Shining Tools Ltd IPO
Status: Closed
Overview
IPO date
07 Nov 2025 to 11 Nov 2025
Face value
₹ 10 per share
Price
₹ 114 to ₹114 per share
Issue Size
1,500,000 shares
(aggregating up to ₹ 17.1 Cr)
(aggregating up to ₹ 17.1 Cr)
Allotment Date
12 Nov 2025
Listing at
NSE
Issue type
Fixed Price - SME
Sector
Capital Goods-Non Electrical Equipment
Objectives of Shining Tools Ltd IPO
Shining Tools Ltd IPO Strategy
About Shining Tools Ltd
Unlock Stock of the Month
T&C*
Strengths vs Risks of Shining Tools Ltd
Know the pros & cons
Strengths
Efficiency through Machine-Based Manufacturing Tools.- Tailored Solutions to customers by Offering Customized Tools.
- Wide and diverse range of product offerings.
- Experienced management and technical expertise of employees.
- Strategic Location.
- Quality Assurance.
- Good relationship with clients.
- Good relationship with our raw material suppliers and other vendors.
Risks
- Our manufacturing facility and our registered office is situated at Survey no. 63/2, Plot No. 2, Rajkot, Gondal
Highway, Pipaliya, Gondal, Rajkot-360311, Gujarat, India resulting in concentration in a single region. Any
interruption for a significant period of time, in these facilities may in turn adversely affect our business, financial
condition and results of operations.
- We have only one Manufacturing Facility, continued operations of our manufacturing facility is critical to our
business and any disruption in the operation of our manufacturing facility may have a material adverse effect on
our business, results of operations and financial condition.
- Our historical revenues have been largely dependent on few customers and our inability to maintain such
business may have an adverse effect on our results of operations.
- Our results of operations and cash flows could be adversely affected, if we are unable to collect our dues and
receivables from, or invoice our unbilled services to, our clients.
- Majority portion of our domestic sales are derived from the western zone and any adverse developments in this
market could adversely affect our business.
- Statutory records, including filings with the Registrar of Companies, are presently untraceable, particularly with
respect to documentation evidencing one instance of historical share allotment.
- Our Company may incur penalties or liabilities for non-compliance with certain provisions of the GST Act,
Income Tax, and other applicable laws in previous years.
- Volatility in the supply and pricing of our raw materials, or failure by suppliers to meet their obligations, may have
an adverse effect on our business, cash flows, financial condition, and results of operations.
- The Restated Financial Statements have been provided by Peer Reviewed Auditor who is not Statutory Auditor of our
Company for the Financial Year ended March 31st 2023 and March 31st 2022.
- There are certain discrepancies/errors noticed in some of our corporate records relating to forms filed with the
Registrar of Companies and other provisions of Companies Act, 2013 during the last five years. Any penalty or action
taken by any regulatory authorizes in future for noncompliance with provisions of corporate and other law could
impact the financial position of the Company to that extent.
- Non-Compliance with Section 185 of the Companies Act, 2013, may result in regulatory penalties and adverse
implications.
- We have had negative cash flows in the past. Sustained negative cash flow could adversely impact our business,
financial condition, and results of operations.
- We have not yet placed orders in relation to the plant and machineries to be purchased for the existing
manufacturing unit. In the event of any delay in placing the orders, or in the event the vendors are not able to
provide the plant and machineries in a timely manner, or at all, the same may result in time and cost over-runs.
- We are subject to strict quality requirements and are consequently required to incur significant expenses to
maintain our product quality. Any failure to comply with such quality standards may lead to cancellation of
existing and future orders which may adversely affect our reputation, financial conditions, cash flows and results
of operations.
- Our Company has acquired certain machineries from related parties, and such transactions may involve
potential conflicts of interest. Acquisition of machinery from related parties may result in conflicts of interes and
regulatory scrutiny.
- We require certain approvals and licenses in the ordinary course of business and are required to comply with
certain rules and regulations to operate our business, any failure to obtain, retain and renew such approvals and
licences or comply with such rules and regulations may adversely affect our operations.
- Our inability to accurately forecast demand for our products, and accordingly manage our inventory, may have
an adverse effect on our business, cash flows, financial condition, and results of operations. Forecasting errors
and inventory mismanagement may adversely impact operations and working capital.
- Our proposed capacity expansion plans relating to our manufacturing facility are subject to the risk of
unanticipated delays in implementation and cost overruns.
