- Price band
- ₹70
- Issue size
- ₹27.29 Cr
- Lot size
- 2000 sh
- Bidding
- 29 May – 2 Jun
- Grey market
- —
Face value ₹10.00
100% fresh capital
Lists 5 Jun 2026
No quote recorded
Market data to 30 Oct 2026. Company figures are as filed, sourced 16 Oct 2026. Every figure’s origin is listed under Sources.
IPOVista score
How this issue scores, and why
Every pillar opens to show the raw metric, the curve it was mapped through, the sub-score and its weight. Disagree with the weighting if you like — the arithmetic is all here.
IPOVista score
Balance sheet is the open question
63% of the scoring model was backed by disclosed data for Aureate Tradde, giving medium confidence. Weights for anything missing were redistributed rather than scored as zero.
How this score is builtBelow the line: market sentiment. Capped at 8 of 100 points so a hot grey market can tilt a score but never carry one.
Read this before the number
Leveraged balance sheet
Debt-to-equity of 2.5× leaves limited headroom if demand softens or rates rise.
SME platform listing
SME issues trade in larger lot sizes with thinner volumes than mainboard listings, which makes exiting a position harder.
The IPOVista Score is a transparent summary of disclosed fundamentals and issue terms. It is research, not investment advice, and it cannot predict listing performance.
The company
What the business actually does
Founded 2018 · Nariman Point, Mumbai, Maharashtra · 13 employees
Aureate Tradde imports and resells industrial raw materials from an office at Nariman Point, Mumbai. Its largest line is polymer and petrochemical resin — PVC resin, PET bottle resin, LDPE and HDPE — sold to makers of pipes, fittings, cables, packaging film, bottles and jerry cans. From FY24 it added rechargeable lithium-ion and sodium-ion cells, and from FY25 electric-vehicle chargers aimed at two- and three-wheeler applications. Polymers and petrochemicals still supplied 94.10% of revenue from operations in the nine months to 31 December 2025, cells 3.96% and chargers 1.84%. The company manufactures nothing and owns no warehouse: physical stock sits in rented facilities handled by a third-party warehouse company. Thirteen people were on the payroll at 30 April 2026.
Revenue is the resale margin on bought-in goods. Aureate buys resin and cells — 52.59% of nine-month FY26 purchases came from outside India — carries them on its own balance sheet, and sells on. Margins are thin: EBITDA margin was 0.04% in FY23, 1.90% in FY24 and 2.91% in FY25, reaching 7.20% in the nine months to December 2025. The structural constraint is working capital. Inventory is debt-funded: borrowings were ₹3,807.35 lakh against net worth of ₹1,724.49 lakh at 31 December 2025, finance cost took ₹361.13 lakh in FY25, and operating cash flow was negative in all four reported periods. Demand is concentrated — the ten largest customers were 82.40% of nine-month revenue.
The company on paper
- Legal name
- Aureate Tradde Limited
- IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first
- 3 Aug 2018
- CINCorporate Identity Number — the unambiguous handle for looking this company up at the MCA
- U52609MH2018PLC312471
- Sector
- Industrials · Import and distribution of polymer resins, lithium-ion/sodium-ion cells and EV chargers
- Employees
- 13
- Registered office
- Nariman Point, Mumbai, Maharashtra
- Promoters
- Kalash Kevin Shah, Punit Devendrabhai Shah
- Promoter holding, pre-issue
- 92.3%
- Promoter holding, post-issue
- 64.6%
- Website
- aureatetradde.in
The numbers
Financial performance
Revenue has compounded at −8.6% a year across the 3 reported financial years.
Revenue and profit
Figures in ₹ crore, as reported in the prospectus. Interim quarters are not annualised.
- Revenue
- Profit after tax
Margin trend
Profit and operating margin as a percentage of revenue
- Net margin
- EBITDA margin
Net worth and borrowings
At each period end, in ₹ crore. Gearing below each period is borrowings over net worth, from these same figures.
- Net worth
- Total borrowings
The price
Valuation
What the issue asks for the business, set against what the business earns.
No valuation ratios are recorded for this issue. The price band and the reported financials above are what this record holds.
The terms
How the issue is structured
100% of the money raised is fresh capital that goes to the company; the rest goes to shareholders selling down.
- Fresh issueNew shares — proceeds go to the company
- ₹27.29 Cr
- Offer for saleExisting shares — proceeds go to the selling shareholders
- ₹0
- Total issue size
- ₹27.29 Cr
- Shares offered in the OFS
- —
- Pre-issue shares outstanding
- —
- Employee discount
- —
- Market maker portionSME issues require a market maker to provide two-way quotes
- 1,96,000
What the issue does to ownership
Share of paid-up equity before and after the offer. The promoters give up 27.7% of the company.
