Arunaya Organics IPO is a bookbuilding of Rs 33.99 crore. The issue is a combination of a fresh issue of 52.60 lakh shares, aggregating to Rs 30.51 crore and an offer for sale of 6.00 lakh shares, aggregating to Rs 3.48 crore.
The Arunaya Organics IPO bidding opened for subscription on April 29, 2025 and will close on May 2, 2025. The allotment for the Arunaya Organics IPO is expected to be finalized on Monday, May 5, 2025. Arunaya Organics IPO will be listed on NSE SME with a tentative listing date fixed as Wednesday, May 7, 2025.
The price band of the Arunaya Organics IPO has been fixed at ₹55 to ₹58 per share. The minimum lot size for application is 2000. The minimum investment amount required by retail investors is ₹1,10,000. But investors are suggested to bid at the cutoff price, which is around ₹1,16,000, to avoid an oversubscription scenario. The minimum lot size investment for HNIs is 2 lots (4,000 shares), which amounts to ₹2,32,000.
Unistone Capital Private Limited is the book-running lead manager of Arunaya Organics IPO, while Bigshare Services Private Limited is the registrar to the issue. The market maker for Arunaya Organics IPO is R.K.Stock Holding Private Limited.
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Arunaya Organics Limited IPO Detail
| IPO Date | April 29, 2025 to May 2, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹55 to ₹58 per share |
| Lot Size | 2,000 Shares |
| Total Issue Size | 58,60,000 shares (aggregating up to ₹33.99 Cr) |
| Fresh Issue | 52,60,000 shares (aggregating up to ₹30.51 Cr) |
| Offer for Sale | 6,00,000 shares of ₹10 (aggregating up to ₹3.48 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,22,78,432 shares |
| Share Holding Post Issue | 1,75,38,432 shares |
| Market Maker Portion | 2,96,000 shares R.K.Stock Holding Private Limited |
Arunaya Organics IPO Timeline
| IPO Open Date | Tue, Apr 29, 2025 |
| IPO Close Date | Fri, May 2, 2025 |
| Tentative Allotment | Mon, May 5, 2025 |
| Initiation of Refunds | Tue, May 6, 2025 |
| Credit of Shares to Demat | Tue, May 6, 2025 |
| Tentative Listing Date | Wed, May 7, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 2, 2025 |
Arunaya Organics IPO Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
Arunaya Organics IPO Promoter Holding
| Share Holding Pre Issue | 91.72% |
| Share Holding Post Issue |
Arunaya Organics Limited Financial Information (Restated)
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 60.74 | 45.04 | 38.62 | 34.36 |
| Revenue | 58.21 | 62.79 | 76.37 | 62.26 |
| Profit After Tax | 3.6 | 4.06 | 1.73 | 1.33 |
| Net Worth | 16.78 | 11.18 | 7.19 | 4.72 |
| Reserves and Surplus | 4.5 | 10.34 | 6.35 | 3.99 |
| Total Borrowing | 13.81 | 13.3 | 13.17 | 9.9 |
| Amount in ₹ Crore | ||||
Key Performance Indicator (KPI)
| KPI | Values |
|---|---|
| ROE | 44.15% |
| ROCE | 55.71% |
| Debt/Equity | 1.19 |
| RoNW | 36.27% |
| PAT Margin | 6.52 |
| Price to Book Value | 5.29 |
Objects of the Issue (Arunaya Organics IPO Objectives)
| S.No. | Objects of the Issue | Expected Amount (in Millions) |
|---|---|---|
| 1 | Setting up of a new manufacturing facility located at D-3/26/3, Dahej III, Industrial Estate, Dahej-392 130, Vagra, Bharuch, Gujarat (“Proposed Greenfield Project”); | 117.9 |
| 2 | Funding working capital requirements of the company | 90 |
| 3 | General corporate purposes |
About Arunaya Organics Limited
Incorporated in 2010, Arunaya Organics Limited is engaged in the manufacturing and exporting of specialty dyes and intermediates.
The company has garnered a strong reputation for delivering high-quality chemical products across various industries, including textiles, paints, plastics, mining, and food processing.
The company's products are available in multiple forms, such as standardized spray-dried and tray-dried powders, granules, crude, reverse osmosis-treated products and salt free.
The company has a production facility located at C-8, GIDC Estate, Naroda, Ahmedabad-382330, Gujarat, India, with an annual capacity of approximately 30 metric tons.
Products:
- Acid Dyes: Used on protein fibers like wool and nylon; applied in acid solution for strong bonding.
- Basic Dyes: Water-soluble dyes for acrylic fibers; used in coloring paper, jute, soaps, and detergents.
- Direct Dyes (Substantive Dyes): Applied in neutral/alkaline bath; suitable for cotton, paper, and cellulosic fibers; also pH indicators.
- Solvent Dyes: Dissolve in organic solvents; used for coloring craft paper and in cosmetics for vivid effects.
- Dye Intermediates: Chemical precursors for dyes; determine final color, stability, and performance in dye manufacturing process.
As of July 2024, the company had 36 employees.
Competitive Strengths:
- Experienced and dedicated promoter and professional management team with extensive domain knowledge.
- Wide product portfolio
- R&D capability
- Quality Assurance
Conclusion / Investment Strategy
AOL is engaged in the manufacturing and trading of various colours and its intermediaries. It marked inconsistency in its top lines for the reported period. The sudden surge in bottom lines from FY24 onwards has raised concerns and worries over its further sustainability. It is operating in a highly competitive and fragmented segment. Well-informed investors can invest funds for medium to long term. Reviewed by Neeraj on April 29, 2025
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