IPO Details
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IPO Size
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Schedule of Tridib Industries IPO
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End date
Allotment of bids
Refund Initiation
Listing on exchange
About Tridib Industries IPO
The IPO of Tridib Industries Ltd comprises a fresh issue of up to 21,99,600 equity shares. There is no offer for sale in this IPO, which is a fixed price issue. The price band is TBA. The lot size is TBA.
The IPO opening date is TBA and the closing date is TBA. The listing date is TBA. The allotment date is TBA. The credit of shares to the demat account will take place on TBA. The initiation of refunds will take place on TBA.
The company is mainly into manufacturing helmets and has its registered office in Ludhiana, Punjab. It also manufactures various components such as straps, purchasing sheet metal components, buckles, and other related parts and accessories used in these components and parts. The total installed capacity of 5,22,000 Units Per Annum.
Previously, the company focused on manufacturing helmets for OEMs (Original Equipment Manufacturers). However, they have now expanded their operations and begun manufacturing helmets under their own brand name, "GT Max”.
Objectives of Tridib Industries IPO
- Funding of capital expenditure requirements
- Funding of working capital requirements
- General corporate expenses
- Issue expenses
Tridib Industries IPO Valuation
Industry Outlook
The global motorcycle helmet market is expected to achieve an impressive valuation of US$ 2.7 Billion in 2023. It is anticipated to reach a market valuation of US$ 5.3 Billion by the end of the forecast period while exhibiting a CAGR of 7.1% from 2023 to 2033.
The increasing awareness regarding road safety is anticipated to fuel product demand. Moreover, an increasing number of motorbike and sports bike enthusiasts and rising concerns regarding road traffic injuries across the globe are expected to augment the adoption of two-wheeler helmets during the forecast period. Road traffic accidents have become a great challenge for government authorities in terms of efforts and finding sustainable solutions for effective prevention.
As per the report published by the United Nations Motorcycle Helmet Study, between 2008 and 2020, approximately 3.3 million people died because of motorcycle accidents, of which around 1.4 million of these lives could have been saved by making proper use of helmets.
In addition, a research study by the Centres for Disease Control and Prevention (CDC) reflected that wearing a helmet can increase the chances of survival by almost 37% and can help avoid head injuries by 69%. Growing awareness and efforts to promote riders’ safety are the factors expected to drive market growth.
Company Information
Tridib Industries Ltd is mainly engaged in the business of manufacturing helmets, including the assembly of various components such as straps, purchasing sheet metal components, buckles, and other related parts and accessories used in these components and parts. The total installed capacity is 5,22,000 Units Per Annum. The Manufacturing Unit of the Company is situated at Manesar, Gurugram, Haryana, Approx. 1800 Sq. mt plot area.
Previously, the company focused on manufacturing helmets for OEMs (Original Equipment Manufacturers). However, it has now expanded its operations and begun manufacturing helmets under its own brand name, "GT Max”.
TRIDIB INDUSTRIES has partnered with NZI Technologies to manufacture helmets in India, leveraging NZI's technical expertise. NZI Technologies is globally recognized for its production of helmets for two wheelers, incorporating GPS technology that epitomizes both quality and sustainability.
Tridib Industries IPO Strengths
High Quality Product
The company’s commitment to delivering high-quality products is paramount to its success. It takes pride in its ability to fulfil large orders while adhering to the most stringent quality standards, especially in markets where product safety is a top priority. The company has earned safety certifications, ISO certification 9001:2015. These certifications reflect its unwavering dedication to product excellence and safety
Innovation
The company, founded on the principles of uncompromised quality and relentless innovation, proudly showcases its state-of-the-art, fully robotic paint shop as the epicentre of its helmet manufacturing process. This remarkable facility ensures that its helmets not only meet the highest safety standards but also emerge as symbols of unwavering quality and ceaseless innovation.
Tie-up with Leading Brands
Through its strategic collaborations with industry leaders, the company has experienced growth and advancement. These partnerships have not only elevated the brand's prestige but have also streamlined its operations, making it more efficient and effective. Furthermore, by expanding its dealer network, these alliances have broadened its market reach significantly. These collaborations are a constant source of innovation, continuously enhancing its products.
Capital Efficient and Scalable Business Model
The company boasts a highly scalable business model underpinned by three core pillars: brand recall, integrated operations, and an extensive dealer network. These elements work in tandem to drive its success and has allowed it to establish a strong market presence.
Risks of Tridib Industries IPO
Unable to Maintain GT Max Brand
The company believes that the brand image it has developed has significantly contributed to the success of its business. It also believes that maintaining and enhancing the ‘GT Max’ brand are critical for its customer base. If it’s unable to maintain or enhance its brand image, its results of operations may suffer and may materially affect its business.
