations, like the registered office, branch office, and storage facilities, on rented properties. This could create risks if the leases are not renewed, rental costs go up, or if the company needs to relocate.
- Customer Concentration: A large part of the company's revenue comes from a small group of customers. This makes the business dependent on these customers and vulnerable to any changes in their buying patterns, financial health, or business relationships.
- Sunilkumar Lunawath
- Nitin Gattani
- Pradeepkumar Lunawath
- Sangeeta Gattani
- Anushree Lunawath
- Siddhanth Lunawath
Esprit Stones Limited
Link Intime India Private Limited