IPO Details
RHP/DRHPIssue Date
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Investment/lot
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Price Range
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Lot Size
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IPO Size
N/A
Schedule of Tenty IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
About Tenty IPO
Tenty Limited IPO is an IPO of TBA. It consists of a fresh issue of up to 46,19,200 equity shares. 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.
Objective of Tenty IPO
- Capital expenditure towards purchase of plant & machinery.
- Working capital requirements.
- General corporate purposes.
Tenty IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band (₹) | TBA |
Existing Shares to be Sold | -- |
Fresh Issue | Up to 46,19,200*Equity Shares |
EPS (₹)For the year ended March 31, 2024 | 26.92 |
Tenty IPO Share offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs Share Offered | Not more than 50% |
Non-Institutional Bidders (NIBs) | Not less than 15% |
Retail Individual Bidders | Not less than 35% |
Industry Outlook
Currently, the Indian plastic processing industry comprises approximately 30,000 units that use injection moulding, blow moulding, extrusion, and calendering to create a wide range of products. Plastic material is becoming increasingly important across various industries, and per capita consumption is rising quickly.
The plastics industry currently includes about 50,000 businesses, most of which are micro, small, and medium-sized enterprises (MSMEs). These enterprises contribute ₹350,000 crore (US$4,289 crore) to India's economy and employ more than 50,000 people. The country recycles plastic at a rate of 60%, which is higher than that of developed nations. The "Make in India", "Skill India", "Swachh Bharat", and "Digital India" initiatives of the government are increasing plastic production, and by 2027, it is expected that the plastics industry will generate ₹1,000,000 crore(US$12,254 crore) in annual revenue, with 2,00,000 tonnes of exports.
The plastic industry in India market size is estimated at US$4,648 crore in 2024, and is expected to reach US$5,272 crore by 2029, growing at a CAGR of greater than 6.5% during the forecast period (2024-2029).
India's plastic industry is expected to grow in the coming years as demand for plastic products in packaging, automotive, construction, consumer goods, and other sectors continues to increase. Technological developments and growing emphasis on sustainability through development of environmentally friendly plastics are also contributing to the industry's growth. Government initiatives promoting manufacturing and a growing middle class are further contributing to growth of plastic consumption in India.
Company Information
Tenty Limited is engaged in the business of manufacturing writing instruments such as pen bodies, pen caps, ink refills and other plastic products including caps & closures, food containers, bottles & jars, dispensing closures, snap-on lids, cosmetic cream jars, shampoo & conditioner bottles, PET reform fans & fan components, along with embossed, debossed and printed closures as per client specifications from units situated in West Bengal and Assam. In addition to manufacturing, the company also trades in fan components and plastic granules as an additional service to their existing customers. Tenty’s unique expertise spans the entire plastics spectrum, allowing them to provide innovative solutions that are both unbiased and technologically advanced. Their commitment to leveraging world-class technologies and specialist knowledge ensures they deliver not just products but strategic value to their clients. They are dedicated to extending options and opportunities for their clients, helping them to achieve their business goals through cutting-edge solutions.
Strengths of Tenty IPO
Diverse product range.
Tenty offers a broad spectrum of high-tech, high-value products and components across various industries. This diversity allows them to cater to different market segments and customer needs, reducing dependency on any single product line or industry. Their ability to serve multiple sectors ensures a steady stream of revenue and minimises the impact of industry-specific downturns.
Technological expertise.
Tenty’s integration of world-class technologies with specialist expertise positions them as a leader in innovation. Their commitment to leveraging advanced technologies ensures they stay ahead of industry trends and competitors. This expertise enables them to develop cutting-edge solutions that meet the complex and evolving demands of their clients, providing a significant competitive edge.
Operational efficiency.
Operational efficiency is key to Tenty’s competitive advantage. They employ streamlined processes and best practices to ensure cost-effectiveness and timely delivery of products. Efficient operations not only enhance profitability but also enables them to offer competitive pricing and maintain high levels of customer satisfaction. Clients appreciate the reliability and promptness of service, which further strengthens their relationship with the company.
Risks of Tenty IPO
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The availability of raw material, i.e. plastic granules, is very crucial for their business activities, and any inability to pass on increased prices of key raw materials used for manufacturing their products may affect their profitability.
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They have manufacturing units located in West Bengal and Assam. Any localised social unrest, breakdown of services, or any other natural disaster in and around West Bengal and Assam, or any disruption in production at, or disruption to power sources, or any temporary shutdown of their manufacturing facility, or breakdown or failure of machinery, may have a material adverse effect on their business, results of operations, financial condition and cash flows.
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Any significant decline in the demand for their products, the introduction of alternative technology or consumer habits, or a slowdown of the industry in which they operate may adversely affect their profitability and business prospects.
