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Aureate Tradde Ltd IPO
Status: Closed
Overview
IPO date
29 May 2026 to 02 Jun 2026
Face value
₹ 10 per share
Price
₹ 70 to ₹70 per share
Issue Size
3,898,000 shares
(aggregating up to ₹ 27.29 Cr)
(aggregating up to ₹ 27.29 Cr)
Allotment Date
03 Jun 2026
Listing at
NSE
Issue type
Fixed Price - SME
Sector
Trading
Unlock Stock of the Month
T&C*
Strengths vs Risks of Aureate Tradde Ltd
Know the pros & cons
Strengths
- Diversified products.
- Established relationship with suppliers and customers.
- Adaptability and flexibility.
- Experienced management.
Risks
- The company derives its revenue from trading of polymers, Lithium-ion and Sodium-ion Cells and Electric Vehicle Chargers for which the company is dependent on certain suppliers for its operations and an increase in the cost of, or a shortfall in the availability or quality of such products could has an adverse effect on its business, financial condition and results of operations.
- Termination or non-renewal of the distribution agreements by Jiangsu Highstar Battery Manufacturing Co., Ltd. or any material modification to the existing terms under such agreements adverse to the company interest will materially and adversely affect its ability to continue the company business and operations and its futures financial performance.
- There is certain discrepancies and non-compliances noticed in some of the company financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities.
- The Company has delayed in complying with certain statutory filings with Registrar of Companies, Mumbai. Such delayed compliance /lapses may attract certain penalties
- If the company commit any default in payment of monthly instalment of borrowings availed or to be availed by the Company for its business purpose, the company business, results of operations and financial condition may be adversely affected.
- The company derives its revenue from the domestic market and substantial portion of revenue from the north region of India and Maharasthra. Any adverse developments affecting the company operations in Northern region and Maharashtra could has an adverse impact on the company revenue and results of operations.
- The Company had negative cash flows in the past years, details of which is given below. Sustained negative cash flow could impact its growth and business.
- A dispute has been raised by Jinlian (Hong Kong) Trading Limited (Supplier) against the Company in relation to supply of goods, and any adverse outcome in relation thereto may affect its business operations, reputation and financial condition.
- There is an increased awareness towards controlling plastic pollution and many economies including India has joined in the efforts to ban certain types of plastic products. In case any key plastic material traded by its or end-use consumer product that is packaged using raw material of the company supplier is banned in India, it could has a material and adverse effect on the company business, financial condition, cash flows and results of operations.
- The company warehouse facility is currently operating under an extended arrangement following expiry of the rent agreement, and inability to secure an alternate premises may materially and adversely affect its business operations.
- Prices fluctuate every day in line with market changes. However, during periods of sharp price increases, there may be a lag before these adjustments take effect, which could negatively impact its profitability in the interim duration. This exposure to price volatility may result in reduced margins and affect the company short-term financial performance.
- Restrictions on import may adversely impact the company business, cash flows and results of operations.
- There is certain outstanding legal proceeding involving Company and its Promoter which may adversely affect the company business, financial condition and results of operations.
- Any disruption at the ports in western region of India may adversely affect the company business and operational performance.
- Inventories and trade receivables form a major part of the company current assets. Failures to manage its inventory and trade receivables could has an adverse effect on the company sales, profitability, cash flow and liquidity.
- Th company product polymers contributes significantly to its revenues from operation. Any loss of business from such product may adversely affect the company revenues and profitability.
- The company requires working capital for its smooth day-to-day operations of business and any discontinuance or the company inability to acquire adequate working capital timely and on favourable terms may has an adverse effect on its operations, profitability and growth prospects.
- The company does not own some of the premises from where its operates. The company registered office and warehouses is not owned by its and are taken on rental basis. If the company is unable to renew existing rental agreements or relocate its operations on commercially reasonable terms, there may be a material adverse effect on the company business, financial condition, results of operations and cash flows could be adversely affected.
