Sheetal Universal : SME Issue - Prospectus (Public Issuer Filing)

Prospectus

Dated: November 28, 2023

Fixed Price Issue

Please read Section 26 of the Companies Act, 2013

(Scan this code to view offer Document)

SHEETAL UNIVERSAL LIMITED

Corporate Identity Numbers: U51219GJ2015PLC084270

REGISTERED OFFICE

CORPORATE

CONTACT

TELEPHONE AND EMAIL

WEBSITE

OFFICE

PERSON

Office No. 348, 2nd Floor, ISCON Mall, 150 Feet Ring

-

Mrs. Khushbu

Mobile No: [phone]

www.sheetaluniversal.com

Road, Rajkot - 360005, Gujarat, India.

Kalpit Shah

Email Id:[e-mail]

PROMOTERS OF OUR COMPANY: MR. HIREN VALLABHBHAI PATEL AND MRS. KAJAL HIREN PATEL

DETAILS OF THE ISSUE

TYPE

FRESH ISSUE SIZE

OFS SIZE

TOTAL ISSUE SIZE

ELIGIBILITY

(BY NO. OF SHARES OR

(IN ₹ LAKHS)

BY AMOUNT IN ₹)

3400000 Equity Shares

3400000 Equity Shares

THIS ISSUE IS BEING MADE IN TERMS OF

Fresh Issue

aggregating to ₹ 2,380.00

Nil

aggregating to ₹

CHAPTER IX OF THE SEBI (ICDR)

Lakhs

2,380.00 Lakhs

REGULATIONS, 2018 AS AMENDED.

DETAILS OF OFFER FOR SALE, SELLING SHAREHOLDERS AND THEIR AVERAGE COST OF ACQUISITION: NOT APPLICABLE AS THE ENTIRE ISSUE

CONSTITUTES FRESH ISSUE OF EQUITY SHARES

RISK IN RELATION TO THE FIRST ISSUE

The face value of the Equity Shares is ₹ 10/- each and the Issue Price is 7.00 times of the face value of the Equity Shares. The Issue Price (determined and justified by our Company in consultation with the Lead Manager as stated in chapter titled "Basis for Issue Price" beginning on Page No. 90 should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed. No assurance can be given regarding an active or sustained trading in the Equity Shares or regarding the price at which the Equity Shares will be traded after listing.

GENERAL RISKS

Investments in Equity and Equity-related securities involve a degree of risk and investors should not invest any funds in this Issue unless they can afford to take the risk of losing their entire investment. Investors are advised to read the risk factors carefully before taking an investment decision in the Issue. For taking an investment decision, investors must rely on their own examination of our Company and the Issue including the risks involved. The Equity Shares issued in the Issue have not been recommended or approved by the Securities and Exchange Board of India ("SEBI"), nor does SEBI guarantee the accuracy or adequacy of the Prospectus. Specific attention of the investors is invited to the section titled "Risk Factors" beginning on Page No. 24 of this Prospectus.

ISSUER'S ABSOLUTE RESPONSIBILITY

Our Company, having made all reasonable inquiries, accepts responsibility for and confirms that this Prospectus contains all information with regard to our Company and the Issue, which is material in the context of the Issue, that the information contained in this Prospectus is true and correct in all material aspects and is not misleading in any material respect, that the opinions and intentions expressed herein are honestly held and that there are no other facts, the omission of which makes this Prospectus as a whole or any of such information or the expression of any such opinions or intentions, misleading in any material respect.

LISTING

The Equity Shares Issued through this Prospectus are proposed to be listed on the Emerge Platform of National Stock Exchange of India Limited (NSE EMERGE) in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018, as amended from time to time. For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited ("NSE").