- Under-utilization of our manufacturing capacities and an inability to effectively utilize our expanded
manufacturing capacities could have an adverse effect on our business, future prospects and future financial
performance.
- Our business operations are majorly concentrated in certain geographical regions and any adverse developments
affecting our operations in these regions could have a significant impact on our revenue and results of
operations.
- We propose to utilize a significant portion of the Net Proceeds for capital expenditure, including purchase of
machineries from a vendor with whom we have no prior business relationship, which may pose operational
and performance-related risks.
- We are subject to competition from both organized and unorganized players in the market, which may
significantly affect the fixation and realization of the price for our product, which may adversely affect our
business operation and financial condition.
- We intend to utilize a portion of the Net Proceeds for funding our capital expenditure requirements. We are yet to
place orders for such capital expenditure machinery.
- Our insurance coverage may not adequately protect us against certain operating risks and this may have an
adverse effect on the results of our business.
- Low entry barrier of the business and ability to retain customer and acquire new customers in the face of huge
competition.
- We are subject to risks associated with expansion into new markets.
- Our proposed capacity expansion plans relating to our manufacturing facility are subject to the risk of
unanticipated delays in implementation and cost overruns.
- We are heavily dependent on our Promoter and Key Managerial Personnel for the continued success of our
business through their continuing services and strategic guidance and support.
- We have incurred losses in the past and may continue to do so in the future.
- Our Promoters, Directors and Key Management Personnel have interest in our Company, other than
reimbursement of expenses incurred or remuneration.
- Any variation in the utilization of the Net Proceeds would be subject to certain compliance requirements,
including prior shareholders' approval.
- We have entered-into and may continue to enter-into related party transactions and there can be no assurance
that such transactions have been on favorable terms.
- Significant Dependence on Trade Receivables and Inventories may impact our profitability, Cash Flow and
Liquidity.
- Failure to effectively manage labour or failure to ensure availability of sufficient labour could affect the business
operations of the Company.
- Relevant copies of educational qualification of our promoters are not traceable.
- We are subject to the restrictive covenants of banks in respect of the Loans/ Credit Limits and other banking
facilities availed from them.
- Information relating to our production capacities and the historical capacity utilization of our production
facilities included in this Prospectus is based on certain assumptions and has been subjected to rounding off, and
future production and capacity utilization may vary.
- If we are unable to source business opportunities effectively, we may not achieve our financial objectives.
- If we fail to maintain and enhance our brand and reputation, our clients' recognition of, and trust in us, and our
business may be materially and adversely affected.
- Changes in technology may render our current technologies obsolete or require us to make substantial
investments.
- Our success largely depends upon the knowledge and experience of our Promoters, Directors, our Key
Managerial Personnel and Senior Management as well as our ability to attract and retain personnel with
technical expertise. Any loss of our Promoter, Directors, Key Managerial Personnel, Senior Management, or our
ability to attract and retain them and other personnel with technical expertise could adversely affect our business,
financial condition, and results of operations.
- Our Promoters, Directors and Key Management Personnel have interest in our Company, other than
reimbursement of expenses incurred or remuneration.
- Our Company is dependent on third party transportation providers for the delivery of our input materials and
products and any disruption in their operations or a decrease in the quality of their services could affect our
Company's reputation and results of operations.
- We have taken guarantees from Promoters in relation to debt facilities provided to us.
- Our lenders have charge over our movable and immovable properties in respect of finance availed by us.
- Our Company has unsecured loans which are repayable on demand. Any demand loan from lenders for
repayment of such unsecured loans, may adversely affect our cash flows.
- We have substantial working capital expenditure and may require additional financing to meet those
requirements and have risk of receivables, which could have an adverse effect on our results of operations and
financial condition.
- We could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could
adversely affect our financial condition, results of operations and reputation.
- Changes in customer preferences could affect our business, financial condition, results of operations and
prospects.
- Negative publicity could adversely affect our revenue model and profitability of our Company.
- Fraud, theft, employee negligence or similar incidents may adversely affect our results of operations and
financial condition.
- The average cost of acquisition of Equity Shares by our Promoter may be less than the Issue Price.
- We have not made any dividend payments in the past and our ability to pay dividends in the future will depend
upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and
restrictive covenants in our financing arrangements.
- Our inability to manage growth could disrupt our business and reduce profitability. Our business strategy is to
continuously grow by expanding the size and geographical scope of our businesses.
- Cyber risk and the failures to maintain the integrity of its operational or security systems or infrastructure, or
those of the company customers or other third parties with which its conduct business, could have a material adverse
effect on the company business, results of operations, financial condition, cash flows and future prospects. Cyber threats
are evolving and are becoming increasingly sophisticated.
