Gretex Corporate Services Limited is Category-I Merchant Banker offering diversified Financial and Consultancy Services for SMEs, and it has announced its IPO. The Company intends to strengthen its Capital Base and expand its operation across the globe, which would help in its vision to lead in Capital Market Services and Investment Banking Corporate Advisory.
The Company is promoted by Mr. Arvind Harlalka, Mr. Alok Harlalka and M/s Bonanza Agency LLP (Previously known as Bonanza Agency Private Limited) who are the guiding force behind all the strategic decisions of the Company. Company’s Promoters have corporate and Entrepreneurial Experience. Mr. Alok Harlalka (Managing Director) is also a director in the Association of Investment Bankers of India (AIBI). This provides the company an advantage in terms it connects to big players in the field of financial Services. The Equity Shares issued are proposed to be listed on the SME Platform of BSE Limited. The Lead Manager to the Issue is Aryaman Capital Services Limited and the Registrar to the Issue is Bigshare Services Private Limited.
Gretex Corporate Services Limited was originally incorporated as “Dynamic Tradeserv Private Limited” on September 05, 2008, at Kolkata, West Bengal and in the initial years the Company was engaged in the Business of providing Project Finance Services to Companies through Banks and Financial Institutions. In the year 2011, the company started providing Capital Market Services. With promoters having a collective experience in the Financial Services Industry of approximately Three Decades, the Company have developed an expertise in the area of identifying Small and Medium Enterprises (SME), determine its funding requirement and carter Company’s funds needs by taking the Company Public by the mean of an IPO on the SME Exchange in India. The company primarily caters the needs of Small and Medium Enterprises, but their services are not limited to SMEs, over the period of years the company has been able to successfully create its name in Primary markets for successfully executing 21 SME IPOs and 1 BSE Startups Segment under SME Platform of BSE Limited. Gretex offers a banquet of services as following:
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Capital Markets |
IPOs, De-Listing, Open Offer, Exit Offer, Right Issue |
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Corporate Finance |
Valuation, Private Equity, Venture Capital, Bank Finance and Issue of Debt Securities |
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Corporate Restructuring |
Mergers & Acquisitions, Takeover, Demergers |
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Compliance Advisory |
Statutory Compliances and secretarial support services |
SME IPOs managed by Gretex Corporate Services Limited has performed well on the Business front and has generated good returns for the Investors. The Issue size of all 22 IPO’s managed by Gretex Corporate Services Limited is Rs 167 Crores and the current value as on July 20, 2021 of Issue Size is Rs 624 Crores. Market capitalisation of these companies at the time of listing was Rs 589 crores and the current market capitalisation as on July 20, 2021 is Rs 2478 Crores.
The company has their registered office and working station located at Office No. 13, 1st Floor, Bansilal Mansion 9-15 Homi Modi Street, Fort Mumbai – 400 001, Maharashtra, India having an area of approximately 475 sq. ft. as on date of filing of Prospectus. Apart from this, the company has its Branch office at 90, Phears Lane, 506, 5th Floor, Kolkata-700012, West Bengal, India.
During the last financial year, the Company has increased its revenue from Rs 1.45 Crore to Rs 3.24 Crore, and as per the Management, the Company has better EPS, RONW and NAV as compared to its peers. Mr. Alok Harlalka, Managing Director of Gretex Corporate Services Limited says “India is at the cusp of a revolution in Financial Services, Capital Markets, and Private Equity Venture Capital Investments. We have managed record funding through IPO, PE/VC investments in the last 12-15 months for our clients and the same is set to grow by leaps and bounds in times to come. Gretex aspires to be a successful Merchant Banker in India. We are confident about our strong financials and robust outlook that leads to attractive valuations of our company.”
From the prospectus
GRETEX CORPORATE SERVICES LIMITED’S IPO TO OPEN ON TUESDAY JULY 27, 2021 WITH A FIXED PRICE OF Rs 170 PER EQUITY SHARE EACH OF FACE VALUE OF Rs 10 EACH.
