On August 2, 2024, Spirit Stones went public on the stock market. The IPO received 185.82x subscriptions. Updated Aug 2, 2024, 10:28 AM, the latest GMP for the Esprit Stones IPO was ₹33. Forecast profit/loss for the IPO was 37.93%, according to the most recent GMP. 7.07% more than the allotted price, the Esprit Stones IPO (ESPRIT) had an issue price of ₹87.00 and was listed at ₹93.15. As per the gray market, the estimated price for the IPO listing was ₹120, which was posted below the GMP price and shown as a negative listing for GMP.
Esprit Stones IPO Details
| IPO Opening | July 26, 2024 |
| IPO Closing | July 30, 2024 |
| IPO Allotment Date | July 31, 2024 |
| Listing Date | August 02, 2024 |
| Price | ₹82 to ₹87 per share |
| Lot Size | 1600 Shares |
| Issue Size | ₹50.42 Cr |
| Face Value | ₹10 per share |
Esprit Stones Financials
| FY 2024 | |
| EPS | 6.29 |
| PE ratio | 13.04 – 13.83 |
| RONW (%) | 15.09 |
| NAV | 44.82 |
| ROCE (%) | 12.39 |
| EBITDA (%) | 12.17 |
| Debt/Equity | 1.72 |
About Esprit Stones
Esprit Stones was founded in 2016 and specializes in the manufacture of Engineered Stones such as (i) engineered quartz surfaces and (ii) engineered marble surfaces. The company primarily creates engineered quartz surfaces, while their subsidiary, HSPL, manufactures engineered marble surfaces. They are a major player in India’s Engineered Stones market. Through their unique design and production procedures, they can offer their product in a broad variety of colors, styles, designs, and textures.
They have tailored their manufacturing procedures to improve the uniformity, quality, longevity, and crack resistance of our Engineered Stones while also boosting slickness and sheen. Together with their research and development capabilities, their production knowledge allows us to create a variety of aesthetically pleasing designs for our products. They are constantly working to guarantee that they source high-quality raw materials for their Engineered Stones and that their high-quality requirements are satisfied by conducting continuous quality control inspections on raw materials and finished items at their Manufacturing Facilities.