- Its promoters and promoter group will continue to retain significant control over the Company after the IPO.
- Management has no experience in managing IPO and listing process and its related compliance thereafter the
listing process can drain resources.
- The Company has allotted Equity Shares during the preceding one year from the date of the Prospectus which
are lower than the Issue Price.
- There are no listed companies in India that are engaged in a diverse business segment in which its operates or of
a comparable size to that of the Company hence not possible to compare its performance.
- 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.
- Delay in raising funds from the IPO could adversely impacts the implementation schedule.
- The Objects of the Issue for which funds are being raised, are based on its management estimates and any bank
or financial institution or any independent agency has not appraised the same. The deployment of funds in the
project is entirely at the company discretion, based on the parameters as mentioned in the chapter titles "Objects of the
Issue".
- Misuse of the company brand tixna or any Negative publicity could adversely affect its revenue model and
profitability of the Company.
- The company has not independently verified certain data in this Prospectus.
- Any future issue of Equity Shares may dilute your shareholding and sales of its Equity Shares by the company Promoters
or other major shareholders may adversely affect the trading price of the Equity Shares.
- You may be subject to Indian taxes arising out of capital gains on the sale of its Equity Shares.
- The company has experienced significant growth in its PAT, there is no assurance that the company will be able to sustain this
rate of growth in the futures.
- Its Promoters or Directors may have interests, either directly or indirectly, in ventures involved in a business
similar to it, which may result in a real or potential conflict of interest.
- The Company may requires additional capital resources to achieve its expansion plans.
- The auditor's report on its Restated Financial Statements highlights certain matters relating to the Companies
(Auditors' Report) Order, 2020.
Shining Tools Ltd Peer Comparison
Understand the company’s industry standing
Shining Tools Ltd
Birla Precisions Technologies Limited
Face Value
10
2
Standalone / Consolidated
Standalone
Standalone
Total Income Rs. Cr.
14.769
209.5104
EPS-Basis
7.17
0.82
EPS-Diluted
7.17
0.82
NAV Per Share
19.25
24.08
P/E-Basic EPS
15.90
56.37
P/E-Diluted EPS
---
---
RONW(%)
---
---
Latest NAV Period
---
---
Latest NAV
---
---
How to check the allotment status of Shining Tools Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
IPO reads
Stay updated with the latest IPO developments
February 27, 2025 | 5 min read
₹50.11 Cr Balaji Phosphates IPO Opens Feb 28. Issue Details and SWOT Analysis
February 25, 2025 | 5 min read
Tata Capital Board Approves ₹15,000 Cr Plus Mega IPO; Tata Investment Shares Soar 8%
February 18, 2025 | 5 min read
Busy Week Ahead: 2 SME IPOs and 9 Market Listings – Get the Complete Details Here
October 25, 2024 | 5 min read
Waaree Energies IPO: GMP Soars 106% Amid 76.34x Subscription – Check Your Allotment Status!
October 22, 2024 | 5 min read
Upcoming IPOs: 9 Public Issues Set to Raise ₹10,984.8 Cr – Key Insights Inside!
October 17, 2024 | 5 min read
Hyundai IPO Hits a Speed Bump With 42% Subscription On Day 2 : 4 Reasons Why
September 6, 2024 | 5 min read
Bajaj Housing Finance IPO: All You Need to KnowOctober 17, 2024 | 5 min read
Hyundai IPO Hits a Speed Bump With 42% Subscription On Day 2 : 4 Reasons Why
August 26, 2024 | 5 min read
Premier Energies IPO: Key Details Ahead of the ₹2,830.40 Cr Issue LaunchMore on IPOs
Navigate your way to other IPO resources
Latest videos on IPOs
IPO highlights & details!
FAQs on IPO
Get answers to all your questions here!
The IPO opens on 07 Nov 2025 & closes on 11 Nov 2025.
Shining Tools Limited was originally incorporated as a Public Limited Company in May, 2013 with the Registrar of Companies, Gujarat. The Company commenced the production of Solid Carbide Tools in Rajkot District of Gujarat in 2013 and launched the product under the brand 'TIXNA'.