EMAIL: info@gretexgroup.com; WEBSITE: www.gretexcorporate.com; CIN: U74999MH2008PLC288128
CONTENTS OF THE MEMORANDUM OF ASSOCIATION OF THE COMPANY AS REGARDS ITS OBJECTS: For information on the main objects of the Company, investors are requested to see “History and Certain Corporate Matters” on page 103 of the prospectus and Clause I of the Memorandum of Association of the Company. The Memorandum of Association of the Company is a material document for inspection in relation to the Issue. For further details, see “Material Contracts and Documents for Inspection” on page 235 of the Prospectus.
LIABILITY OF THE MEMBERS OF THE COMPANY: The Liability of members of the Company is Limited.
AMOUNT OF SHARE CAPITAL OF THE COMPANY AND CAPITAL STRUCTURE: As on the date of the prospectus, the Authorised Share Capital of the Company is Rs 120.00 Lakh comprising 12,00,000 Equity Shares of Rs 10 each. The Issued, Subscribed and Paid-up Share Capital of the Company is Rs 89.97 Lakh divided into 8,99,745 Equity Shares of Rs 10 each. For details of the capital structure, see “Capital Structure” on page 53 of the Prospectus.
NAMES OF THE SIGNATORIES TO THE MEMORANDUM OF ASSOCIATION OF THE COMPANY AND THE NUMBER OF EQUITY SHARES SUBSCRIBED BY THEM:
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Sr. No. |
Name |
No. of Equity Shares |
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1. |
Mr. Arvind Harlalka |
5,000 |
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2. |
Mr. Sumit Harlalka |
5,000 |
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Total |
10,000 |
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DISCLAIMER CLAUSE OF SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI): The Issue is being made in terms of Chapter IX of the SEBI (ICDR) Regulations, 2018, the Prospectus was filed with SEBI in terms of the Regulation 246 (5) of the SEBI (ICDR) Regulations, 2018, and the SEBI has not issued any observation on it. Hence, there is no such specific disclaimer clause of SEBI. However, investors may refer to the entire “Disclaimer Clause of SEBI” on page no. 186 of the Prospectus.
DISCLAIMER CLAUSE OF BSE (DESIGNATED STOCK EXCHANGE): “It is to be distinctly understood that the permission given by BSE Limited (“BSE”) should not in any way be deemed or construed that the contents of the Prospectus or the price at which the equity shares are offered has been cleared, solicited or approved by BSE, nor does it certify the correctness, accuracy or completeness of any of the contents of the Prospectus.” The investors are advised to refer to the Prospectus for the full text of the “Disclaimer clause of BSE Limited” on page no. 188 of the Prospectus.
AVAILABILITY OF BID CUM APPLICATION FORM: Application Form can be obtained from the Registered Office of Company, GRETEX CORPORATE SERVICES LIMITED, Tel: +91 – 22 – 4002 5273 / 98368 22199 / 98368 21999; Office of Lead Manager: ARYAMAN FINANCIAL SERVICES LIMITED, Email: ipo@afsl.co.in, Tel: +91 – 22 – 62166999; Self Certified Syndicate Banks; Registered Brokers; Designated RTA Locations and Designated CDP Locations for participating in the Issue. Application Forms will also be available on the websites of the Stock Exchange and at all the Designated Branches of SCSBs, the list of which is available on the websites of the Stock Exchange and SEBI.
APPLICATIONS SUPPORTED BY BLOCKED AMOUNT (ASBA): Investors shall apply through the ASBA process. The investors are required to fill the ASBA form and submit the same to their banks. The SCSB will block the amount in the account as per the authority contained in ASBA form and will include amounts locked by RIIs using UPI Mechanism. On allotment, amount will be unblocked and account will be debited only to the extent required to be paid for allotment of shares. Hence, there will be no need of refund.
BANKER TO THE ISSUE: ICICI Bank Limited.
For further details, contact: Gretex- info@gretexgroup.com