- The Company is subject to foreign exchange control regulations which can pose a risk of currency fluctuation.
- The Company and certain of its Directors has been subject to proceedings before the Hon'ble National Company Law Tribunal ("NCLT") in connection with compounding application filed by the Company for violation of Section 185 of the Companies Act, 2013, which may result in monetary penalties and could adversely affect its financial condition and reputation.
- The company does not has long-term agreements for the sale of its products with a majority of the company customers. If its customers choose not to source their requirements from the company, or its is unable to procure new orders on a regular basis or at all, this may adversely affect the company business, financial condition, results of operations and cash flows.
- As on March 31, 2025, the company had contingent liabilities which has not been provided for in its financial statements and could adversely affect the company financial condition.
- The polymer trading business operates on a high-volume, low-margin model, where price competitiveness is crucial for retaining key customers. Pricing pressure from customers may adversely affect the company gross margin, profitability and ability to increase its prices.
- The company Promoters and Directors has extended mortgage over their properties along with personal guarantees with respect to various loan facilities availed by its Company. Revocation of any or all of these personal guarantees may adversely affect the company business operations and financial condition.
- Improper storage, processing and handling of the company products could damage its inventories and, as a result, has an adverse effect on the company business, results of operations and cash flows.
- The company success largely depends upon the knowledge and experience of its Promoters, Directors, the company Key Managerial Personnel and Senior Management as well as its ability to attract and retain them. Any loss of the company Promoters, Directors, Key Managerial Personnel, Senior Management or its ability to attract and retain them could adversely affect the company business, financial condition and results of operations.
- The Company is not having any exact comparable Indian peer which have similar business to its Company.
- Any inability on supplier part to maintain quality standards could adversely impact the company business, results of operations and financial condition.
- If the company is unable to source business opportunities effectively, its may not achieve the company financial objectives.
- The company customers could delay taking supply after placing order, modify their order, cancel their order or not pay in full or part for their order, which may has an adverse effect on the company business, financial condition and results of operations.
- The company inability to collect receivables and default in payment from its customers could result in the reduction of the company profits and affect its cash flows.
- The company inability to identify customer demand accurately and maintain an optimal level of inventory could adversely affect its business, financial condition, cash flows and results of operations.
- The company is dependent on third party transportation providers for the supply of products. Accordingly, continuing increases in transportation costs or unavailability of transportation services for them, as well the extent and reliability of Indian infrastructure may has an adverse effect on its business, financial condition, results of operations and prospects.
- The Company's customers operates in various industry segments/verticals and fluctuations in the performance of the industries in which the customers operates may result in a loss of customers, a decrease in the volume of work undertake or the price at which the company offer its products.
- The company insurance coverage may not adequately protect its against all material hazards, which may adversely affect the company business, results of operations and financial condition.
- The company operates in a highly competitive industry. Any inability to compete effectively may lead to a lower market share or reduced operating margins.
- The company has issued Equity Shares at prices that may be lower than the Issue Price in the last 12 months.
- The average cost of acquisition of Equity Shares by the company Promoters could be lower than the Offer price.
- The company financing agreements contain covenants that limit its flexibility in operating the company business. Its inability to meet the company obligations, including financial and other covenants under its debt financing arrangements could adversely affect the company business, results of operations and financial condition.
- Any IT system failures or lapses on part of any of the company employees may lead to operational interruption, liabilities or reputational harm.
- Unsecured loans taken by the company can be recalled at any time.
- The company faces competition in its business from organized and unorganized players, which may adversely affect the company business operations and financial condition.
- The company inability to effectively manage its growth or to successfully implement the company business plan and growth strategies could has an adverse effect on the company business, results of operations and financial condition.
- If the company is subject to any fraud, theft, or embezzlement by its employees or job workers, it could adversely affect the company reputation, results of operations and financial condition. Its could be harmed by employee misconduct or errors that is difficult to detect and any such incidences could adversely affect the company financial condition, results of operations and reputation.