At present, Company is engaged in the designing and manufacturing of high-performance solid carbide cutting tools catering to various industries in India. Additionally, it provide reconditioning services for used tools, ensuring their extended usability and performance. It specialize in producing a wide range of high-performance cutting tools, including end mills, thread mills, drills, and reamers, offering innovative tooling solutions. These tools are widely used in commercial metal cutting operations across multiple industries. These cutting tools are designed for use on CNC machines such as Horizontal Machining Centres (HMCs), Vertical Machining Centres (VMCs) and turn-mill centres. They operate at high speeds and feed rates, efficiently machining a variety of metals, including cast iron, forgings, steel and aluminium.
Apart from manufacturing standardized tools sets, Company has capabilities to produce customized tools to customers for their specific requirements. To cater to this segment, it has trained professionals who use modern software packages like Walter Helitronic Tool Studio, Siemens Powershape, etc to prepare the design. Once the designing is done, tools are manufactured as per the specification and quality desired. Additionally, Company also provides regrinding, re-sharpening and coating services of the used tools in improving the performance of the tools.
In 2013, Company initially started with the trading of cutting tools at Vavadi, an industrial belt in Rajkot. Seeing the scope in tools manufacturing business, Company ventured into the business of cutting tools as well. Also, it served as a natural extension to get into manufacturing as it possess technical and domain knowledge. In 2019, Company shifted its manufacturing unit from Vavadi to Pipaliya due to expansion of business and dearth of space at Vavadi unit. However, Company stopped its trading business subsequently due to the quality issues of other manufacturers and its possible bad impact on its own manufacturing unit.
The Company further has two German made machines to inspect the quality of the tools thus produced. One is Zoller Genius- 3s machine which does 5-axis checks while the other is Zoller Smart Check 450 machine which does 3-axis check. The more complex tools in terms of geometrics, cuts, fruits, etc undergoes quality check in 5-axis machine while lesser complex tools undergo quality check in 3-axis machine. These machines draft report in terms of technical specification of tool and forms a major basis in offering quality. The manufacturing plant is located on the Gondal highway which is near to several industrial belts like Shapar, Vavadi, etc. Many small and medium scale industries have set up shop at these industrial locations.
The Company launched the IPO by issuing 15,00,000 equity shares of face value of Rs 10 each by raising Rs 17.10 Crores in November, 2025.
Shining Tools Ltd IPO will close on 11 Nov 2025.
- Efficiency through Machine-Based Manufacturing Tools.
- Tailored Solutions to customers by Offering Customized Tools.
- Wide and diverse range of product offerings.
- Experienced management and technical expertise of employees.
- Strategic Location.
- Quality Assurance.
- Good relationship with clients.
- Good relationship with our raw material suppliers and other vendors.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Vipulbhai Laljibhai Ghonia | 665660 | 16.01 | 665660 | 11.76 |
| 2 | Kamalbhai Laljibhai Ghonia | 666160 | 16.02 | 666160 | 11.77 |
| 3 | Jayaben Laljibhai Ghonia | 939012 | 22.58 | 939012 | 16.6 |
| 4 | Kiranben Vipulbhai Ghonia | 666670 | 16.03 | 666670 | 11.78 |
| 5 | Pritiben Kamalbhai Ghonia | 1060996 | 25.51 | 1060996 | 18.75 |
| 6 | Khushi Ghonia | 500 | 0.01 | 500 | 0.01 |
| 7 | Kairavi Patoliya | 500 | 0.01 | 500 | 0.01 |
- Our manufacturing facility and our registered office is situated at Survey no. 63/2, Plot No. 2, Rajkot, Gondal Highway, Pipaliya, Gondal, Rajkot-360311, Gujarat, India resulting in concentration in a single region. Any interruption for a significant period of time, in these facilities may in turn adversely affect our business, financial condition and results of operations.
- We have only one Manufacturing Facility, continued operations of our manufacturing facility is critical to our business and any disruption in the operation of our manufacturing facility may have a material adverse effect on our business, results of operations and financial condition.
- Our historical revenues have been largely dependent on few customers and our inability to maintain such business may have an adverse effect on our results of operations.
- Our results of operations and cash flows could be adversely affected, if we are unable to collect our dues and receivables from, or invoice our unbilled services to, our clients.
- Majority portion of our domestic sales are derived from the western zone and any adverse developments in this market could adversely affect our business.
- Statutory records, including filings with the Registrar of Companies, are presently untraceable, particularly with respect to documentation evidencing one instance of historical share allotment.
- Our Company may incur penalties or liabilities for non-compliance with certain provisions of the GST Act, Income Tax, and other applicable laws in previous years.
- Volatility in the supply and pricing of our raw materials, or failure by suppliers to meet their obligations, may have an adverse effect on our business, cash flows, financial condition, and results of operations.
