PNN
New Delhi [India], November 6: Shining Tools Limited has announced its plan to go public with an Initial Public Offering (IPO) on 07th November, 2025 to be listed on the BSE SME platform
About the company
* Shining Tools Limited is engaged in the designing and manufacturing of high-performance solid carbide cutting tools catering to various industries in India.
* The company specialize in producing a wide range of high-performance cutting tools, including end mills, thread mills, drills, and reamers, offering innovative tooling solutions.
* its cutting tools are designed for use on CNC machines such as Horizontal Machining Center's (HMCs), Vertical Machining Center's (VMCs) and turn-mill centers. They operate at high speeds and feed rates, efficiently machining a variety of metals, including solid carbide, cast iron, forgings, steel, and aluminium.
* The company manufactures a wide range of tools in various shapes, sizes, geometries, and grades (standard to ultrafine), offering complete cutting tool solutions supported by technical expertise, skilled staff, and advanced machinery.
* The company's portfolio includes both standardized and customized tools, with customized products contributing 73.19% to total revenue in FY 2024-25. These are developed using advanced design software such as Walter Helitronic Tool Studio and Siemens Powershape.
* The company also offers regrinding, re-sharpening, and coating services to enhance tool performance and extend tool life. Leveraging its technical expertise in tool design and manufacturing, the company restores used tools to their original geometries and coatings with precision.
* The company use ERP (Enterprise Resource Planning) software "NATIVEBIT" for managing inventory levels, production, execution, billing, and receivables
* The company has a 50 KW grid rooftop solar plant at manufacturing facility for captive consumption. This solar plant ensures continuous unabated operation of manufacturing facility and is a key proposition in BCP
Mr. Vipulbhai Laljibhai Ghonia, MD Shining Tools Limited said "I'm thrilled to announce our SME IPO listing, marking a significant milestone in our journey."
Objects of the Issue
The primary objectives of the issue are to finance the purchase and installation of plant and machinery for Carbide Precision Tools at the existing premises, located at Survey No. 63/2, Plot No. 2, Rajkot-Gondal Highway, Pipaliya, Gondal, Rajkot-360 311, Gujarat, India (referred to as the "Existing Premises"). In addition, a portion of the proceeds will be utilized to fund the company's working capital requirements and for general corporate purposes.
Issue Structure
The issue comprises 7,12,200 equity shares reserved for Individual Retail Investors and another 7,12,200 equity shares reserved for investors other than Individual Retail Investors. Further, up to 75,600 equity shares have been allocated to the Market Maker. The issue will open on Friday, November 7, 2025, and will close on Tuesday, November 11, 2025. The company's pre-issue share capital consists of 41,58,400 equity shares, which will increase to 56,58,400 equity shares post-issue.
The Lead Manager to the issue is Sobhagya Capital Options Pvt. Ltd., and the Registrar to the Issue is Maashitla Securities Private Limited.
Key Financials
As per the company's financial performance (₹ in lakhs), revenue from operations increased from ₹1,032.15 lakh in FY23 to ₹1,052.95 lakh in FY24 and further to ₹1,472.88 lakh in FY25. For the period ended July 31, 2025, the company reported revenue of ₹539.64 lakh. EBITDA improved significantly from ₹188.59 lakh in FY23 to ₹414.84 lakh in FY24 and reached ₹622.78 lakh in FY25, with a further ₹252.89 lakh recorded by July 2025. The EBITDA margin also strengthened from 18.27% in FY23 to 39.40% in FY24, 42.28% in FY25, and 46.86% as of July 2025.
Profit After Tax (PAT) moved from a loss of ₹7.93 lakh in FY23 to a profit of ₹157.53 lakh in FY24 and ₹293.01 lakh in FY25, with ₹146.72 lakh reported up to July 2025. Correspondingly, PAT margins improved from -0.77% in FY23 to 14.96% in FY24, 19.89% in FY25, and 27.19% as of July 2025. The company's net worth increased from ₹202.13 lakh in FY23 to ₹359.66 lakh in FY24, and further to ₹800.55 lakh in FY25, reaching ₹947.29 lakh by July 2025. Return on Equity (ROE) improved from -3.85% in FY23 to 56.08% in FY24, 49.59% in FY25, and 49.15% as of July 2025. Return on Capital Employed (ROCE) also showed consistent growth, rising from 8.32% in FY23 to 26.64% in FY24, 29.61% in FY25, and 35.70% as of July 2025.
Disclaimer: Shining Tools Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed the Prospectus with the Registrar of Companies, on 02nd November 2025 and thereafter with SEBI and the Stock Exchange. The Prospectus is available on the website of SME BSE at https://www.bsesme.com/PublicIssues/RHP.aspx. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, please refer to the Prospectus including the section titled "Risk Factors" on page 31 of the Prospectus.
Further, each Applicant where required agrees that such Applicant will not sell or transfer any Equity Shares or create any economic interest therein, including any off-shore derivative instruments, such as participatory notes, issued against the Equity Shares or any similar security, other than pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with applicable laws and legislations in each jurisdiction, including India.
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