- Any failures or significant weakness of the company internal controls system could cause operational errors or incidents of fraud, which would adversely affect its profitability and reputation.
- The determination of the Issue Price is based on various factors and assumptions and the Issue Price of the Equity Shares may not be indicative of the market price of the Equity Shares after the Issue.
- Any inability to address changing industry standards and consumer trends may adversely affect the company business, results of operations and financial condition.
- The company funding requirements and the proposed deployment of Net Proceeds is not appraised by any independent agency, which may affect its business and results of operations.
- There may be potential conflicts of interest if the company Promoters or Directors get involved in any business activities that compete with or is in the same line of activity as its business operations.
- The company success largely depends upon the knowledge and experience of its Promoters, Directors, the company Key Managerial Personnel and Senior Management as well as its ability to attract and retain personnel with technical expertise. Any loss of the company Promoter, Directors, Key Managerial Personnel, Senior Management or its ability to attract and retain them and other personnel with technical expertise could adversely affect the company business, financial condition and results of operations.
- In addition to normal remuneration or benefits and reimbursement of expenses, some of the company directors and key managerial personnel are interested to the extent of their shareholding and dividend entitlement, if any in its Company.
- The company may not be successful in implementing its business strategies.
- None of the company Directors and KMPs possess experience of being on the board of any listed company.
- The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further the company has not identified any alternate source of financing the `Objects of the Issue'.
- There is no monitoring agency appointed by the Company and the deployment of funds are at the discretion of its Management and the company Board of Directors, though it shall be monitored by the Audit Committee.
- Any variation in the utilization of the Net Proceeds as disclosed in this Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
- The requirements of being a public listed company may strain its resources and impose additional requirements.
- The company ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company financing arrangements.
- Certain key performance indicators for certain listed industry peers included in this Prospectus has been sourced from public sources and there is no assurance that such financial and other industry information is complete.
- The company cannot guarantee the accuracy or completeness of facts and other statistics with respect to India, the Indian economy and industry in which its operates contained in the Prospectus.
- The Company may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect the trading price of the Equity Shares.
Aureate Tradde Ltd Peer Comparison
Understand the company’s industry standing
Aureate Tradde Limited
Bhavik Enterprises Limited
Face Value
10
10
Standalone / Consolidated
Standalone
Standalone
Total Income Rs. Cr.
174.41
527.27
EPS-Basis
2.83
3.58
EPS-Diluted
---
---
NAV Per Share
1361.91
61.62
P/E-Basic EPS
24.73
43.85
P/E-Diluted EPS
---
---
RONW(%)
21.88
5.97
Latest NAV Period
---
---
Latest NAV
---
---
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The IPO opens on 29 May 2026 & closes on 02 Jun 2026.
Aureate Tradde Limited was originally incorporated as a Private Limited Company under the name of 'MM9 Polytrade Private Limited' dated August 03, 2018. Subsequently, the name of the Company was changed to 'Aureate Tradde Private Limited' vide fresh Certificate of Incorporation issued by RoC Mumbai dated July 14, 2023. Further, Company was converted into a Public Limited, and its name was changed from 'Aureate Tradde Private Limited' to 'Aureate Tradde Limited' obtained from the Central Processing Centre dated April 22, 2025.
Company is engaged in trading, distribution, and supply of industrial and technological materials across three key business verticals: Polymers and Petrochemicals; Lithium-ion and Sodium-ion Cells, and; Electric Vehicle Chargers. Product portfolio comprises essential materials for key industries such as polymers and petro chemicals, electric mobility. These materials are vital for the production or manufacturing of plastic goods, electric vehicle (EV) components, and E-mobility infrastructure.