- The Restated Financial Statements have been provided by Peer Reviewed Auditor who is not Statutory Auditor of our Company for the Financial Year ended March 31st 2023 and March 31st 2022.
- There are certain discrepancies/errors noticed in some of our corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013 during the last five years. Any penalty or action taken by any regulatory authorizes in future for noncompliance with provisions of corporate and other law could impact the financial position of the Company to that extent.
- Non-Compliance with Section 185 of the Companies Act, 2013, may result in regulatory penalties and adverse implications.
- We have had negative cash flows in the past. Sustained negative cash flow could adversely impact our business, financial condition, and results of operations.
- We have not yet placed orders in relation to the plant and machineries to be purchased for the existing manufacturing unit. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the plant and machineries in a timely manner, or at all, the same may result in time and cost over-runs.
- We are subject to strict quality requirements and are consequently required to incur significant expenses to maintain our product quality. Any failure to comply with such quality standards may lead to cancellation of existing and future orders which may adversely affect our reputation, financial conditions, cash flows and results of operations.
- Our Company has acquired certain machineries from related parties, and such transactions may involve potential conflicts of interest. Acquisition of machinery from related parties may result in conflicts of interes and regulatory scrutiny.
- We require certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate our business, any failure to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect our operations.
- Our inability to accurately forecast demand for our products, and accordingly manage our inventory, may have an adverse effect on our business, cash flows, financial condition, and results of operations. Forecasting errors and inventory mismanagement may adversely impact operations and working capital.
- Our proposed capacity expansion plans relating to our manufacturing facility are subject to the risk of unanticipated delays in implementation and cost overruns.
- Under-utilization of our manufacturing capacities and an inability to effectively utilize our expanded manufacturing capacities could have an adverse effect on our business, future prospects and future financial performance.
- Our business operations are majorly concentrated in certain geographical regions and any adverse developments affecting our operations in these regions could have a significant impact on our revenue and results of operations.
- We propose to utilize a significant portion of the Net Proceeds for capital expenditure, including purchase of machineries from a vendor with whom we have no prior business relationship, which may pose operational and performance-related risks.
- We are subject to competition from both organized and unorganized players in the market, which may significantly affect the fixation and realization of the price for our product, which may adversely affect our business operation and financial condition.
- We intend to utilize a portion of the Net Proceeds for funding our capital expenditure requirements. We are yet to place orders for such capital expenditure machinery.
- Our insurance coverage may not adequately protect us against certain operating risks and this may have an adverse effect on the results of our business.
- Low entry barrier of the business and ability to retain customer and acquire new customers in the face of huge competition.
- We are subject to risks associated with expansion into new markets.
- Our proposed capacity expansion plans relating to our manufacturing facility are subject to the risk of unanticipated delays in implementation and cost overruns.
- We are heavily dependent on our Promoter and Key Managerial Personnel for the continued success of our business through their continuing services and strategic guidance and support.
- We have incurred losses in the past and may continue to do so in the future.
- Our Promoters, Directors and Key Management Personnel have interest in our Company, other than reimbursement of expenses incurred or remuneration.
- Any variation in the utilization of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- We have entered-into and may continue to enter-into related party transactions and there can be no assurance that such transactions have been on favorable terms.
- Significant Dependence on Trade Receivables and Inventories may impact our profitability, Cash Flow and Liquidity.
- Failure to effectively manage labour or failure to ensure availability of sufficient labour could affect the business operations of the Company.
- Relevant copies of educational qualification of our promoters are not traceable.
- We are subject to the restrictive covenants of banks in respect of the Loans/ Credit Limits and other banking facilities availed from them.
- Information relating to our production capacities and the historical capacity utilization of our production facilities included in this Prospectus is based on certain assumptions and has been subjected to rounding off, and future production and capacity utilization may vary.
- If we are unable to source business opportunities effectively, we may not achieve our financial objectives.
- If we fail to maintain and enhance our brand and reputation, our clients' recognition of, and trust in us, and our business may be materially and adversely affected.
- Changes in technology may render our current technologies obsolete or require us to make substantial investments.
- Our success largely depends upon the knowledge and experience of our Promoters, Directors, our Key Managerial Personnel and Senior Management as well as our ability to attract and retain personnel with technical expertise. Any loss of our Promoter, Directors, Key Managerial Personnel, Senior Management, or our ability to attract and retain them and other personnel with technical expertise could adversely affect our business, financial condition, and results of operations.
