Utkal Speciality Industries Ipo
Utkal Speciality IPO Review & Key Points
Review: Neutral
IPO Lead Managers aka Merchant Bankers
Affinity Global Capital Market Pvt. Ltd.
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | June 10, 2026 |
| IPO Close Date | June 12, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹62 to ₹66 Per Share |
| Issue Size | Approx ₹34.54 Crores |
| Fresh Issue | Approx ₹34.54 Crores |
| Issue Type | Bookbuilding Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 4,000 | ₹2,64,000 |
| Retail Maximum | 2 | 4,000 | ₹2,64,000 |
| S-HNI Minimum | 3 | 6,000 | ₹3,96,000 |
| S-HNI Maximum | 7 | 14,000 | ₹9,24,000 |
| B-HNI Minimum | 8 | 16,000 | ₹10,56,000 |
| Investor Category | Share Offered | Shares (%) |
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | 50,000 Shares | 0.96% |
| NII Shares Offered | 19,68,000 Shares | 37.60% |
| Retail Shares Offered | 29,52,000 Shares | 56.40% |
| IPO Open Date: | June 10, 2026 |
| IPO Close Date: | June 12, 2026 |
| Basis of Allotment: | June 15, 2026 |
| Refunds: | June 16, 2026 |
| Credit to Demat Account: | June 16, 2026 |
| IPO Listing Date: | June 17, 2026 |
| IPO Bidding Cut-off Time: | June 12, 2026 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,43,00,000 | 100% |
| Promoter Holding Post Issue | 1,95,34,000 | 73.20% |
| Purpose | Crores |
| Funding incremental working capital requirements of the Company | ₹5.31 |
| Prepayment or Repayment of all or a portion of certain outstanding borrowings availed by the company | ₹11.00 |
| Funding Capital Expenditure requirement towards purchase of machinery for the new manufacturing facility at Khurda, Odisha | ₹9.60 |
| General Corporate Purposes | ₹- |
| To meet the offer related expenses | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹46.23 | ₹43.26 | ₹2.21 | ₹35.27 |
| 2024 | ₹44.15 | ₹39.75 | ₹3.24 | ₹37.60 |
| 2025 | ₹50.28 | ₹41.49 | ₹6.68 | ₹44.04 |
| Dec 2025 | ₹40.90 | ₹33.57 | ₹5.48 | ₹48.63 |
| KPI | Values |
| ROE: | 35.42% |
| ROCE: | -% |
| EBITDA Margin: | 22.38% |
| PAT Margin: | 13.74% |
| Debt to equity ratio: | 0.80 |
| Earning Per Share (EPS): | ₹6.16 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 30.88% |
| Net Asset Value (NAV): | ₹15.13 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Spinaroo Commercial Ltd | 1.75 | 33.66 | 5.28% | 33.50 | 0.44 Cr. |
| Aaradhya Disposal Industries Limited | 8.78 | 12.81 | 15.93% | 76.05 | 6.21 Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |