Striders Impex IPO

Company Inception and Corporate History

Striders Impex Limited was originally incorporated as Striders Impex Private Limited on April 28, 2021, under the Companies Act, 2013. The company transitioned into a public limited entity on July 28, 2025, following shareholder approval, reflecting its readiness to access capital markets and scale operations.

The transformation from a private to public structure was strategically aligned with:

• Expansion of international trade operations

• Strengthening governance standards

• Preparing for listing on the NSE Emerge (SME) Platform

Key Milestones

Registered Office and Corporate Presence

The Mumbai location offers strategic proximity to:

• Major ports (JNPT)

• Logistics hubs

• Trade finance institutions

Industry and Sector of Operations

Products and Services Offered

Striders Impex Limited operates as a merchant exporter and importer, focusing on sourcing, trading, and distributing diversified consumer and lifestyle products across geographies.

Core Offerings Include:

• International sourcing of goods

• Domestic wholesale distribution

• Cross-border trade facilitation

• Vendor and logistics coordination

The company functions primarily as an asset-light trading enterprise, relying on supplier networks rather than owning manufacturing facilities.

Industry Overview – Indian Import-Export Trading Sector

India’s import-export (IMPEX) industry is a crucial contributor to GDP and foreign exchange earnings. The sector benefits from:

• Government export incentives

• Trade liberalization

• Digital customs and logistics reforms

Market Size and Growth Trends

Regulatory Landscape

The industry is regulated by multiple authorities including:

• Directorate General of Foreign Trade (DGFT)

• Customs Act, 1962

• Foreign Trade Policy (FTP) 2023

• SEBI (for listed entities)

Recent policy thrusts supporting companies like Striders Impex:

• RoDTEP Scheme

• Digital ICEGATE clearance

• Simplified export documentation

Future Outlook

The medium-term outlook remains structurally positive for agile trading companies with diversified sourcing.

Nature of Business

Striders Impex Limited operates as a B2B trading company, acting as an intermediary between:

• Overseas suppliers

• Domestic distributors and wholesalers

Value Chain Positioning

Global Manufacturers → Striders Impex → Domestic Distributors → End Retailers

Key Business Characteristics

Target Customers

• Wholesale distributors

• Retail chains

• Institutional buyers

• Export counterparties

The company focuses on repeat orders and relationship-driven trade, reducing customer concentration risk.

Striders Impex Limited operates within a multi-layer regulatory framework, essential for lawful trading and listing.

Major Applicable Laws

Compliance Status

• Regular ROC filings

• Statutory audits conducted

• SEBI-compliant disclosures in RHP

• GST and customs registrations active

Business Risks

Financial Risks

Operational Risks

• Logistics delays

• Regulatory non-compliance

• Geopolitical trade restrictions

The company mitigates these through diversified sourcing and conservative credit policies.

Promoter Details

The promoters bring experience in:

• Trading

• Supply chain coordination

• Business development

Promoter Contribution

Promoters hold the required minimum promoter contribution, locked-in as per SEBI norms.

Striders Group Structure

These entities support:

• Overseas sourcing

• Regional trade execution

• Distribution services

Board of Directors and KMP

The leadership combines strategic oversight with operational execution.

Governance Framework

Striders Impex Limited follows governance standards prescribed under:

• Companies Act, 2013

• SEBI (LODR) Regulations

Key Board Committees

These committees enhance transparency and investor confidence.

Outstanding Litigation Overview

As per disclosures under Section VII – Legal and Other Information, Striders Impex Limited, its promoters, and group entities are not involved in any litigation that could materially affect business operations or financial position.

Summary of Legal Status

The absence of material litigation significantly reduces regulatory overhang risk for prospective investors.

Striders Impex Limited operates in a highly regulated import-export environment, requiring multiple registrations and approvals.

Key Licenses and Registrations

All approvals are valid and subsisting, and no renewals critical to operations are pending as of the RHP date.

Restated Financial Performance (Standalone)

(₹ in Lakhs)

Statement of Profit & Loss

Key Insight:
The company demonstrates strong revenue CAGR with improving margins, indicating operating leverage and better cost management.

Balance Sheet Snapshot

(₹ in Lakhs)

Nature of Borrowings

The company uses working capital facilities to support its trading operations.

Borrowing Profile (FY2025)

Borrowings are primarily secured against current assets, consistent with a trading business model.

Cash Flow Summary

(₹ in Lakhs)

Interpretation

• Negative operating cash flow reflects working capital expansion

• Financing inflows align with revenue growth

• Typical pattern for high-growth trading companies

Profitability Ratios

Liquidity & Solvency

Insight:
Despite high leverage, the company maintains acceptable liquidity for a fast-growing trading business.

Management’s View on Performance

Management attributes growth to:

• Expansion of supplier base

• Strong distributor relationships

• Efficient logistics coordination

Key Challenges Identified

Growth Strategy

• Expand product categories

• Strengthen international sourcing

• Improve cash conversion cycle

• Increase institutional customer base

Objects of the Issue

The IPO proceeds from the Fresh Issue will be used as follows:

Strategic Importance

• Reduces dependence on debt

• Improves liquidity

• Supports revenue scale-up

Valuation Methodology

The issue price is determined based on:

• Earnings Per Share (EPS)

• Net worth

• Peer comparison

• Growth trajectory

Key Metrics (FY2025)

The pricing aligns with SME sector valuation norms.

Capital Structure – Pre & Post Issue

Impact of IPO

• Equity base expands

• Promoter stake diluted but remains controlling

• Improved capital adequacy

Post completion of the IPO, the shareholding structure of Striders Impex Limited will reflect a balanced ownership mix, ensuring promoter control while enabling public participation.

Expected Post-Issue Shareholding

Key Observation:
Promoters continue to retain a strong controlling stake, ensuring strategic continuity.

Dividend Philosophy

The company has adopted a conservative dividend policy, prioritizing:

• Business growth

• Working capital needs

• Balance sheet strengthening

Policy Highlights

Given the company’s high growth phase, profits are expected to be largely reinvested rather than distributed.

Taxation for Resident Investors (Indicative)

Key Notes

• No Dividend Distribution Tax (DDT)

• TDS applicable on dividend payouts

• SME shares taxed similar to mainboard equities

(Investors are advised to consult tax advisors for individual circumstances.)

Nature of Transactions

The company has entered into routine business transactions with related parties, primarily involving:

• Subsidiary entities

• Promoter-linked service arrangements

Disclosure Summary

All related party transactions:

• Are disclosed in financial statements

• Are approved by the Audit Committee

• Follow arm’s length pricing norms

Material Contracts Related to IPO

Business Contracts

• Supplier arrangements

• Logistics contracts

• Banking & credit facility agreements

These agreements ensure smooth IPO execution and operational continuity.

Issue Structure

Investor Allocation

Equity shareholders of Striders Impex Limited enjoy statutory and contractual rights.

Key Shareholder Rights

These rights are governed by:

• Companies Act, 2013

• Articles of Association

• SEBI regulations

Mandatory Disclosures Covered

SME-Specific Disclosures

• Market maker appointment

• Lock-in of promoter shares

• Migration norms to mainboard

Striders Impex Limited IPO represents a high-growth SME trading company with:

• Strong revenue CAGR

• Improving profitability

• Asset-light business model

• Promoter-led execution

• IPO proceeds aimed at working capital optimization

However, investors should note:

• High working capital intensity

• Moderate leverage

• Thin trading margins inherent to the industry