SAR Televenture FPO is a book built issue of Rs 150.00 crores. The issue is entirely a fresh issue of 71.43 lakh shares.
SAR Televenture FPO opens for subscription on July 22, 2024 and closes on July 24, 2024. The allotment for the SAR Televenture FPO is expected to be finalized on Thursday, July 25, 2024. SAR Televenture FPO will list on NSE SME with tentative listing date fixed as Monday, July 29, 2024.
SAR Televenture FPO price band is set at ₹200 to ₹210 per share. The minimum lot size for an application is 500 Shares. The minimum amount of investment required by retail investors is ₹105,000. The minimum lot size investment for HNI is 2 lots (1,000 shares) amounting to ₹210,000.
Pantomath Capital Advisors Pvt Ltd is the book running lead manager of the SAR Televenture FPO, while Link Intime India Private Ltd is the registrar for the issue.
SAR Televenture FPO Details
| IPO Date | July 22, 2024 to July 24, 2024 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹200 to ₹210 per share |
| Lot Size | 500 Shares |
| Total Issue Size | 7,142,857 shares (aggregating up to ₹150.00 Cr) |
| Fresh Issue | 7,142,857 shares (aggregating up to ₹150.00 Cr) |
| Issue Type | Book Built Issue FPO |
| Listing At | NSE SME |
SAR Televenture FPO Timeline (Tentative Schedule)
SAR Televenture FPO opens on July 22, 2024, and closes on July 24, 2024.
| IPO Open Date | Monday, July 22, 2024 |
| IPO Close Date | Wednesday, July 24, 2024 |
| Basis of Allotment | Thursday, July 25, 2024 |
| Initiation of Refunds | Friday, July 26, 2024 |
| Credit of Shares to Demat | Friday, July 26, 2024 |
| Listing Date | Monday, July 29, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 24, 2024 |
SAR Televenture FPO Reservation
SAR Televenture FPO offers 7,398,225 shares. 1,425,225 (19.26%) to QIB, 1,443,750 (19.51%) to NII, 2,493,750 (33.71%) to RII and 2,035,500 (27.51%) to Anchor investors.
| Investor Category | Shares Offered | |
|---|---|---|
| Anchor Investor Shares Offered | 2,035,500 (27.51%) | |
| Market Maker Shares Offered | – | |
| QIB Shares Offered | 1,425,225 (19.26%) | |
| NII (HNI) Shares Offered | 1,443,750 (19.51%) | |
| Retail Shares Offered | 2,493,750 (33.71%) | |
| Total Shares Offered | 7,398,225 (100%) |
SAR Televenture FPO Lot Size
Investors can bid for a minimum of 500 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 500 | ₹105,000 |
| Retail (Max) | 1 | 500 | ₹105,000 |
| HNI (Min) | 2 | 1,000 | ₹210,000 |
SAR Televenture FPO Anchor Investors Details
SAR Televenture FPO raises Rs 42.75 crore from anchor investors. SAR Televenture FPO Anchor bid date is July 19, 2024. SAR Televenture FPO Anchor Investors list
| Bid Date | July 19, 2024 |
| Shares Offered | 2,035,500 |
| Anchor Portion Size (In Cr.) | 42.75 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 23, 2024 |
About SAR Televenture Limited
Incorporated in May 2019, SAR Televenture Limited provides telecommunication solutions for network operators. The company installs and commissions 4G and 5G towers, Optical Fibre Cable (OFC) systems, and deals in network equipment.
SAR Televenture is registered as an Infrastructure Provider Category I (IP-I) with the Department of Telecommunications (DOT). The company leases out built sites such as GBT/RTT/Pole sites and Out-Door Small Cell (ODSC), and it also establishes and maintains assets such as Dark Fibers, Right of Way, Duct Space, and Towers to grant on a lease, rent, or sale basis to the licensees of Telecom Services.
The company offers project management services for laying ducts and optic fiber cables, constructing basic transmission and telecom utilities, leasing dark fiber, constructing optical fiber networks, maintaining ducts and optic fiber, and providing optical fiber project turnkey services to Telecom Network Operators, Broadband Service Operators, and ISPs across Maharashtra.
As of May 31, 2024, the company has installed a total of 413 leased towers across various areas in West Bengal, Bihar, Uttar Pradesh, Chandigarh, Odisha, Jharkhand, Himachal Pradesh, Punjab, and Andaman & Nicobar Islands.
The Company is a ISO 9001:2015, ISO 140001: 2015, and ISO 45001: 2018 certified company.
On January 3, 2023, the company entered into a share purchase agreement to acquire 100% of the equity share capital of SAR Televentures F.Z.E, United Arab Emirates (formerly known as Shoora International -F.Z.E) from Shoora Capital Limited. Our subsidiary is currently involved in laying and installing fiber cables and trading network equipment.
As of May 31, 2024, the company has 38 employees in various departments.
SAR Televenture Limited Financial Information (Restated Consolidated)
SAR Televenture Limited ‘s revenue increased by 281.87% and profit after tax (PAT) rose by 297.92% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 26,641.86 | 2,422.42 | 410.83 |
| Revenue | 12,416.97 | 3,251.63 | 475.35 |
| Profit After Tax | 1,566.17 | 393.59 | 3.71 |
| Net Worth | 7,180.41 | 1,185.59 | -7.74 |
| Reserves and Surplus | 6,880.41 | 1,120.30 | -11.91 |
| Total Borrowing | 17,787.41 | 444.41 | 337.09 |
Key Performance Indicator
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 21.81% |
| ROCE | 6.63% |
| Debt/Equity | 2.48 |
| RoNW | 21.81% |
| PAT Margin (%) | 12.61 |
Objects of the Issue (SAR Televenture FPO Objectives)
The company proposes to utilize the Net Proceeds towards funding the following objects:
- Funding setting up of Fiber-to-the-Home (FTTH) network solutions for 3,00,000 Home Passes;
- Funding setting up of an additional 1000 number of 4G/5G telecom towers;
- Funding incremental working capital requirement of the Company; and
- General Corporate purposes.