LEAD MANAGER TO THE ISSUE

NAME AND LOGO	CONTACT PERSON	EMAIL & TELEPHONE
	Mr. Nikhil Shah	Email:[e-mail]
	Tel. No: 079 4918 5784
Beeline Capital Advisors Private Limited
	REGISTRAR TO THE ISSUE
NAME AND LOGO	CONTACT PERSON	EMAIL & TELEPHONE
	Mr. Vinayak Morbale	Email:[e-mail]
	Tel. No: 022-62638200
Bigshare Services Private Limited
	BID/ISSUE PERIOD

BID/ISSUE OPENS ON: MONDAY, DECEMBER 04, 2023

BID/ISSUE CLOSES ON: WEDNESDAY, DECEMBER 6, 2023

Prospectus

Dated: November 28, 2023

Fixed Price Issue

Please read Section 26 of the Companies Act, 2013

SHEETAL UNIVERSAL LIMITED

Corporate Identity Numbers: U51219GJ2015PLC084270

Our Company was originally incorporated as "Sheetal Universal Limited" as a Public Limited Company under the provisions of the Companies Act, 2013 vide Certificate of Incorporation dated August 20, 2015, issued by the Assistant Registrar of Companies, Gujarat. The Corporate Identification Number of our Company is U51219GJ2015PLC084270. Registered Office is located at Office No. 348, 2nd Floor, ISCON Mall, 150 Feet Ring Road, Rajkot - 360005, Gujarat, India. For details of change in name and registered office of our Company, please refer to chapter titled "History and Corporate Matters" beginning on page no. 155 of this Prospectus.

Registered Office: Office No. 348, 2nd Floor, ISCON Mall, 150 Feet Ring Road, Rajkot - 360005, Gujarat, India.

Website: www.sheetaluniversal.comE-Mail:[e-mail]; Telephone No: [phone] Company Secretary and Compliance Officer: Mrs. Khushbu Kalpit Shah

PROMOTERS OF OUR COMPANY: MR. HIREN VALLABHBHAI PATEL AND MRS. KAJAL HIREN PATEL

THE ISSUE

PUBLIC ISSUE OF 3400000 EQUITY SHARES OF FACE VALUE OF ₹ 10/- EACH OF SHEETAL UNIVERSAL LIMITED ("SHEETAL UNIVERSAL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF ₹ 70 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF ₹ 60 PER EQUITY SHARE (THE "ISSUE PRICE") AGGREGATING TO ₹ 2,380.00 LAKHS ("THE ISSUE"), OF WHICH UPTO 172000 EQUITY SHARES OF FACE VALUE OF ₹ 10/- EACH FOR CASH AT A PRICE OF ₹ 70 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF ₹ 60 PER EQUITY SHARE AGGREGATING TO ₹ 120.40 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. NET ISSUE OF UPTO 3228000 EQUITY SHARES OF FACE VALUE OF ₹ 10/- EACH AT A PRICE OF ₹ 70 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF ₹ 60 PER EQUITY SHARE AGGREGATING TO ₹ 2,259.60 LAKHS IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 29.68% AND 28.18% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

THIS ISSUE IS BEING IN TERMS OF CHAPTER IX OF THE SEBI (ISSUE OF CAPITAL AND DISCLOSURE REQUIERMENTS) REGULATIONS, 2018, AS AMENDED FROM TIME TO TIME. For further details, please refer chapter titled "Terms of The Issue" beginning on Page No. 225 of this Prospectus.

In terms of the SEBI Circular No. CIR/CFD/POLICYCELL/11/2015, dated November 10, 2015 and the all-potential investors shall participate in the Issue only through an Application Supported by Blocked Amount ("ASBA") process providing details about the bank account which will be blocked by the Self-Certified Syndicate Banks ("SCSBs") for the same. Further pursuant to SEBI circular bearing no. SEBI/HO/CFD/DIL2/CIR/P/2019/76 dated June 28, 2019, for implementation of Phased II for UPI facility, which is effective from July 01, 2019, all potential Bidders (except Anchor Investors) are required to mandatorily utilize the Application Supported by Blocked Amount ("ASBA") process providing details of their respective ASBA accounts or UPI ID (in case of RIIs), in which the corresponding Application Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable. For details, please refer chapter titled "Issue Procedure" beginning on Page No. 233 of this Prospectus.

THE FACE VALUE OF THE EQUITY SHARES IS ₹ 10/- EACH AND THE ISSUE PRICE IS ₹ 70 THE ISSUE PRICE IS 7.00 TIMES OF THE FACE VALUE.

RISK IN RELATION TO THE FIRST ISSUE

This being the first Public Issue of our Company, there has been no formal market for the securities of our Company. The face value of the shares is ₹ 10/- per Equity Shares and the Issue price is 7.00 times of the face value. The Issue Price (as determined by our Company in consultation with the Lead Manager) as stated in the chapter titled "Basis for Issue Price" beginning on Page No. 90 of this Prospectus should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed. No assurance can be given regarding an active or sustained trading in the equity shares of our Company nor regarding the price at which the Equity Shares will be traded after listing.

GENERAL RISKS

Investments in equity and equity-related securities involve a degree of risk and investors should not invest any funds in this Issue unless they can afford to take the risk of losing their investment. Investors are advised to read the risk factors carefully before taking an investment decision in this offering. For taking an investment decision, investors must rely on their own examination of our Company and the Issue including the risks involved. The Equity Shares offered in the Issue have neither been recommended nor approved by Securities and Exchange Board of India nor does Securities and Exchange Board of India guarantee the accuracy or adequacy of this Prospectus . Specific attention of the investors is invited to the section titled "Risk Factors" beginning on Page No. 24 of this Prospectus.

ISSUER'S ABSOLUTE RESPONSIBILITY

The Issuer, having made all reasonable inquiries, accepts responsibility for and confirms that this Prospectus contains all information with regard to our Company and the Issue, which is material in the context of the Issue, that the information contained in this Prospectus is true and correct in all material aspects and is not misleading in any material respect, that the opinions and intentions expressed herein are honestly held and that there are no other facts, the omission of which makes this Prospectus as a whole or any of such information or the expression of any such opinions or intentions misleading in any material respect.

LISTING

The Equity Shares offered through this Prospectus are proposed to be listed on EMERGE Platform of National Stock Exchange of India Limited ("NSE EMERGE"), in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018, as amended from time to time. Our Company has received an In-Principle Approval letter dated October 30, 2023 from National Stock Exchange of India Limited ("NSE") for using its name in this offer document for listing our shares on the EMERGE Platform of National Stock Exchange of India Limited ("NSE EMERGE"). For the purpose of this Issue, the designated Stock Exchange is the NSE.

LEAD MANAGER	REGISTRAR TO THE ISSUE

BEELINE CAPITAL ADVISORS PRIVATE LIMITED	BIGSHARE SERVICES PRIVATE LIMITED
SEBI Registration Number: INM000012917	SEBI Registration Number: INR000001385
Address: B/1311-1314, Shilp Corporate Park Near Rajpath Club, Rajpath Rangoli Road,	Address: Office No. S6-2, 6th Floor, Pinnacle business Park, Next to Ahura Center,
S.G. Highway, Ahmedabad, Gujarat 380054.	Mahakali Caves Road, Andheri (East), Maharashtra-400093, India.
Telephone Number: 079 4918 5784	Tel. Number: 022-62638200
Email Id:[e-mail]	Fax- 022-62638299
Investors Grievance Id: [e-mail]	Email Id:[e-mail]
Website:www.beelinemb.com	Investors Grievance Id:[e-mail]
Contact Person: Mr. Nikhil Shah	Website:www.bigshareonline.com
CIN: U67190GJ2020PTC114322	Contact Person: Mr. Vinayak Morbale
	CIN: U99999MH1994PTC076534
BID/ISSUE PERIOD
BID/ISSUE OPENS ON: MONDAY, DECEMBER 04, 2023	BID/ISSUE CLOSES ON: WEDNESDAY, DECEMBER 6, 2023