Tenty IPO Financials
Peers Comparison
| Parameter | Tenty Limited | Time Technoplast Limited | Hitech Corporation Ltd |
|---|---|---|---|
Revenue from operations for the year ended March 31, 2024 (₹ in crores) | 362.24 | 2633.04 | 561.79 |
P/E | --- | 54.76 | 22.01 |
EPS (Basic) (₹) | 26.92 | 7.04 | 12.81 |
Return on Net Worth (%) | 14.11 | 9.37 | 8.70 |
NAV per share (₹) | 134.50 | 77.92 | 153.37 |
Anchor Investor Information
The Anchor Investor Bid/ Issue Period shall be one Working Day prior to the Bid/Issue Opening Date.
IPO Registrar and Book Running Lead Managers
Book running lead managers: Gretex Corporate Services Limited
Registrar for the IPO : CB Management Services Private Limited
Business Model
The company earns its revenue through the following sources:
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Manufacturing writing instruments such as pen body, pen caps, ink refills and other plastic products such as Caps & Closures, food containers bottles & jars, dispensing closures, snap-on lids, cosmetic cream jars, shampoo & conditioner bottles, PET reforms, fans & fans components. Along with embossed, debossed and printed closures as per client specifications.
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The company also trades in fan components and plastic granules as an additional service to its existing customers.
Tenty manufactures a wide range of high-technology products in plastics and works as a tier-one supplier to many global giants.
Company Growth Trajectory
Their revenue from operations increased by ₹143.07 crores, from ₹219.18 crores for the financial year that ended on 31 March 2023 to ₹362.25 crores for the financial year that ended on 31 March 2024, representing a growth of 10.01% on account of merger of M/s Dolswap Business Private Limited whose revenue from operations was ₹162.83 crores for FY 2023-24. Their total other income increased by ₹0.32 crores, from ₹1.32 crores for the financial year that ended on 31 March 2023 to ₹1.64 crores for the financial year that ended on 31 March 2024. Their profit/(loss) for the year increased by ₹7.47 crores, from ₹4.34 crores for the financial year that ended on 31 March 2023 to ₹11.81 crores for the financial year ended 31 March 2024, representing a growth of 172.28%.
Company Market Position
The company established their initial factory in the Kasba district of Kolkata, covering an impressive 20,000 square feet. In 2011, they strategically expanded their operations by establishing a new facility in the Poly Park Industrial Area. In 2015, they inaugurated a state-of-the-art manufacturing unit in Sankrail. In 2017, they extended their reach to the northeastern region of India by establishing a new factory in Guwahati. In 2024, they established a new factory in Sankrail.
Tenty Company Profit & Loss
| Parameter | FY22 | FY23 | FY24 |
|---|---|---|---|
Revenue from operations (₹ crores) | 197.27 | 219.18 | 362.24 |
Profit Before Tax (₹ crores) | 4.39 | 5.81 | 15.03 |
Net profit / (loss) (₹ crores) | 3.44 | 4.33 | 11.80 |
EBITDA (₹ crores) | 11.38 | 14.10 | 31.37 |
EPS (₹) | 11.4 | 10.82 | 26.92 |
Tenty Cash Flow
| Parameter | FY22 | FY23 | FY24 |
|---|---|---|---|
Profit before tax (₹crores) | 4.39 | 5.81 | 15.03 |
Net Cash from Operating Activities (₹ crores) | 7.33 | 4.19 | 48.99 |
Net Cash from Investing Activities (₹ crores) | -2.16 | -8.60 | -17.77 |
Net Cash from Financing Activities (₹ crores) | -5.20 | 6.79 | -27.36 |
Cash and Cash Equivalents (₹ crores) | 0.18 | 2.56 | 6.48 |
How To Check Allotment Status of Tenty IPO?
You can check the allotment status of shares either on the website of the National Stock Exchange (NSE) or on the website of the registrar CB Management Services Private Limited. To check the status on the NSE website:
- Visit the NSE 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 Tenty 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 CB Management Services Private Limited website
- Choose “Public Issues” from the “Investor Services” drop-down
- Select Tenty Limited from the drop-down
- Enter your PAN number or Application number
- Click on “Submit” to know the allotment status
How To Apply for Tenty 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.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Tenty IPO FAQs
Where can I read more about Tenty business?
You can read more about Tenty and its IPO from the company’s red herring prospectus (RHP) here.
What is the Tenty IPO?
The Tenty Limited IPO has an issue size of TBA. The IPO opens for subscription on TBA and closes on TBA.
Who is the Registrar for Tenty IPO?
CB Management Services Private Limited is the registrar for this IPO.