Inability to Respond to Customer Preferences
The company’s inability to anticipate and respond to changes in customer preferences in a timely and effective manner may result in the decline of the demand for its products, which may have an adverse impact on its business, results of operations and prospects.
Inability to Procure Adequate Amount of Raw Material
In the event, it’s unable to procure adequate amounts of raw material, at competitive prices, its business, results of operations and financial condition may be adversely affected. Further, it doesn’t generally enter into agreements with the suppliers and accordingly may face disruptions in supply from the current suppliers.
Non-compliance with Safety Laws
Non-compliance with and changes in, safety, health, labour and environmental laws and other applicable regulations, may adversely affect its business, results of operations and financial condition.
All Financial Information about Tridib Industries IPO
Comparison with peers
| Company | Face Value (₹per share) | EPS in ₹ | Return on Net Worth (in %) |
|---|---|---|---|
Tridib Industries Ltd | 10 | 1841.48 | 119.68 |
SM Auto Stamping Ltd | 10 | 2.32 | 23.23 |
Hindustan Hardy Ltd | 10 | 37.10 | 39.06 |
Akar Auto Industries Ltd | 5 | 6.49 | 140 |
Precision Metalinks Ltd | 10 | 1.24 | 25 |
Anchor Investor Bidding Date TBA
IPO Registrar and Book Running Lead Manager
- IPO Registrar: Skyline Financial Services Pvt Ltd
- Book Running Lead Manager: 3Dimension Capital Services Ltd
Business Model
Tridib Industries Ltd is committed to revolutionising the helmet industry by manufacturing high-standard, affordable helmets for two-wheeler riders. As of September 30, 2023, its product portfolio is extensive, offering a diverse range of helmet styles, designs, sizes, and colours across various categories, ensuring that it caters to a wide spectrum of customer tastes and requirements.
It has partnered with NZI Technologies to manufacture helmets in India, leveraging NZI's technical expertise. NZI Technologies is globally recognised for its production of helmets for two wheelers, incorporating GPS technology that epitomises both quality and sustainability.
Company Growth Trajectory
The revenue from operations of Tridib Industries Ltd grew from ₹0.0411 crores in FY 22 to ₹13.4046 crores in FY 23. From a negative EBITDA margin in FY 22, it grew to 19.83% in FY 23. PAT margin also increased from negative in FY 22 to 13.74% in FY 23. High quality products coupled with tie-ups with leading brands has helped in the company’s growth over the years.
Market Position
Tridib Industries Ltd holds the ISO 9001:2015 certification for Quality Management Control, a testament to its commitment to maintaining high-quality standards and efficient processes in its operations. With respect to the BIS 4151:2015 for Protective Helmets for Motorcycle Riders issued by the Bureau of Indian Standards, the Company has made an application for the certification and the same is under process.
All Financial Information about Tridib Industries IPO
Tridib Industries IPO Balance Sheet
| Parameter | FY23 | FY22 | FY21 |
|---|---|---|---|
Profit Before Tax (in ₹crore) | 2.1447 | (0.2722) | NA |
Cash Generated From & Used in Operating Activities (in ₹crore) | 0.3592 | 1.2940 | (1.2939) |
Cash Flow from Investing Activities (in ₹crore) | (0.9252) | (2.3032) | (0.4287) |
Cash flow From Financing Activities (in ₹crore) | (0.9958) | 2.1349 | 1.7483 |
Cash and Cash Equivalents at the Close (in ₹crore) | (0.4103) | 1.1514 | 0.0258 |
How to Check Allotment Status of Tridib Industries IPO?
1. Visit the Registrar’s Website
- Visit the official website of Skyline Financial Services Pvt Ltd
- Click on ‘Public Issue’ from ‘Investors’ dropdown
- Choose ‘Company Name’
- Enter DPID/Client ID or Application Number or PAN Number
- Click on ‘Search’ to know the status
2. Check on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO bid verification module. You can use it to check the status of Tridib Industries Ltd. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.
On the NSE IPO Bid Verification page, enter:
- Company name from dropdown
- Application number
- PAN
Then click 'Submit' to know the allotment status.
How to Apply for Tridib Industries IPO?
To apply for this 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.
Tridib Industries IPO FAQs
Where can I read more about Tridib Industries business?
You can read more about Tridib Industries and its IPO from the company’s red herring prospectus (RHP) here.
What is the Tridib Industries IPO?
The IPO of Tridib Industries Ltd consists of a fresh issue of 21,99,600 equity shares.
When will the IPO of Tridib Industries go live?
The exact dates of the Tridib Industries Ltd IPO are yet to be announced.
From where can I read more about Tridib Industries and its IPO?
You can read more about Tridib Industries Ltd from the company’s draft red herring prospectus here.