- Our Promoters, Directors and Key Management Personnel have interest in our Company, other than reimbursement of expenses incurred or remuneration.
- Our Company is dependent on third party transportation providers for the delivery of our input materials and products and any disruption in their operations or a decrease in the quality of their services could affect our Company's reputation and results of operations.
- We have taken guarantees from Promoters in relation to debt facilities provided to us.
- Our lenders have charge over our movable and immovable properties in respect of finance availed by us.
- Our Company has unsecured loans which are repayable on demand. Any demand loan from lenders for repayment of such unsecured loans, may adversely affect our cash flows.
- We have substantial working capital expenditure and may require additional financing to meet those requirements and have risk of receivables, which could have an adverse effect on our results of operations and financial condition.
- We could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect our financial condition, results of operations and reputation.
- Changes in customer preferences could affect our business, financial condition, results of operations and prospects.
- Negative publicity could adversely affect our revenue model and profitability of our Company.
- Fraud, theft, employee negligence or similar incidents may adversely affect our results of operations and financial condition.
- The average cost of acquisition of Equity Shares by our Promoter may be less than the Issue Price.
- We have not made any dividend payments in the past and our ability to pay dividends in the future will depend upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and restrictive covenants in our financing arrangements.
- Our inability to manage growth could disrupt our business and reduce profitability. Our business strategy is to continuously grow by expanding the size and geographical scope of our businesses.
- Cyber risk and the failures to maintain the integrity of its operational or security systems or infrastructure, or those of the company customers or other third parties with which its conduct business, could have a material adverse effect on the company business, results of operations, financial condition, cash flows and future prospects. Cyber threats are evolving and are becoming increasingly sophisticated.
- Its promoters and promoter group will continue to retain significant control over the Company after the IPO.
- Management has no experience in managing IPO and listing process and its related compliance thereafter the listing process can drain resources.
- The Company has allotted Equity Shares during the preceding one year from the date of the Prospectus which are lower than the Issue Price.
- There are no listed companies in India that are engaged in a diverse business segment in which its operates or of a comparable size to that of the Company hence not possible to compare its performance.
- 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.
- Delay in raising funds from the IPO could adversely impacts the implementation schedule.
- The Objects of the Issue for which funds are being raised, are based on its management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at the company discretion, based on the parameters as mentioned in the chapter titles "Objects of the Issue".
- Misuse of the company brand tixna or any Negative publicity could adversely affect its revenue model and profitability of the Company.
- The company has not independently verified certain data in this Prospectus.
- Any future issue of Equity Shares may dilute your shareholding and sales of its Equity Shares by the company Promoters or other major shareholders may adversely affect the trading price of the Equity Shares.
- You may be subject to Indian taxes arising out of capital gains on the sale of its Equity Shares.
- The company has experienced significant growth in its PAT, there is no assurance that the company will be able to sustain this rate of growth in the futures.
- Its Promoters or Directors may have interests, either directly or indirectly, in ventures involved in a business similar to it, which may result in a real or potential conflict of interest.
- The Company may requires additional capital resources to achieve its expansion plans.
- The auditor's report on its Restated Financial Statements highlights certain matters relating to the Companies (Auditors' Report) Order, 2020.
The Issue type of Shining Tools Ltd is Fixed Price - SME.
The minimum application for shares of Shining Tools Ltd is 2400.
The total shares issue of Shining Tools Ltd is 1500000.
Initial public issue of 15,00,000 equity shares of face value of Rs.10/- each (the "equity shares") of Shining Tools Limited
("the company" or "STL" or "the issuer") at an issue price of Rs.114/- per equity share for cash, aggregating Rs.17.10 crores ("public issue") out of which 75,600 equity shares of face value of Rs.10/- each, at an issue price of Rs.114/- per equity share for cash, aggregating Rs. 0.86 crores will be reserved for subscription by the market maker to the issue (the "market maker reservation portion"). The public issue less market maker reservation portion i.e. issue of 14,24,400 equity shares of face value of Rs.10/- each, at an issue price of Rs.114/- per equity share for cash, aggregating Rs. 16.24 crores is herein after referred to as the "net issue". The public issue and net issue will constitute 26.51% and 25.17%, respectively of the post-issue paid-up equity share capital of the company.
Price: Rs. 114 per equity share of face value of Rs. 10 each.
The issue price is 11.4 times the face value of the equity shares.
Bids can be made for a minimum of 2,400 equity shares and in multiples of 1,200 equity shares thereafter.