Company expanded the offerings to include sodium-ion cells- an emerging next generation technology that provides faster charging, enhanced safety, and improved thermal performance compared to conventional lithium-ion batteries. At present, Company is involved in domestic B2B market for trading and distribution of polymer, petrochemicals, Lithium-ion cells and Sodium-ion cells. Additionally, it operate in B2C segment for trading and distribution of EV Chargers. These products are imported through Indian ports including Mundra Port, Nhava Sheva Port and ICD Dadri Port and subsequently it store the same at the warehouses and depots and thereafter, sell them to manufacturers of finished plastic products, Companies engaged in EV sector and directly to Customers.
Company has filed a Draft Prospectus with SEBI and is planning the issuance of 38,98,000 equity shares of Rs 10 each through fresh issue.
Aureate Tradde Ltd IPO will close on 02 Jun 2026.
- Diversified products.
- Established relationship with suppliers and customers.
- Adaptability and flexibility.
- Experienced management.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Kalash Kevin Shah | 7995984 | 87.99 | 7995984 | 61.58 |
| 2 | Punit Devendrabhai Shah | 239000 | 2.63 | 239000 | 1.84 |
| 3 | Maya Raj Shah | 157740 | 1.74 | 157740 | 1.21 |
- The company derives its revenue from trading of polymers, Lithium-ion and Sodium-ion Cells and Electric Vehicle Chargers for which the company is dependent on certain suppliers for its operations and an increase in the cost of, or a shortfall in the availability or quality of such products could has an adverse effect on its business, financial condition and results of operations.
- Termination or non-renewal of the distribution agreements by Jiangsu Highstar Battery Manufacturing Co., Ltd. or any material modification to the existing terms under such agreements adverse to the company interest will materially and adversely affect its ability to continue the company business and operations and its futures financial performance.
- There is certain discrepancies and non-compliances noticed in some of the company financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities.
- The Company has delayed in complying with certain statutory filings with Registrar of Companies, Mumbai. Such delayed compliance /lapses may attract certain penalties
- If the company commit any default in payment of monthly instalment of borrowings availed or to be availed by the Company for its business purpose, the company business, results of operations and financial condition may be adversely affected.
- The company derives its revenue from the domestic market and substantial portion of revenue from the north region of India and Maharasthra. Any adverse developments affecting the company operations in Northern region and Maharashtra could has an adverse impact on the company revenue and results of operations.
- The Company had negative cash flows in the past years, details of which is given below. Sustained negative cash flow could impact its growth and business.
- A dispute has been raised by Jinlian (Hong Kong) Trading Limited (Supplier) against the Company in relation to supply of goods, and any adverse outcome in relation thereto may affect its business operations, reputation and financial condition.
- There is an increased awareness towards controlling plastic pollution and many economies including India has joined in the efforts to ban certain types of plastic products. In case any key plastic material traded by its or end-use consumer product that is packaged using raw material of the company supplier is banned in India, it could has a material and adverse effect on the company business, financial condition, cash flows and results of operations.
- The company warehouse facility is currently operating under an extended arrangement following expiry of the rent agreement, and inability to secure an alternate premises may materially and adversely affect its business operations.
- Prices fluctuate every day in line with market changes. However, during periods of sharp price increases, there may be a lag before these adjustments take effect, which could negatively impact its profitability in the interim duration. This exposure to price volatility may result in reduced margins and affect the company short-term financial performance.
- Restrictions on import may adversely impact the company business, cash flows and results of operations.
- There is certain outstanding legal proceeding involving Company and its Promoter which may adversely affect the company business, financial condition and results of operations.
- Any disruption at the ports in western region of India may adversely affect the company business and operational performance.
- Inventories and trade receivables form a major part of the company current assets. Failures to manage its inventory and trade receivables could has an adverse effect on the company sales, profitability, cash flow and liquidity.
- Th company product polymers contributes significantly to its revenues from operation. Any loss of business from such product may adversely affect the company revenues and profitability.
- The company requires working capital for its smooth day-to-day operations of business and any discontinuance or the company inability to acquire adequate working capital timely and on favourable terms may has an adverse effect on its operations, profitability and growth prospects.
