Taurian MPS Ltd IPOTAURIAN

The IPO opens on 09 Sept 2025 & closes on 11 Sept 2025.

Taurian MPS Limited was originally incorporated on June 28, 2010, as a Private Limited Company in the name of 'Rashi Resources Private Limited' with the Deputy Registrar of Companies, National Capital Territory of Delhi and Haryana. Subsequently, the name of Company was changed from 'Rashi Resources Private Limited' to 'Taurian MPS Private Limited' and a Certificate of Incorporation was issued on July 22, 2022, by the Registrar of Companies, Mumbai. Further, Company was converted from a Private Limited to Public Limited and the name was changed to Taurian MPS Limited' and a Fresh Certificate of Incorporation was issued on November 05, 2024 by the Registrar of Companies, Central Processing Centre. The business initially began with a focus on sand, aggregates and spare parts, catering to industries such as construction, mining, and aggregates that required these materials for various applications. Over time, the company expanded its product offerings and diversified into the supply of machines and spare parts. This shift marked a strategic transition towards becoming a more comprehensive solutions provider in the industrial sector. The Company is one of the growing engineering and manufacturing company which specialize in manufacturing of plant such as crushing and screening plants, washing plants & Spare Parts. It include products to various industries aggregating to minerals, metals construction, food processing industry, waste management industry and also includes crushed stone and sand. It now offers not only high-quality spare parts but also a range of machinery, such as crushing and screening plants, washing plants, and spare parts. Additionally, Company provides customized solutions while it undertakes specific tasks such as fabricating parts, assembling machinery, and performing specialized operations based on customer requirements. It is operating a production unit in Uttarakhand near Bhagwanpur in Roorkee District of Haridwar. The Company provides services and Maintenance in addition to its manufacturing of crushing plants, screening plants, washing plants, and other related equipment. These services extend to repairs, maintenance, and upgrades for existing equipment, helping customers keep their operations running smoothly. In addition, Company has formed an Alliance with Plus Natural Resources to provide comprehensive solutions for the mining and natural resources sectors. Company is planning a fresh issue equity shares of 23,40,000 of face value Rs 10 each through IPO.

Taurian MPS Ltd IPO will close on 11 Sept 2025.

<ul><li>Comprehensive Product Portfolio.</li><li>Manufacturing Capabilities.</li><li>Quality Control Mechanism.</li><li>Design and R&D Team.</li><li>Experience Management Team.</li><li>Diversified Customer Base.</li></ul>

<table class="table"> <thead> <tr> <th>S.No</th> <th>Promoters Name</th> <th>Pre Issue Shares</th> <th>Pre Issue Percentage</th> <th>Post Issue Shares</th> <th>Post Issue Percentage</th> </tr> </thead> <tbody> <tr> <td>1</td> <td>Yashvardhan Sumit Bajla</td> <td>3087280</td> <td>48.27</td> <td>3087280</td> <td>34.75</td> </tr> <tr> <td>2</td> <td>Puja Sumit Bajla</td> <td>2056412</td> <td>32.15</td> <td>2056412</td> <td>23.15</td> </tr> <tr> <td>3</td> <td>Palss Properties Pvt Ltd</td> <td>245970</td> <td>3.85</td> <td>245970</td> <td>2.77</td> </tr> <tr> <td>4</td> <td>Castelos Parts Pvt Ltd</td> <td>149270</td> <td>2.33</td> <td>149270</td> <td>1.68</td> </tr> <tr> <td>5</td> <td>Danta Resins Pvt Ltd</td> <td>128412</td> <td>2.01</td> <td>128412</td> <td>1.45</td> </tr> </tbody> </table>

