Goblin India IPO

About Goblin India IPO

Goblin India Limited IPO is an IPO of TBA. It consists of a fresh issue of up to 35,00,000 equity shares. The lot size is TBA. The price range is TBA. The shares will be allotted on TBA. The credit of shares to the demat account will take place on TBA and the initiation of refunds will take place on TBA. The listing of shares will take place on TBA.

Objective of Goblin India IPO

• To set up a plant to manufacture/assemble Acrylonitrile Butadiene Styrene (ABS) luggage bags in Ahmedabad, Gujarat.
• To fund the working capital requirements of the company.
• General corporate purposes.

Industry Outlook

India is one of the major markets for luggage goods and bags across the world. An increase in personal disposable income, coupled with improvements in travel infrastructure, has increased the influx of domestic and foreign travellers in India, travelling either for business or leisure purposes, thereby fuelling the growth of the Indian luggage bags and accessories industry. Furthermore, the growing penetration of organised retail, media, and the internet is leading to a continuous shift in consumer preference from unbranded to branded products in the travel goods and bags segment as well. Consequently, India’s travel goods and accessories industry grew at an average rate of approximately 15% to reach a value of ₹20,400 crore in FY 2017.

By purpose, luggage bags account for almost half of the industry’s size by value, while handbags come next and account for about 22% of the market. In the luggage segment, hard shell luggage is estimated to have grown at a CAGR of 6.5% during the period 2013–2017 to reach ₹2,600 crore. However, the industry has been witnessing a shift in consumer preference towards soft case luggage over the past few years due to its ease of fitting into small spaces. Consequently, as per recent estimates, hard shell luggage accounts for 25% of the luggage market, while soft shell luggage accounts for the remaining share.

With rising income and increasingly busy work schedules, India has observed healthy growth in passenger air traffic, which is largely considered to be a key consuming segment for branded travel goods.

Company Information

Goblin India Limited is an ISO 9001:2015 certified travel luggage company engaged in the design, marketing, and sale of travel, business and casual luggage, as well as travel accessories. As of 31 March 2019, their products were sold in over six states in India, as well as in Paris, France, through a variety of wholesale and retail distribution channels. They sell their products under the brand name ‘Goblin’. Apart from travel luggage products, the company is involved in the trading and distribution of various products across multiple verticals such as digital consumer electronics, batteries and torches, office electronics, household items, and other commodities to corporates for the purpose of corporate gifting. Today, Goblin is one of the reputed brands specialising in travel gear. They have built trust and goodwill in the field of luggage and corporate gifting. They utilise multiple channels, including retail, wholesale, corporate gifting and e-commerce, to sell their products. Their products are produced by third-party manufacturers, located primarily in China, as well as in India.

Risks of Goblin India IPO

• They are engaged in the business of trading luggage bags and other travel gear accessories and are dependent on third-party manufacturers for the procurement of luggage bags and other travel gear accessories manufactured by them, without having executed supply agreements with these manufacturers. However, their inability to procure a stable supply of the same can adversely affect their business operations and profitability.

• They are dependent on third-party transportation providers for the supply of raw materials and the delivery of their products.

• They are exposed to foreign currency exchange rate fluctuations, which may impact their results of operations and cause those results to fluctuate. Their inability to manage foreign currency risk may harm their operational results and cause their financial performance to fluctuate and/or decline

IPO Registrar and Book Running Lead Managers

Book running lead managers: Fast Track Finsec Private Limited

Registrar for the IPO : Bigshare Services Private Limited

Business Model

The company earns its revenue by designing, marketing, and sale of travel, business, and casual luggage bags, as well as travel accessories.

Company Growth Trajectory

As per restated financial statements for the periods that ended on 31 March 2024, 2023 and 2022, their total revenues were ₹30.79 crore, ₹26.22 crore, and ₹12.75 crore, respectively. Their profit after tax for the periods that ended on 31 March 2024, 2023 and 2022 were ₹1.72 crore, ₹2.15 crore, and ₹2.46 crore, respectively.

Company Market Position

Goblin has a presence in local markets across India, with 4 distributors, 129 direct dealers, and 245 dealers of their distributors forming a distribution network pan-India. Goblin has also developed and strengthened their brand value through their subsidiary in France, which has over 250 dealers. As of now, Goblin owns two exclusive retail outlets in Ahmedabad, Gujarat, and one exclusive store in Paris through their subsidiary company. They are also present on leading e-commerce platforms such as Amazon and Flipkart.

How To Check Allotment Status of Goblin India IPO?

You can check the allotment status of shares either on the website of the Bomaby Stock Exchange (BSE) or on the website of the registrar Bigshare Services Private Limited. To check the status on the BSE website:

• Visit the BSE website
• Click on “Investor Services” and choose “Application Status Check”
• Choose the issue type — Equity or Debt (Equity in this case)
• Select the Issue Name from the drop-down. The issue name is the company’s name, which is Goblin India Limited
• Enter your application number or PAN number
• Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status

Follow these steps to know the allotment status on the registrar’s website:

• Visit the Bigshare Services Private Limited website
• Choose “Public Issues” from the “Investor Services” drop-down
• Select Goblin India Limited from the drop-down
• Enter your PAN number or Application number
• Click on “Submit” to know the allotment status

How To Apply for Goblin India IPO?

• Step 1: Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details: Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification: Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.