NEW DELHI Balaji results, an IT tackle & Peripherals Company, has filed draft papers for IPO with the request controller Sebi. The company is in the business of manufacturing, branding, and distributing products under its brand’ Foxin’. The public issue consists of a fresh issue of equity shares worth up to Rs 120 crore and an offer- for- trade (OFS) of over to 7.5 million equity shares by the protagonist and dealing shareholders.
The company may also consider a pre-IPO placement adding up to Rs 24crores.However, the fresh issue size will be reduced, if similar placement is completed. Dealing shareholders for the OFS include Rajendra Seksaria( over to shares) and Rajendra Seksaria HUF( over to shares). The offer also includes a reservation for a subscription by eligible workers.
The proceeds from its fresh allocation worth Rs86.60 crores is proposed to be utilised for backing incremental working capital conditions and general commercial purposes. West Bengal, Tamil Nadu, Maharashtra, Karnataka, and Kerala states inclusively reckoned for59.35 per cent of the company’s earnings in FY22.
The company’s manufacturing installation in Howrah has four product lines, adding up to a total installed capacity of 216 lakh units in FY22. As of June 30, 2022, it vended its products in 28 countries and five union homes through a network of 3,726 dealers. Balaji results’ profit from operations fell 0.6 per cent to Rs482.25 crore for FY22 from Rs483.48 crore in FY21, primarily due to normalization post easing of Covid 19 lockdown restrictions, while profit for FY22 stood at Rs15.39 crore.
About Balaji Solutions Limited
Rajendra Seksaria is the founder promoter of Balaji Solutions Limited. He has been overseeing the company operations of BSL as the Managing Director since its incorporation in 2001. In a career that spans close to three decades, Rajendra has been acknowledged in the Indian IT Distribution Industry for his Vision and Commitment. Leveraging his significant learning of sustainable excellence, he has been leading the team at Balaji Solutions to emerge as a major player in the IT Distribution Industry in India.
COMMENCEMENT OF BSL (2001) Balaji Solutions Limited was founded in 2001 in Kolkata (West Bengal) as a distributing company. We catered to IT Hardware & Mobile Distribution in India. With time we expanded and in alliance with numerous multibillion global brands, we started distributing a wider array of IT Hardware Peripherals, Imaging & Laptop Consumables, and Mobile Accessories.
INCEPTION OF BRAND FOXIN (2006) Foxin our in-house Brand was launched in the year 2006, offering a wide range of IT hardware and Electronics products which in a very short period has positioned itself favorably in the Indian market and now aspiring for Global Penetration.
THE SMART ADVANCEMENT- LAUNCHING MOBILE ACCESSORIES (2017) Foxin Mobile Accessories Vertical was launched in early 2017 which aims to function as a separate Division with its Prime Focus on USB Data Cables, Power Adaptors, Powerbanks, Wired Earphones, Wired Headphones, and Bluetooth Compatibles Devices like Neckband, Headsets, True Wireless Stereo (TWS), Speakers, etc. Foxin Compatible Printer Toner Vertical was launched in 2017 catering to PAN India customers.
THE BSL FACTORY (2019) The company capitalized its Experience and Profound Understanding of the Indian Market and started its Manufacturing Unit in 2019 at Kolkata, West Bengal, specializing in USB data Cable, USB Wall Chargers, Power Banks for Mobile Phones, Earphones, etc.
MISSION & VISION
Take the organization to the widest possible spectrum of presence and deliver the finest quality of customer satisfaction, through infinite levels of advanced and contemporary solutions” A name to reckon with in the field of manufacturing. To constantly evolve and leave an imprint for the future to follow. To evolve as an accomplished in diversification, as per future planning in process. To commit towards ensuring & enhancing customer relation, customer retention & sales.
“Create industry benchmarks and trends through superior quality standards and exceptional innovations, steering the way for unstoppable growth and global leadership.” Being among the top 10 manufacturing industry of IT & telecom hardware products on the national platform with an array of selected brands and their entire product range. Our Vision is to connect every Indian with most affordable Mobile technologies, which create opportunity for their growth and development of the country.