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Esprit Stones IPO
Price Band
₹82.0–87.0
Issue Size
₹50.35 Cr
Lot Size
1,600 shares
Min Investment
₹139,200
GMP
+₹33.0 (37.93%)
Issue Price
₹87.0
Subject to Sauda
₹40100
Paid only if allotted
Esprit Stones IPO AI Summary
- Esprit Stones IPO is listed on NSE SME in the Granites & Marbles sector.
- Price band: ₹82.0–₹87.0 per share, lot size 1,600 shares (min. investment ₹139,200).
- Subscription window: 26 Jul–30 Jul 2024, listing on 02 Aug 2024.
- Current GMP is +₹33.0 (37.93%), an estimated listing price of ₹120 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Esprit Stones IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 30 Jul 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Esprit Stones IPO Grey Market Premium (GMP) Today
GMP
+₹33.0
GMP %
+37.93%
Est. Listing
₹120.0
Updated: 25 Jul 2026 14:04
About the Company
Founded in 2016, Esprit Stones Limited manufactures engineered quartz and marble surfaces. As of March 2024, the Manufacturing Facility I is equipped with three (3) pressing lines and two (2) polishing lines, with a production capacity of around 72 lakhs sq.ft. per annum. Additionally, we commissioned our Manufacturing Facility II to manufacture quartz grit and quartz powder, which is the primary raw material for the manufacture of engineered quartz. The company manufactures unsaturated polyester resin, at the manufacturing facility three. The company has been certified for ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, and Green Guard certifications. As of May 31, 2024, the company had 295 employees in various departments.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 274.59 | 238.02 | 180.70 |
| Total Income | 274.78 | 176.07 | 190.03 |
| Profit After Tax | 10.32 | 3.56 | 18.51 |
| NET Worth | 72.39 | 62.28 | 58.93 |
| Reserves and Surplus | 56.24 | 52.78 | 49.43 |
| Total Borrowing | 125.42 | 118.80 | 58.00 |
Key Ratios
EPS
₹6.39
NAV
₹44.82
ROCE
12.39%
RoNW
15.09%
P/B Value
1.94
P/E Ratio
13.62
Market Cap
₹190.92 Cr
PAT Margin
3.78%
Debt/Equity
1.72
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Elegant Marbles & Grani Industries Ltd. | 436.83 | 3.44% | 23.69 | 11.42 | 11.42 |
| Global Surfaces Limited | 77.98 | 6.68% | 51.34 | 4.41 | 4.41 |
| Pacific Industries Ltd | 629.16 | 2.78% | 16.43 | 17.23 | 17.23 |
| Pokarna Ltd. | 191.05 | 15.89% | 25.33 | 28.18 | 28.18 |
| Esprit Stones Limited This IPO | 44.82 | 15.09% | 13.62 | 6.29 | 6.29 |
Promoters
Sunilkumar Lunawath, Nitin Gattani, Pradeepkumar Lunawath, Sangeeta Gattani, Anushree Lunawath and Siddhanth Lunawath
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding Working Capital requirement of the Company 14.00 2 Investment in our Subsidiary, Haique Stones Private Limited (HSPL), for repayment and / or prepayment in part or full of its outstanding borrowings 19.50 3 Investment in our Subsidiary, Haique Stones Private Limited (HSPL) for funding its Working Capital Requirement 6.50 4 General Corporate Purpose 4.45
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹176.07 Cr for the year ended 31 Mar 2023, rising to ₹274.78 Cr by 31 Mar 2024. This indicates a significant increase in revenue over the period.
Profit Trend
Profit After Tax was ₹3.56 Cr in the year ending 31 Mar 2023, increasing to ₹10.32 Cr by 31 Mar 2024. This shows a positive growth trend in profitability.
Valuation
Priced at a P/E ratio of 13.62 at the issue price, Esprit Stones is positioned against peers with P/E ratios ranging from 16.43 to 51.34.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO in the stock market compared to its issue price. A positive GMP suggests that the IPO is likely to list at a higher price than its issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's growth potential and market conditions before making a decision.
Who May Want to Wait
Investors who prefer stable, low-risk investments or those who are not comfortable with the inherent risks of investing in IPOs may want to avoid this offering.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While a positive GMP may suggest potential gains, market conditions, investor sentiment, and company performance can all influence the actual listing price. Investors should be prepared for the possibility of price fluctuations on the listing day.
This evaluation is generated from Esprit Stones's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Esprit Stones IPO GMP today?
Esprit Stones IPO GMP today is +₹33.0 (37.93%), indicating an estimated listing price of ₹120. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Esprit Stones IPO?
The price band of Esprit Stones IPO is ₹82.0–₹87.0 per share.
When does Esprit Stones IPO open and close?
Esprit Stones IPO opens on 26 July 2024 and closes on 30 July 2024.
When does Esprit Stones IPO list on the stock exchange?
Esprit Stones IPO listed on 02 August 2024 at ₹120.0.
What is the lot size for Esprit Stones IPO?
The lot size for Esprit Stones IPO is 1600 shares, requiring a minimum investment of ₹139,200.
What is the price band for the IPO?
The price band for the IPO is ₹82.0 to ₹87.0.
What is the minimum investment required?
The minimum investment required is ₹139,200.
What is the lot size for the IPO?
The lot size for the IPO is 1,600 shares.
When is the listing date?
The listing date is August 2, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price compared to the issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
26 Jul 2024
Close
30 Jul 2024
Allotment
31 Jul 2024
Listing
02 Aug 2024
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