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- Falcon Technoprojects India Ltd
Falcon Technoprojects India Ltd
Mechanical, Electrical, and Plumbing (MEP) services refer to installation services that provide comfortable spaces for building occupants. These services specifically deal with the design, selection, and installation of the integrated Mechanical, Electrical, and Plumbing systems. It includes installing air-conditioning systems, power and lighting systems, water supply and drainage, fire prevention and fighting systems, and telephones. By integrating these separate systems into one, the operation can be made more energy effective.
Mechanical systems are those systems associated majorly with Firefighting and HVAC services. Under firefighting services, the Company provides solutions like fire hydrant and wet riser system, Sprinkler System, water spray system, gas-based suppression system like CO2 system, etc. in the area of life & property safety. Secondly, it undertakes turnkey electrical projects and is engaged in executing and providing electrical engineering service for power, process, industrial and commercial projects both High Tension (HT) as well as Low Tension (LT) for the public and private sector undertakings. It provides services required for power generation, lighting fixtures, fans and air conditioning systems, connecting electric appliances through audio / remote controls, touch panels, architectural lighting plan design, design and lighting specifications, lighting control design, energy management, integration of IT (information technology) and AV (audio visual) for overall building design. Finally, it provides services of sanitary fixtures & fittings, internal drainage (above ground) system, external drainage (underground) system, rain water disposal system, water supply system, rainwater harvesting, plant & utilities etc.
The Company is proposing the Public Offer of 14,88,000 Fresh Issue Equity Shares.
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Falcon Technoprojects India Ltd IPO Timeline
Falcon Technoprojects India Ltd IPO opens on 19-Jun-2024, and closes on 21-Jun-2024. The Falcon Technoprojects India Ltd IPO bid date is from 19-Jun-2024 to 21-Jun-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Falcon Technoprojects India Ltd IPO Opening Date | 19-Jun-2024 |
| Falcon Technoprojects India Ltd IPO Closing Date | 21-Jun-2024 |
| Basis of Allotment | 24-Jun-2024 |
| Initiation of Refunds | 25-Jun-2024 |
| Credit of Shares to Demat | 25-Jun-2024 |
| Falcon Technoprojects India Ltd IPO Listing Date | 26-Jun-2024 |
Falcon Technoprojects India Ltd IPO Lot Size
Falcon Technoprojects India Ltd IPO lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or 110400).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹110400 |
| Maximum | 1 | 1200 | ₹110400 |
Falcon Technoprojects India Ltd IPO Details
| Falcon Technoprojects India Ltd IPO Date | 19-Jun-2024 to 21-Jun-2024 |
| Falcon Technoprojects India Ltd IPO Face Value | Shares of ₹10 per share |
| Falcon Technoprojects India Ltd IPO Price | ₹92 per share |
| Falcon Technoprojects India Ltd IPO Lot Size | 1200 |
| Issue Size | Shares of ₹10 (aggregating up to ₹13.69 Cr) |
| Fresh Issue | Shares of ₹10 (aggregating up to ₹13.69 Cr) |
| Offer for Sale | - |
| Issue Type | Fixed Price - SME |
| Listing At | NSE - SME |
| QIB Shares Offered | - |
| Retail Shares Offered | - |
| NII (HNI) Shares Offered | - |
| Company Promoters | Bharat Shreekishan Parihar, Sheetal Bharat Pahihar. |
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 Working capital requirements of the company
- 2 General corporate purposes
Company Financials
Falcon Technoprojects India Ltd Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 03-2023 | 21.84 | 16.57 | 1.04 |
| 03-2022 | 21.80 | 22.90 | 1.03 |
| 03-2021 | 17.20 | 9.46 | 0.30 |
| Amount in ₹ Crore | |||
- Experienced Management team having domain knowledge to scale up and expand into new opportunities.
- Dedicated technical & functional team to provide solutions to its customers.
- Experience of handling large & complex projects.
- Multi-year relationships with most customers.
- Improving operational efficiency.
- The company derives significant portion of its revenue from limited number of customers, the loss of one or more such customers, the deterioration of their financial position or prospects, or a reduction in their demand for its services could adversely affect its business, financial position and future prospects of the Company.
- Its Registered Office from where the company operates is not owned by it.
- The company operates in a competitive environment and may not be able to effectively compete with similar companies, which could have a material adverse effect on its business, results of operations and financial condition.
- Pricing pressure from its customers may adversely affect its gross margin, profitability and ability to increase the company prices, which may in turn have a material adverse effect on its results of operations and financial condition.
- Its Promoter Mr. Bharat Shreekishan Parihar plays a key role in the company functioning and its heavily relies on his knowledge and experience in operating its business and therefore, it is critical for the company's business that its promoter remain associated with the company.
- The company depends on its management team and other personnel with technical expertise, and if the company is unable to recruit and retain qualified and skilled personnel, its business and its ability to operate or grow the company's business may be adversely affected.
- There are outstanding litigations involving the Company, Promoters and Directors which, if determined adversely, may affect its business and financial condition.
- If the company is unable to collect its dues and receivables from the company's customers in accordance with the terms and conditions of the contracts and the delivery and payment schedules, its business, results of operations or financial condition could be materially and adversely affected.
- The company has experienced negative cash flows in the past. Any such negative cash flows in the future could affect its business, results of operations and prospects.
