Corrtech International Ltd. IPO Details
Corrtech International was incorporated on June 8, 1982. Corrtech International is a provider of pipeline laying solutions including hydrocarbon pipeline laying works in India. In addition to pipeline laying and construction, the Company has also emerged as the leading player in horizontal directional drilling and cathodic protection solutions over the years. Through the subsidiary, Corrtech Energy Limited, the company manufactures precision components and provides products and services to the gas turbines and steam turbines operators along with services to the aerospace and defense sectors
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 4.0 M | - | - | ₹3,500.0 M | DRHP DOC |
Corrtech International Ltd. issue details
Corrtech International Ltd. has 4.0 M shares on offer
Corrtech International Ltd. IPO issue size is ₹ 3,500.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Corrtech International Ltd. IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Corrtech International Ltd. NUMBER OF SHARES ON OFFER
Corrtech International Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| H1FY22 | 154.8 | 4,792.7 | 157.9 | 141.9 |
| FY21 | 285.6 | 9,909.3 | 606.6 | 532.1 |
| FY20 | 349.5 | 7,782.2 | 847.8 | 706.8 |
| FY19 | 244.7 | 5,607.3 | 514.5 | 376.5 |
Corrtech International Ltd. INFORMATION ON IPO ISSUE
About Corrtech International Ltd.
Corrtech International was incorporated on June 8, 1982. Corrtech International is a provider of pipeline laying solutions including hydrocarbon pipeline laying works in India. In addition to pipeline laying and construction, the Company has also emerged as the leading player in horizontal directional drilling and cathodic protection solutions over the years. Through the subsidiary, Corrtech Energy Limited, the company manufactures precision components and provides products and services to the gas turbines and steam turbines operators along with services to the aerospace and defense sectors
Object of the Issue
- Redemption of debentures
- Repayment or pre-payment, in full or in part, of certain borrowings availed by the Company;
- Financing the capital expenditure for the purchase of new equipment;
- Infusion of equity into subsidiary company;
- Funding incremental working capital requirements of the Company
- General corporate purposes.
Corrtech International Ltd. Strengths
Relationship with clients
Long term relationship with clients and pre-qualification experience helps us in securing projects
Established track record
Established track record of completed projects and geographical footprint
Order book
Large order book
Diverse equipment
A diverse fleet of equipment
Corrtech International Ltd. Risks
Majority of revenue comes from single sector
The company derives the majority of its revenue from its oil and gas services. Currently, the business is primarily dependent on projects in India undertaken or awarded by oil and gas companies and derives the majority of its revenues from contracts with a limited number of customers
Defaulted on payments
The company has defaulted on payments in certain loans in the past
Capital intensive
The business is capital intensive and any experience with insufficient cash flow will harm the business
IPO FAQs
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.