<ul><li>Dependence on Customer Retention and Irregular Business Frequency.</li><li>The Company is dependent on few suppliers for purchase of product. Loss of any of these large suppliers may affect its business operations.</li><li>Risk of Unsustainability of PAT Margin Increase in FY 24.</li><li>Non-Receipt of No Objection Certificate (NOC) from Lender i.e. SREI Equipment Finance Limited.</li><li>Trade receivables form a major part of the current assets and net worth. Failure to manage its trade receivables could have an adverse effect on the company net sales, profitability, cash flow and liquidity.</li><li>The company success depends in large part upon its qualified personnel, including the senior management, directors and key personnel and its ability to attract and retain them when necessary.</li><li>Its business involves usage of manpower and any unavailability of the employees or shortage of contract labour or any strikes, work stoppages, increased wage demands by workmen or changes in regulations governing contractual labour may have an adverse impact on its cash flows and results of operations.</li><li>The company is subject to strict quality requirements and any failure to comply with quality standards may lead to cancellation of existing and future orders, product recalls, product liability, warranty claims and other disputes and claims.</li><li>The company operates in a highly competitive industry and increased competition may lead to a reduction in its revenues, reduced profit margins or a loss of market share.</li><li>The company is entirely dependent on third-party logistics service providers for the transportation of raw materials and finished products.</li><li>The company inability to accurately forecast demand for the products, and accordingly manage the inventory, may have an adverse effect on its business, cash flows, financial condition and results of operations.</li><li>Failures to innovate its product offerings and adapting to technological advancements and changes may have an adverse effect on the business and results of operations.</li><li>The company continue to explore the diversification of the business and the implementation of new products. These diversifications and its other strategic initiatives may not be successful, which may adversely affect the company business and results of operations.</li><li>The company insurance coverage may prove inadequate to satisfy future claims against it.</li><li>Risk of Loss or Damage During Exhibition and High Marketing Costs.</li><li>There are outstanding litigations by and against the Company which if determined against it, could adversely impact financial conditions.</li><li>Its registered office and Factory is rented premises and consequently, the company is required to comply with certain requirements given under leave and license agreements.</li><li>The average cost of acquisition of Equity Shares by the Promoters may be less than the Offer Price.</li><li>The company has certain amount of outstanding indebtedness, which requires significant cash flows to service and are subject to certain conditions and restrictions in terms of the financing arrangements, which restricts its ability to conduct the company business and operations in the manner of the desire.</li><li>There is a risk that manufactured machinery may remain unsold, leading to excess inventory.</li><li>The company has one manufacturing unit located in Uttarakhand and any localized social unrest, natural disaster breakdown of services, or any other natural disaster in and around Uttarakhand or any disruption in production at, or disruption to power sources or any temporary shutdown of the manufacturing facility, or breakdown or failure of machinery may have a material adverse effect on its business, results of operations, financial condition and cash flows.</li><li>There is a risk associated with the uncertainty of the SME IPO and the potential buyback obligation that could arise from entering into a Share Subscription cum Shareholders' agreement.</li><li>The company has certain contingent liabilities as on date of this Draft Red Herring Prospectus that has not been provided for in the Company's financials which if materialized, could adversely affect the financial condition.</li><li>There have been instances in the past where the company has not made certain regulatory filings with the RoC and there were certain instances of discrepancies in relation to certain statutory filings and corporate records of the Company.</li><li>There have been some instances of delays in the filing of statutory and regulatory dues in the past with the various government authorities.</li><li>The Logo which is being used by it is yet not registered with the Trademarks, additionally Potential Trademark Registration challenges due to similar names.</li><li>the company derived a significant portion of its revenue from the sale of the key product i.e. crushing and screening plants. Any decline in the sales of the key product could have an adverse effect on the business, results of operations and financial condition.</li><li>The company success depends heavily upon its individual Promoters and Directors for their continuing services, strategic guidance and financial support.</li><li>The company has experienced significant working capital requirements in past and may continue to experience in future also. If the experience insufficient cash flows from the operations or are unable to borrow to meet its working capital requirements, it may materially and adversely affect its business, cash flows and results of operations.</li><li>The objects of the Offer has not been appraised by any bank or financial institution, and its cannot assure you that the objects of the Offer will be achieved within the expected time frame, or at all, and any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.</li><li>Its intend to utilise a portion of the Net Proceeds for funding of the capital expenditure requirements. The ccompany is yet to place orders for such capital expenditure machinery.