TABLE OF CONTENTS
SECTION I - GENERAL	1
DEFINITIONS AND ABBREVIATIONS	1
PRESENTATION OF FINANCIAL, INDUSTRY AND MARKET DATA	12
FORWARD LOOKING STATEMENTS	13
SECTION II - SUMMARY OF PROSPECTUS	14
SECTION III - RISK FACTORS	24
SECTION IV - INTRODUCTION	40
THE ISSUE	40
SUMMARY OF FINANCIAL INFORMATION	41
SECTION V - GENERAL INFORMATION	42
SECTION VI - CAPITAL STRUCTURE	49
SECTION VII - PARTICULAR OF THE ISSUE	77
OBJECTS OF THE ISSUE	77
BASIS FOR ISSUE PRICE	90
STATEMENT OF POSSIBLE TAX BENEFITS	98
SECTION VIII - ABOUT THE COMPANY	101
INDUSTRY OVERVIEW	101
BUSINESS OVERVIEW	125
KEY INDUSTRY REGULATIONS	146
HISTORY AND CORPORATE STRUCTURE	155
OUR MANAGEMENT	159
OUR PROMOTERS AND PROMOTERS GROUP	174
OUR SUBSIDIARIES	178
DIVIDEND POLICY	180
SECTION IX - FINANCIAL STATEMENTS	181
RESTATED FINANCIAL INFORMATION	181
OTHER FINANCIAL INFORMATION	182
MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL POSITION AND RESULTS OF
OPERATIONS	184
CAPITALIZATION STATEMENT	193
SECTION X - LEGAL AND OTHER INFORMATION	194
OUTSTANDING LITIGATIONS AND MATERIAL DEVELOPMENTS	194
GOVERNMENT APPROVALS	200
SECTION XI - INFORMATION WITH RESPECT TO GROUP COMPANIES / ENTITIES	208
SECTION - XII - OTHER REGULATORY AND STATUTORY DISCLOSURES	212
SECTION XIII - ISSUE RELATED INFORMATION	225
TERMS OF THE ISSUE	225
ISSUE STRUCTURE	231
ISSUE PROCEDURE	233
RESTRICTIONS ON FOREIGN OWNERSHIP OF INDIAN SECURITIES	286
SECTION XIV - DESCRIPTION OF EQUITY SHARES AND TERMS OF THE ARTICLES OF
ASSOCIATION	289
SECTION XV - OTHER INFORMATION	304
MATERIAL CONTRACTS AND DOCUMENTS FOR INSPECTION	304
DECLARATION	306

SECTION I - GENERAL

DEFINITIONS AND ABBREVIATIONS

This Prospectus uses certain definitions and abbreviations which, unless the context otherwise indicates or implies, shall have the meaning as provided below. References to any legislation, act, regulation, rule, guideline or policy shall be to such legislation, act, regulation, rule, guideline or policy, as amended, supplemented or re- enacted from time to time.

The words and expressions used in this Prospectus but not defined herein, shall have, to the extent applicable, the meaning ascribed to such terms under the Companies Act, the SEBI ICDR Regulations, the SCRA, the Depositories Act or the rules and regulations made there under. Notwithstanding the foregoing, terms used in of the chapters titled "Industry Overview", "Key Industry Regulations", "Statement of Possible Tax Benefits", "Restated Financial Information", "Basis for Issue Price", "History and Corporate Structure", "Other Regulatory and Statutory Disclosures", "Outstanding Litigations and Material Developments" and "Description of Equity Shares and Terms of the Articles of Association" beginning on Page Nos. 101, 146, 98, 181, 90, 155, 212, 194 and 289, respectively, of this Prospectus shall have the meaning ascribed to such terms in such sections.

GENERAL AND COMPANY RELATED TERMS

Term

Description

"Sheetal

Universal",

"our

Sheetal Universal Limited, a public limited company, registered under the

Company",

"we",

"us",

Companies Act, 2013 and having its registered office at Office No. 348, 2nd

"our", "the Company", "the

Floor, ISCON Mall, 150 Feet Ring Road, Rajkot - 360005, Gujarat, India.

Issuer

Company"

or

"the

Issuer"

Our Promoters

Mr. Hiren Vallabhbhai Patel and Mrs. Kajal Hiren Patel

Promoters' Group

Companies, individuals and entities (other than companies) as defined under

Regulation 2(1) (pp) of the SEBI (ICDR) Regulations, 2018 which is provided

in the chapter titled "Our Promoters and Promoter's Group" beginning on Page

No. 174 of this Prospectus.