- The company does not own some of the premises from where its operates. The company registered office and warehouses is not owned by its and are taken on rental basis. If the company is unable to renew existing rental agreements or relocate its operations on commercially reasonable terms, there may be a material adverse effect on the company business, financial condition, results of operations and cash flows could be adversely affected.
- The Company is subject to foreign exchange control regulations which can pose a risk of currency fluctuation.
- The Company and certain of its Directors has been subject to proceedings before the Hon'ble National Company Law Tribunal ("NCLT") in connection with compounding application filed by the Company for violation of Section 185 of the Companies Act, 2013, which may result in monetary penalties and could adversely affect its financial condition and reputation.
- The company does not has long-term agreements for the sale of its products with a majority of the company customers. If its customers choose not to source their requirements from the company, or its is unable to procure new orders on a regular basis or at all, this may adversely affect the company business, financial condition, results of operations and cash flows.
- As on March 31, 2025, the company had contingent liabilities which has not been provided for in its financial statements and could adversely affect the company financial condition.
- The polymer trading business operates on a high-volume, low-margin model, where price competitiveness is crucial for retaining key customers. Pricing pressure from customers may adversely affect the company gross margin, profitability and ability to increase its prices.
- The company Promoters and Directors has extended mortgage over their properties along with personal guarantees with respect to various loan facilities availed by its Company. Revocation of any or all of these personal guarantees may adversely affect the company business operations and financial condition.
- Improper storage, processing and handling of the company products could damage its inventories and, as a result, has an adverse effect on the company business, results of operations and cash flows.
- The company success largely depends upon the knowledge and experience of its Promoters, Directors, the company Key Managerial Personnel and Senior Management as well as its ability to attract and retain them. Any loss of the company Promoters, Directors, Key Managerial Personnel, Senior Management or its ability to attract and retain them could adversely affect the company business, financial condition and results of operations.
- The Company is not having any exact comparable Indian peer which have similar business to its Company.
- Any inability on supplier part to maintain quality standards could adversely impact the company business, results of operations and financial condition.
- If the company is unable to source business opportunities effectively, its may not achieve the company financial objectives.
- The company customers could delay taking supply after placing order, modify their order, cancel their order or not pay in full or part for their order, which may has an adverse effect on the company business, financial condition and results of operations.
- The company inability to collect receivables and default in payment from its customers could result in the reduction of the company profits and affect its cash flows.
- The company inability to identify customer demand accurately and maintain an optimal level of inventory could adversely affect its business, financial condition, cash flows and results of operations.
- The company is dependent on third party transportation providers for the supply of products. Accordingly, continuing increases in transportation costs or unavailability of transportation services for them, as well the extent and reliability of Indian infrastructure may has an adverse effect on its business, financial condition, results of operations and prospects.
- The Company's customers operates in various industry segments/verticals and fluctuations in the performance of the industries in which the customers operates may result in a loss of customers, a decrease in the volume of work undertake or the price at which the company offer its products.
- The company insurance coverage may not adequately protect its against all material hazards, which may adversely affect the company business, results of operations and financial condition.
- The company operates in a highly competitive industry. Any inability to compete effectively may lead to a lower market share or reduced operating margins.
- The company has issued Equity Shares at prices that may be lower than the Issue Price in the last 12 months.
- The average cost of acquisition of Equity Shares by the company Promoters could be lower than the Offer price.
- The company financing agreements contain covenants that limit its flexibility in operating the company business. Its inability to meet the company obligations, including financial and other covenants under its debt financing arrangements could adversely affect the company business, results of operations and financial condition.
- Any IT system failures or lapses on part of any of the company employees may lead to operational interruption, liabilities or reputational harm.
- Unsecured loans taken by the company can be recalled at any time.
- The company faces competition in its business from organized and unorganized players, which may adversely affect the company business operations and financial condition.