</li><li>The Company has a negative cash flow in its operating activities for the five months period ended August 31, 2024 and for the financial year ended March 31, 2023, investing activities for the five months period ended August 31, 2024 and Financing activities for the financial years ended March 31, 2024 and March 31, 2022, details of which is given below. Sustained negative cash flow could impact its growth and business.</li><li>Any issue of the specified securities by the issuer within the last twelve months at a price lower than the issue price (other than bonus issues).</li><li>Its Promoters, some of the Directors, Senior Management and Key Managerial Personnel are interested in the Company's performance in addition to their remuneration and reimbursement of expenses.</li><li>The company Promoters has provided a personal guarantee for loans availed by it.</li><li>The company proposed expansion plans relating to its manufacturing facility are subject to the risk of unanticipated delays in implementation and cost overruns.</li><li>The Company has unsecured loans which is repayable on demand. Any demand from lenders for repayment of such unsecured loans may adversely affect its cash flows.</li><li>The company Promoters and Promoter Group will be able to exercise significant influence and control over its operations after the offer and may have interests that are different from those of the company other shareholders.</li><li>Its Promoters, certain of the Directors, Senior Management and Key Managerial Personnel are interested in the Company's performance in addition to their remuneration and reimbursement of expenses.</li><li>The company has entered into related party transactions in the past and may continue to do so in the future.</li><li>The directors of the Company do not have any experience in the Listed Company.</li><li>Its business is operating under various laws which require it to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business. Any inability to obtain, maintain or renew the requisite statutory and regulatory permits and approvals for its business operations could materially and adversely affect the company business, prospects, results of operations and financial condition.</li><li>The company ability to pay dividends in the future will depend upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.</li><li>Brand recognition is important to the success of the company business, and its inability to build and maintain the brand names will harm its business, financial condition, and results of operation.</li><li>Major fraud lapses of internal control or system failures could adversely impact the company's business.</li><li>Delay in delivery of the products due to breakdown of machinery and /or equipment.</li><li>The company actual results could differ from the estimates and projections used to prepare its financial statements.</li><li>Changes in technology may render the company current technologies obsolete or require it to make substantial investments.</li><li>Some of the KMPs is associated with the company for less than one year.</li><li>The Equity Shares have never been publicly traded, and, after the issue, the equity shares may experience price and volume fluctuations, and an active trading market for the equity shares may not develop. Further, the price of the equity shares may be volatile, and you may be unable to resell the equity shares at or above the issue price, or at all.</li><li>There are restrictions on daily weekly monthly movement in the price of the equity shares, which may adversely affect the shareholder's ability to sell for the price at which it can sell, equity shares at a particular point in time.</li><li>Industry information included in this Draft Red Herring Prospectus has been derived from publicly available industry reports and/or websites. There can be no assurance that such third-party statistical financial and other industry information is either complete or accurate.</li><li>QIB and Non-Institutional Investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.</li><li>Investors will not be able to sell immediately on an Indian stock exchange any of the Equity Shares they purchase in the Offer.</li><li>Its may not receive final listing and trading approvals from the Stock Exchanges, and you will not be able to sell immediately on an Indian Stock Exchange any of the Equity Shares you are allotted in the Offer.</li><li>The Offer price of the company Equity Shares may not be indicative of the market price of the Equity shares after the offer.</li><li>Sale of Equity Shares by its Promoters or other significant shareholder(s) may adversely affect the Trading price of the Equity Shares.</li><li>Limited Track Record and Experience of the company & its promoter in Manufacturing and Selling of Crushing, Screening and Washing Plants</li><li>Dependence on Customer Retention and Irregular Business Frequency.</li><li>We have experienced significant working capital requirements in past and may continue to experience in future also. If we experience insufficient cash flows from our operations or are unable to borrow to meet our working capital requirements, it may materially and adversely affect our business, cash flows and results of operations.</li><li>Project Execution and Delivery Risk in Sale of Food/Lactose Processing Plant.</li><li>Risk Related to Product Rejection, Return, Re-sales, and Operational Delays in Capital Equipment Transactions</li><li>We are subject to strict quality requirements and any failure to comply with quality standards may lead to cancellation of existing and future orders, product recalls, product liability, warranty claims and other disputes and claims.</li><li>We derived a significant portion of our revenue from the sale of our key product i.e. crushing and screening plants. Any decline in the sales of our key product could have an adverse effect on our business, results of operations and financial condition.