COMPANY RELATED TERMS

Term

Description

Articles

/

Articles

of

Articles of Association of our Company.

Association/AOA

Audit Committee

The Audit Committee of the Board of Directors constituted in accordance with

Section 177 of the Companies Act, 2013. For details, please refer chapter titled

"Our Management" beginning on Page No. 159 of this Prospectus.

Auditor of our Company /

The Statutory Auditors of our Company, being V.V. Patel & Co., Chartered

Joint

Statutory Auditor

/

Accountants.

Peer Review Auditor

The Peer Review Auditor of company, M/s N G S T and Associates, Chartered

Accountants holding a valid Peer Review certificate as mentioned in the section

titled "General Information" beginning on Page No. 42 of this Prospectus.

Bankers to the Company

To be updated on filing of Prospectus with RoC.

Board of Directors / Board /

The Board of Directors of Sheetal Universal Limited unless otherwise specified.

BOD

Companies Act

The Companies Act, 1956/2013 as amended from time to time.

CIN

Corporate

Identification

Number

of

our

Company

i.e.,

U51219GJ2015PLC084270.

CMD

The Managing Director of our company, being Mr. Hiren Vallabhbhai Patel

Chief

Financial

Officer

The Chief Financial officer of our Company, being Mr. Madhav Prabhudas

(CFO)

Rajpopat.

Company

Secretary

and

The Company Secretary and Compliance Officer of our Company, being Mrs.

Compliance Officer (CS)

Khushbu Kalpit Shah.

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Term				Description
Depositories Act		The Depositories Act, 1996, as amended from time to time
DIN				Director Identification Number
Equity Shares		Equity Shares of our Company of face value of ₹ 10/- each unless otherwise
				specified in the context thereof
Equity Shareholders		Persons / Entities holding Equity Shares of Our Company
Executive Director(s)		"Executive Director" means a Whole Time Director as defined in clause (94) of
				section 2 of the Act"
Group Companies		Group Companies as defined under Regulation 2(1)(t) of the SEBI (ICDR)
				Regulations, 2018, Group companies shall include such companies (other than
				our Promoters and Subsidiary) with which there were related party transactions
				as disclosed in the Restated Financial Statements as covered under the applicable
				accounting standards, and as disclosed under section titled "Information with
				respect to Group Companies" beginning on Page No. 208 of this Prospectus.
Independent Director		A Non-executive & Independent Director as per the Companies Act, 2013 and
				the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Indian GAAP		Generally Accepted Accounting Principles in India
ISIN				INE04VX01019
Key Managerial Personnel /	The officer vested with executive power and the officers at the level immediately
Key Managerial Employees	below the Board of Directors as described in the chapter titled "Our
				Management" beginning on Page No. 159 of this Prospectus.
Materiality Policy		The policy on identification of group companies, material creditors and material
				litigation, adopted by our Board on July 11, 2023 in accordance with the
				requirements of the SEBI ICDR Regulations.
MD				Managing Director
MOA/	Memorandum	/	Memorandum of Association of our Company as amended from time to time
Memorandum	of
Association
Non-Residents		A person resident outside India, as defined under FEMA
Nomination and		The Nomination and Remuneration Committee of our Board of Directors
Remuneration Committee	constituted in accordance with Section 178 of the Companies Act, 2013. For
				details, please refer chapter titled "Our Management" beginning on Page No.
				159 of this Prospectus.
Non-Executive Director		A Director not being an Executive Director or an Independent Director.
NRIs	/	Non-Resident	A person resident outside India, as defined under FEMA and who is a citizen of
Indians				India or a Person of Indian Origin under Foreign Outside India Regulations,
				2000.
Registered Office		Office No. 348, 2nd Floor, ISCON Mall, 150 Feet Ring Road, Rajkot - 360005,
				Gujarat, India.
Restated		Financial	The Restated Financial Information of our Company, which comprises the
Statements			Restated Statement of Assets and Liabilities, the Restated Statement of Profit
				and Loss, the Restated Statement of Cash Flows, for the period ended August
				31, 2023 and year ended on March 31, 2023, 2022 and 2021 along with the
				summary statement of significant accounting policies read together with the
				annexures and notes thereto prepared in terms of the requirements of Section 26
				of the Companies Act, the SEBI ICDR Regulations and the Guidance Note on
				Reports in Company Prospectuses (Revised 2019) issued by the ICAI, as
				amended from time to time.
ROC	/	Registrar	of	Registrar of Companies, Ahmedabad
Companies
Stakeholders Relationship	The Stakeholders Relationship Committee of our Board of Directors constituted
Committee			in accordance with Section 178 of the Companies Act, 2013. For details, please