- Promoters
- Everyone else
Hover or focus a segment to see who it is. The two bars are the same company, measured before and after the offer.
Percentages are of paid-up equity, and the “after” column assumes the offer is fully subscribed, which is how the offer document states it. This record does not disclose a pre- and post-issue share count, so the part of the company actually changing hands is not split out — everyone who is not a promoter is shown together.
Demand
What the market is bidding
Subscription is hard exchange data. Grey-market premium is not — it is an unofficial quote, shown because readers want it and labelled because it deserves the label.
Subscription by category
Cumulative bid multiples at the end of day 3. Anchor allocations are excluded.
Hover or focus a category to see who bids in it.
A category subscribed above 1× is oversubscribed; allotment in that category then runs as a lottery or on a proportionate basis.
Grey market premium
Unofficial over-the-counter sentiment
No grey-market quotes have been recorded for this issue.
Outcome
How it actually listed
- Issue price
- ₹70.00
- Listed at
- ₹70.00
- Listing gain
- unchanged 0.0%
- Since listing
- down 30.9%
- Against the issue price
- down 30.9%
Trading at ₹48.40 on 30 Oct 2026
What an allotment is worth now, before costs
Work it out
What this means for one application
Three calculations, each stating the assumption it rests on.
What one application costs
Shares are applied for in whole lots at the cut-off price. The full amount is blocked in your bank account under ASBA, not debited, until allotment.
- Shares applied for
- 4,000
- At cut-off price
- ₹70.00
- Amount blocked
- ₹2,80,000
One lot is 2000 shares at ₹1,40,000. This issue requires a minimum of 2 lots, so the smallest application is ₹2,80,000. That is how the SME board is built rather than a quirk of this issue: the minimum application is set above the ₹2,00,000 that caps a retail bid on the mainboard — two lots rather than one. The smallest bid here still sits in the individual investors’ category, the one the subscription figures call retail, and when that category is oversubscribed the minimum application is allotted by draw of lots — so the odds beside this apply directly.
Odds of getting an allotment
When the retail category is oversubscribed, SEBI requires a lottery for the minimum lot. Every application has the same chance, whatever its size.
~41%
chance of one lot, per application
- Retail subscription
- 2.41×
- Applicants per share available
- 2.4× the retail quota
This is an estimate of a lottery, not a prediction. Actual odds depend on the final basis of allotment, how many applications were at the minimum lot, and rejections for technical reasons. Applying from multiple distinct PANs is the only legitimate way to hold more tickets in that lottery.
What it actually did
This issue has listed, so there is a real number instead of a prediction. The grey-market premium is shown beside it for comparison.
₹70.00
listed at, 0.0% against the issue price
- Issue price
- ₹70.00
- Premium said
- —
- If allotted 2000 shares
- ₹0
Listing-day figures are as reported by the exchanges.
Our read
Easy to misread
Grounded only in figures disclosed in the prospectus. This is analysis, not a recommendation.
Easy to miss in the prospectus
- FY23 EBITDA is not reported here. The figure available for that year implied a margin of 0.04% on Rs 209.00 Cr of revenue while profit after tax was Rs 1.13 Cr, which does not reconcile against Rs 22.73 Cr of borrowings; later years run 1.90% (FY24), 2.91% (FY25) and 7.20% (nine months to December 2025). Rather than publish a figure that cannot be right, the year is shown without one.
Straight from the filing
Read it yourself
Every figure on this page comes out of these. Go and check them.
Served by the issuer, the exchange or the regulator — never a copy hosted here, so what you open is the filing itself.
The paperwork
Who is running the issue
- Lead managers
- Corporate Makers Capital Limited
- RegistrarAllotment status is checked on the registrar's own site
- MUFG Intime India Private Limited
How these figures were checked
Reconciled to Aureate Tradde's own prospectus and to exchange disclosures, then cross-checked against 5 other independently published compilations of the same filing. Where a stated ratio disagreed with the line items it should come from, the disagreement was settled against the prospectus itself.
- Aureate Tradde Limited — Prospectus dated 23 May 2026 (company website) · read 16 Oct 2026
- BSE cash-market bhavcopy, 5 June 2026 (listing day OHLC, ISIN, NewBrdLotQty) · read 16 Oct 2026
The prospectus is the authoritative document. Check anything that matters against it before you act.
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