</li><li>Our success depends in large part upon our qualified personnel, including our senior management, directors and key personnel and our ability to attract and retain them when necessary.</li><li>Lack of External Quality Certification May Adversely Impact Market Access, Customer Confidence, and Regulatory.</li><li>The past statutory auditors for FY 2022-23 and current peer reviews & statutory auditors for FY 2023-24 and FY 2024-25 of the company are not same.</li><li>There is a risk that manufactured machinery may remain unsold, leading to excess inventory.</li><li>Our inability to effectively manage our inventory levels, particularly in light of our long production cycle and customer-specific dispatch terms, may adversely impact our business operations and financial performance.</li><li>We have one manufacturing unit located in Uttarakhand and any localized social unrest, natural disaster breakdown of services, or any other natural disaster in and around Uttarakhand or any disruption in production at, or disruption to power sources or any temporary shutdown of our manufacturing facility, or breakdown or failure of machinery may have a material adverse effect on our business, results of operations, financial condition and cash flows.</li><li>Our Company has a negative cash flow in its operating for the financial year ended March 31, 2023, investing activities for the financial year ended March 31, 2024 and Financing activities for the financial years ended March 31, 2024 details of which are given below. Sustained negative cash flow could impact on our growth and business.</li><li>Risk of Loss or Damage During Exhibition and High Marketing Costs.</li><li>The Company is dependent on few suppliers for purchase of product. Loss of any of these large suppliers may affect our business operations.</li><li>We have entered into related party transactions in the past and may continue to do so in the future.</li><li>Risk of Unsustainability of PAT Margin Increase in FY 24.</li><li>Non-Receipt of No Objection Certificate (NOC) from Lender i.e. SREI Equipment Finance Limited.</li><li>Trade receivables form a major part of our current assets and net worth. Failure to manage our trade receivables could have an adverse effect on our net sales, profitability, cash flow and liquidity.</li><li>Our success depends in large part upon our qualified personnel, including our senior management, directors and key personnel and our ability to attract and retain them when necessary.</li><li>Our business involves usage of manpower and any unavailability of our employees or shortage of contract labour or any strikes, work stoppages, increased wage demands by workmen or changes in regulations governing contractual labour may have an adverse impact on our cash flows and results of operations.</li><li>We are subject to strict quality requirements and any failure to comply with quality standards may lead to cancellation of existing and future orders, product recalls, product liability, warranty claims and other disputes and claims.</li><li>Any Shortfall in raising additional capital could adversely affect our growth plans, operations and financial performance.</li><li>We face foreign exchange risks that could adversely affect our results of operations and cash flows.</li><li>Compliance with changes in safety, health and environment laws and regulations may adversely affect our business, prospects, financial condition and results of operations.</li><li>Our Statutory Auditors had qualified its audit report in the past which may impact the reliability on the internal control adopted by the company.</li><li>Our inability to manage growth could disrupt our business and reduce our profitability. We propose to expand our business activities in coming financial years</li><li>Our Company have in the past undertaken and may in the future undertake acquisitions, investments, joint ventures or other strategic alliances, which may involve significant risks and may adversely affect our business, financial condition and results of operations.</li><li>Our order book may not be indicative of our future operating results, and we may not realize all of the revenue reflected in our order book.</li><li>Under-utilization of our manufacturing capacities and an inability to effectively utilize our existing manufacturing capacities could have an adverse effect on our business, future prospects and future financial performance.</li><li>We operate in a highly competitive industry and increased competition may lead to a reduction in our revenues, reduced profit margins or a loss of market share.</li><li>Our company is entirely dependent on third-party logistics service providers for the transportation of raw materials and finished products.</li><li>Our inability to accurately forecast demand for our products, and accordingly manage our inventory, may have an adverse effect on our business, cash flows, financial condition and results of operations.</li><li>Failure to innovate our product offerings and adapting to technological advancements and changes may have an adverse effect on our business and results of operations.</li><li>We continue to explore the diversification of our business and the implementation of new products. These diversifications and our other strategic initiatives may not be successful, which may adversely affect our business and results of operations.</li><li>Our insurance coverage may prove inadequate to satisfy future claims against us.</li><li>Risk of Loss or Damage During Exhibition and High Marketing Costs.</li><li>There are outstanding litigations by and against our Company which if determined against us, could adversely impact financial conditions.</li><li>Our registered office and Factory are rented premises and consequently, we are required to comply with certain requirements given under leave and license agreements.</li><li>The average cost of acquisition of Equity Shares by the Promoters may be less than the Offer Price.