Schedule of Aesthetik Engineers
| Issue open date | 08 Aug 2024 |
| Issue close date | 12 Aug 2024 |
| UPI mandate deadline | 12 Aug 2024 (5 PM) |
| Allotment finalization | 13 Aug 2024 |
| Refund initiation | 14 Aug 2024 |
| Share credit | 14 Aug 2024 |
| Listing date | 16 Aug 2024 |
| Mandate end date | 27 Aug 2024 |
| Lock-in end date for anchor investors (50%) | 12 Sep 2024 |
| Lock-in end date for anchor investors (remaining) | 12 Nov 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Aesthetik Engineers
Founded in 2003, Aesthetik Engineers Limited is engaged in the business of designing, engineering, fabrication, and installation of facade systems. The company’s portfolio includes Building facades, Aluminium Doors and windows, Railing and staircases, and Glassfibre Reinforced Concrete (GFRC) catering to customers from various industries such as Hospitality, Residential, Commercial, and Infrastructure projects. The company executes end-to-end solutions of its offerings i.e., from designing of façade to installation of the facade at the site. The company’s production facility is located in Howrah, Kolkata, and spans over 3,000 square meters. Some of the major clients of the company include Infosys, L&T, Shapoorji Pallonji & Company, ACC India Pvt. Limited and Ambuja Housing and Urban Infrastructure Limited.
Financials of Aesthetik Engineers
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹26.47 crores |
| Fresh Issue | ₹26.47 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure | 8 (30.22%) |
| Working capital requirements | 15 (56.67%) |
| General corporate purposes | 3.47 (13.11%) |
*All figures except EPS are in ₹ Crores
Strengths
- Dedicated logistical solutions: The company’s sophisticated logistics solutions ensure seamless business operations and timely project execution, providing a distinct marketplace advantage.
- Consistency in quality and service standards: The company’s clear standard operating process for designing, fabricating, and supplying Building facades, Aluminum doors and windows, Railing, staircase, and Glassfibre reinforced concrete (GFRC) ensures that products meet required standards, such as heat and water resistance.
- Advanced machinery and product technologies: The company leverages advanced machinery and technologies by procuring quality products, including Italian fabrication technology and machinery like dedicated precision punching technology, double-head cutting machines, copy routers, etc. to improve operations.
Risks
- Seasonal and other environmental factors: The company’s business is subject to environmental and seasonal factors, particularly the monsoon season in the second quarter of each fiscal year which can impede the operations and projects.
- Geographical concentration: A significant portion of the company’s revenue has been generated from the state of West Bengal, any loss of business from this state may adversely affect the revenues and profitability.
- Negative cash flows from operating, investing, and financing activities: The company has had negative cash flows from its operating, investing, and financing activities in the last 3 years. Negative cash flows over extended periods could affect the company’s ability to implement its growth plans.
- Reliance on top clients: The company’s top ten customers contribute nearly 81% of revenues during the current and previous financial years. Any loss of business from one or more of them may adversely affect the revenues and profitability.