- The company inability to effectively manage its growth or to successfully implement the company business plan and growth strategies could has an adverse effect on the company business, results of operations and financial condition.
- If the company is subject to any fraud, theft, or embezzlement by its employees or job workers, it could adversely affect the company reputation, results of operations and financial condition. Its could be harmed by employee misconduct or errors that is difficult to detect and any such incidences could adversely affect the company financial condition, results of operations and reputation.
- Any failures or significant weakness of the company internal controls system could cause operational errors or incidents of fraud, which would adversely affect its profitability and reputation.
- The determination of the Issue Price is based on various factors and assumptions and the Issue Price of the Equity Shares may not be indicative of the market price of the Equity Shares after the Issue.
- Any inability to address changing industry standards and consumer trends may adversely affect the company business, results of operations and financial condition.
- The company funding requirements and the proposed deployment of Net Proceeds is not appraised by any independent agency, which may affect its business and results of operations.
- There may be potential conflicts of interest if the company Promoters or Directors get involved in any business activities that compete with or is in the same line of activity as its business operations.
- The company success largely depends upon the knowledge and experience of its Promoters, Directors, the company Key Managerial Personnel and Senior Management as well as its ability to attract and retain personnel with technical expertise. Any loss of the company Promoter, Directors, Key Managerial Personnel, Senior Management or its ability to attract and retain them and other personnel with technical expertise could adversely affect the company business, financial condition and results of operations.
- In addition to normal remuneration or benefits and reimbursement of expenses, some of the company directors and key managerial personnel are interested to the extent of their shareholding and dividend entitlement, if any in its Company.
- The company may not be successful in implementing its business strategies.
- None of the company Directors and KMPs possess experience of being on the board of any listed company.
- The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further the company has not identified any alternate source of financing the `Objects of the Issue'.
- There is no monitoring agency appointed by the Company and the deployment of funds are at the discretion of its Management and the company Board of Directors, though it shall be monitored by the Audit Committee.
- Any variation in the utilization of the Net Proceeds as disclosed in this Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
- The requirements of being a public listed company may strain its resources and impose additional requirements.
- The company ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company financing arrangements.
- Certain key performance indicators for certain listed industry peers included in this Prospectus has been sourced from public sources and there is no assurance that such financial and other industry information is complete.
- The company cannot guarantee the accuracy or completeness of facts and other statistics with respect to India, the Indian economy and industry in which its operates contained in the Prospectus.
- The Company may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect the trading price of the Equity Shares.
The Issue type of Aureate Tradde Ltd is Fixed Price - SME.
The minimum application for shares of Aureate Tradde Ltd is 4000.
The total shares issue of Aureate Tradde Ltd is 3898000.
Initial public issue of upto 38,98,000 equity shares of face value of Rs.10/- each of Aureate Tradde Limited ("ATL" or the "Company" or the "Issuer") for cash at a price of Rs. 70 per equity share including a share premium of Rs. 60 per equity share (the "Issue Price") aggregating to Rs. 27.29 Crores ("the Issue"), comprising of fresh issue of 38,98,000 equity shares aggregating to Rs. 27.29 Crores (the " Fresh Issue"), out of which upto 1,96,000 equity shares of face value of Rs.10/- each for cash at a price of Rs. 70 per equity share including a share premium of Rs. 60 per equity share aggregating to Rs. 1.37 Crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The public issue less the market maker reservation portion i.e. Net issue of 37,02,000 equity shares of face value of Rs.10/- each at an issue price of Rs. 70 per equity share including a share premium of Rs. 60 per equity share aggregating to Rs. 25.91 Crores is herein after referred to as the "Net Issue". The public issue and the net issue will constitute 30.02% and 28.51% respectively of the post issue paid up equity share capital of the company.
The face value of the equity shares is Rs. 10/- each and the issue price is 7.00 times of the face value.
Fixed price issue at Rs. 70/- per equity share.
Minimum application size of 4,000 equity shares and in multiples of 2,000 equity shares thereafter.