Esprit Stones Limited

About the company

## **About Esprit Stones Limited** Founded in 2016, Esprit Stones Limited stands as a significant force in India's Engineered Stones sector, specializing in the production of engineered quartz and marble surfaces. Backed by the Aravali and Gattani groups from Udaipur, Rajasthan, the company has swiftly expanded its operations and capabilities. It primarily manufactures engineered quartz surfaces in its main facility, while through its subsidiary HSPL, it produces engineered marble surfaces. This strategic approach has positioned Esprit Stones as a key player in the market, recognized for its high-quality, durable products that offer superior resistance to scratches, stains, and heat compared to natural stones and other solid surfaces. Esprit Stones commitment to innovation is evident in its tailored manufacturing processes designed to enhance product consistency, quality, and durability while maximizing aesthetic appeal. Through continuous research and development, Esprit Stones introduces a variety of colors, designs, and textures, catering to diverse residential and non-residential applications such as kitchen countertops, bathroom vanities, floors, and wall cladding. This innovation extends to their sourcing practices, ensuring high-quality raw materials through rigorous quality control measures at their manufacturing facilities. Esprit Stones has strategically invested in vertical integration to bolster its supply chain resilience. By establishing facilities for the production of quartz grit, quartz powder, and unsaturated polyester resin (a crucial ingredient for Engineered Stones), the company has reduced dependency on external suppliers, thereby ensuring better control over material quality and production timelines. This vertical integration strategy has been instrumental in supporting their rapid growth and maintaining competitive advantage in the market. Internationally, Esprit Stones has made significant strides, exporting its products to over 10 countries, including the USA, Canada, Egypt, and Saudi Arabia. A substantial portion of their sales comes from exports, underscoring their global reach and market penetration. Domestically, the company has expanded its footprint through a network of distributors and the establishment of a premium brand, 'Haique' (formerly 'Haiqu'), which aims to epitomize luxury and sophistication in Engineered Stones. Plans to enhance market presence include setting up an experience center in Kishangarh, Rajasthan, and reinforcing their brand through strategic partnerships and targeted marketing efforts. Esprit Stones vision and industry expertise have been pivotal in navigating market dynamics, driving innovation, and fostering sustainable growth. Moving forward, the company remains committed to expanding its product portfolio, enhancing customer relationships, and solidifying its position as a leader in the Engineered Stones industry through continued investment in innovation and market expansion strategies. Esprit Stones Limited prepares for its Initial Public Offering (IPO), the proceeds from the Fresh Issue will be allocated towards critical objectives: 1. Funding Working Capital requirement of the company  1. Investment in theirSubsidiary, Haique Stones Private Limited (HSPL), for repayment and / or prepayment in part or full of its outstanding borrowings  1. Investment in their Subsidiary, HSPL for funding its working capital requirement  1. General corporate purpose

Financial performance (₹ Cr)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   26 Jul 2024

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   30 Jul 2024

   Last day to place your bid

3. Basis of Allotment

   Completed
   28 Jul 2024

   Share allotment finalised

4. Refund Initiation

   Completed
   01 Aug 2024

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   31 Jul 2024

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   02 Aug 2024

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.