</li><li>We have certain amount of outstanding indebtedness, which requires significant cash flows to service and are subject to certain conditions and restrictions in terms of our financing arrangements, which restricts our ability to conduct our business and operations in the manner we desire.</li><li>There is a risk that manufactured machinery may remain unsold, leading to excess inventory.</li><li>We have one manufacturing unit located in Uttarakhand and any localized social unrest, natural disaster breakdown of services, or any other natural disaster in and around Uttarakhand or any disruption in production at, or disruption to power sources or any temporary shutdown of our manufacturing facility, or breakdown or failure of machinery may have a material adverse effect on our business, results of operations, financial condition and cash flows.</li><li>There is a risk associated with the uncertainty of the SME IPO and the potential buyback obligation that could arise from entering into a Share Subscription cum Shareholders' agreement.</li><li>We have certain contingent liabilities as on date of this Red Herring Prospectus that have not been provided for in our Company's financials which if materialized, could adversely affect our financial condition.</li><li>There have been instances in the past where we have not made certain regulatory filings with the RoC and there were certain instances of discrepancies in relation to certain statutory filings and corporate records of our Company.</li><li>There have been some instances of delays in the filing of statutory and regulatory dues in the past with the various government authorities.</li><li>The Logo which is being used by us is yet not registered with the Trademarks, additionally Potential Trademark Registration challenges due to similar names.</li><li>We derived a significant portion of our revenue from the sale of our key product i.e. crushing and screening plants. Any decline in the sales of our key product could have an adverse effect on our business, results of operations and financial condition.</li><li>Our success depends heavily upon our individual Promoters and Directors for their continuing services, strategic guidance and financial support.</li><li>We have experienced significant working capital requirements in past and may continue to experience in future also. If we experience insufficient cash flows from our operations or are unable to borrow to meet our working capital requirements, it may materially and adversely affect our business, cash flows and results of operations.</li><li>The objects of the Offer have not been appraised by any bank or financial institution, and we cannot assure you that the objects of the Offer will be achieved within the expected time frame, or at all, and any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.</li><li>We intend to utilise a portion of the Net Proceeds for funding our capital expenditure requirements. We are yet to place orders for such capital expenditure machinery.</li><li>Any issue of the specified securities by the issuer within the last twelve months at a price lower than the issue price (other than bonus issues).</li><li>Our Promoters, some of our Directors, Senior Management and Key Managerial Personnel, are interested in our Company's performance in addition to their remuneration and reimbursement of expenses.</li><li>Our Promoters has provided a personal guarantee for loans availed by us.</li><li>Our proposed expansion plans relating to our manufacturing facility are subject to the risk of unanticipated delays in implementation and cost overruns.</li><li>Our Promoters and Promoter Group will be able to exercise significant influence and control over our operations after the offer and may have interests that are different from those of our other shareholders.</li><li>We have entered into related party transactions in the past and may continue to do so in the future.</li><li>The directors of our Company do not have any experience in the Listed Company.</li><li>Our business is operating under various laws which require us to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business. Any inability to obtain, maintain or renew the requisite statutory and regulatory permits and approvals for our business operations could materially and adversely affect our business, prospects, results of operations and financial condition.</li><li>Our ability to pay dividends in the future will depend upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.</li><li>Brand recognition is important to the success of our business, and our inability to build and maintain our brand names will harm our business, financial condition, and results of operation.</li><li>Major fraud lapses of internal control or system failures could adversely impact the company's business.</li><li>Delay in delivery of the products due to breakdown of machinery and /or equipment.</li><li>Our actual results could differ from the estimates and projections used to prepare our financial statements.</li><li>Changes in technology may render our current technologies obsolete or require us to make substantial investments.</li><li>Some of the KMPs is associated with our company for less than one year.</li></ul>

The Issue type of Taurian MPS Ltd is Book Building - SME.

The minimum application for shares of Taurian MPS Ltd is 1600.

The total shares issue of Taurian MPS Ltd is 2487200.

Initial public offer of upto 24,87,200 equity shares of face value of Rs. 10.00 each ("Equity Shares") of Taurian MPS Limited (the "Company" or the "Offerer") for cash at a price of Rs. 171 per equity share including a share premium of Rs. 161 per equity share (the "Offer Price") aggregating to Rs. 42.53 crores ("the Offer"). The issue includes a reservation of upto 2,99,200 equity shares aggregating to Rs. 5.12 crores will be reserved for subscription by market maker to the offer (the "Market Maker Reservation Portion"). The offer less the market maker reservation portion i.e. net offer of upto 21,88,000 equity shares aggregating to Rs. 37.41 crores (the "Net Offer"). The price band and the minimum bid lot will be decided by the company.