- Its business requires significant amounts of working capital. If the company experience insufficient cash flows from its operations or are unable to borrow funds to meet the company working capital requirements, it may materially and adversely affect its business and results of operations.
- The company is unable to trace certain documents in relation to regulatory filings, corporate actions taken by the Company and have made certain delayed or inaccurate statutory form filings with the RoC in the past and are delayed in filing of other statutory forms with the RoC. Consequently, its may be subject to adverse regulatory actions and penalties for any past or future non- compliance and our business, financial condition and reputation may be adversely affected.
- The company has entered into and will continue to enter into, related party transactions. There is no assurance that its future related party transactions would be on terms favorable to it when compared to similar transactions with unrelated or third parties.
- The Company has higher debt-equity ratio which requires significant cash flows to service its debts obligations, and this, together with the conditions and restrictions imposed by its financing arrangements, fluctuations in the interest rates may limit its ability to operate freely and grow its business.
- Hypothecation of Company property as security toward borrowings from the lenders.
- There are some delay filing of certain GST forms and also delay in making statutory payment by the company.
- Godown the company used for business purpose is not owned by it.
- Certain agreements with respect to borrowings are inadequately stamped or may not have been registered.
- Certain of its Promoters, Directors and Key Management Personnel may be interested in it other than in terms of remuneration and reimbursement of expenses, and this may result in conflict of interest with the company.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- The company does not have copies of past experience certificates of our promoters/Directors and Key Managerial Personnel.
- Unsecured loans taken by the Company can be recalled by the lenders at any time.
- The company Company has not registered the trademark. Its ability to use the trademark may be impaired if the same is not registered under its name.
- The average cost of acquisition of Equity Shares by its Promoters could be lower than the issue price.
- 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 its Audit Committee.
- In the event there is any delay in the completion of the Issue, there would be a corresponding delay in the completion of the objects of this Issue which would in turn affect its revenues and results of operations.
- Its insurance coverage may not be adequate.
- The company may be subject to reputational risks due to any dissatisfaction in the service quality or mismanagement in deliverables. If its services do not meet the company customers' expectations, its may faces reputational risk which may become hard for the company to recover from.
- Certain sections of this Prospectus disclose information from the industry report which has been commissioned and paid for by it exclusively in connection with the Issue and any reliance on such information for making an investment decision in the Issue is subject to inherent risk.
- The company may be unable to respond to changes in customer demands and market trends in a timely manner.
- If the company fails to maintain an effective system of internal controls, its may not be able to successfully manage or accurately report its financial risks.
- The Company will continue to be controlled by its Promoters after the Issue. There is no assurance that its Promoters will take actions that are in the best interest of the Company or that of the other shareholders.
- The company requires a number of approvals, NOCs, licenses, registrations and permits in the ordinary course of its business. Some of the approvals are required to be obtained by it and any failures or delay in obtaining the same in a timely manner may adversely affect its operations.
- The company has projects in diverse geographic regions and markets which may subject it to various challenges.
- If the company is unable to source business opportunities effectively, its may not achieve the company financial objectives.
- Some of the KMPs are associated with the company for less than two year.
- The Company does not have any listed peer companies for comparison of performance and therefore, investors must relies on their own examination of accounting ratios of the Company for the purposes of investment in the Issue.
- Retain, strengthen and grow customer base with a focus on maintaining relationships with existing customers.
- Growing market share in key segments.
- Improve operating margins.
Falcon Technoprojects India Ltd IPO Promoter Holding
| Pre Issue Share Holding | 78.64% |
| Post Issue Share Holding | 56.79% |
Falcon Technoprojects India Ltd IPO Subscription Status (Bidding Detail)
The Falcon Technoprojects India Ltd IPO is subscribed 63 times on Jun 21, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Subscription (times) | - | - | - | - | 63 |
Falcon Technoprojects India Ltd IPO Prospectus
Falcon Technoprojects India Ltd IPO Listing Date
| Listing Date | 26 Jun 24 |
| BSE Script | 92603 |
| NSE Symbol | FALCONTECH |
| Listing In | NSE - SME |
| ISIN | INE0PQK01013 |
| IPO Price | ₹92 |
| Face Value | ₹10 |
Falcon Technoprojects India Ltd IPO Registrar
KFin Techologies Ltd
Phone: +91 40 6716 2222
Email: ftil.ipo@kfintech.com
Website: www.kfintech.com
Falcon Technoprojects India Ltd IPO Lead Manager(s)
- Kunvarji Finstock Pvt Ltd
FAQs on Falcon Technoprojects India Ltd IPO
Falcon Technoprojects India Ltd IPO, which opens for subscription from 19-Jun-2024 to 21-Jun-2024 has an issue size of ₹13.69 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Falcon Technoprojects India Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Falcon Technoprojects India Ltd IPO Opens for subscription from 19-Jun-2024 to 21-Jun-2024.
The lot size of Falcon Technoprojects India Ltd is 1200 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹110400 and ₹110400 respectively.
Allotment date for Falcon Technoprojects India Ltd is 24-Jun-2024 and refund of application amount (in case allotment is not received) will begin from 25-Jun-2024. If your allotment goes through, then shares will be credited in your Demat account by 25-Jun-2024.
The registrar for Falcon Technoprojects India Ltd IPO is KFin Techologies Ltd . You can check your IPO allotment status on the registrar's website.
The shares of Falcon Technoprojects India Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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