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Term	Description
	refer chapter titled "Our Management" beginning on Page No. 159 of this
	Prospectus.
Whole Time Director	"Whole-time director" includes a director in the whole-time employment of the
(WTD)	company.
ISSUE RELATED TERMS
Terms	Description
Applicant	Any prospective investor who makes an application for Equity Shares in terms
	of this Prospectus
Abridged Prospectus	Abridged Prospectus means a memorandum containing such salient features of
	a Prospectus as may be specified by SEBI in this behalf
Acknowledgement Slip	The slip or document issued by the Designated Intermediary to an Applicant as
	proof of registration of the Application
Application Form	The Form in terms of which the applicant shall apply for the Equity Shares of
	our Company
Application Supported by	An application, whether physical or electronic, used by applicants to make an
Blocked Amount / ASBA	application authorising a SCSB to block the application amount in the ASBA
	Account maintained with the SCSB.
ASBA Account	An account maintained with the SCSB and specified in the application form
	submitted by ASBA applicant for blocking the amount mentioned in the
	application form.
ASBA Bid	A Bid made by an ASBA Bidder
ASBA Form(s)	An application form, whether physical or electronic, used by ASBA Bidders
	Bidding through the ASBA process, which will be considered as the application
	for Allotment in terms of the Prospectus
Allotment Advice	The note or advice or intimation of Allotment, sent to each successful Bidder
	who has been or is to be Allotted the Equity Shares after approval of the Basis
	of Allotment by the Designated Stock Exchange.
Allotment	Issue of the Equity Shares pursuant to the Issue to the successful applicants
Allottee	The successful applicant to whom the Equity Shares are being / have been
	issued
Basis of Allotment	The basis on which Equity Shares will be allotted to successful applicants under
	the Issue and which is described in 'Basis of allotment' under chapter titled
	"Issue Procedure" beginning on Page No. 233 of this Prospectus.
Bankers to the Issue and	Axis Bank Limited
Refund Banker
Bidding Centres	Centres at which the Designated Intermediaries shall accept the Application
	Forms i.e., Designated SCSB Branch for SCSBs, Specified Locations for
	members of the Syndicate, Broker Centres for Registered Brokers, Designated
	RTA Locations for RTAs and Designated CDP Locations for CDPs.
Bid cum Application Form	The form in terms of which the Bidder shall make a Bid, including an ASBA
	Form, and which shall be considered as the application for the Allotment of
	Equity Shares pursuant to the terms of the Prospectus
Bid Lot	2000 Equity Shares and in multiples of 2000 Equity Shares thereafter
Bidder/ Applicants	Any prospective investor who makes a Bid pursuant to the terms of the
	Prospectus and the Bid cum Application Form and unless otherwise stated or
	implied, includes an Anchor Investor
Business Day	Monday to Friday (except public holidays).

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	Terms		Description
	Broker Centers		Broker Centers notified by the Stock Exchanges where investors can submit
			the Application Forms to a Registered Broker. The details of such Broker
			Centers, along with the names and contact details of the Registered Brokers are
			available on the websites of the Stock Exchange
	CAN or Confirmation of	The Note or advice or intimation sent to each successful Applicant indicating
	Allocation Note		the Equity which will be allotted, after approval of Basis of Allotment by the
			designated Stock Exchange
	Client Id		Client Identification Number maintained with one of the Depositories in
			relation to demat account
	Depository		A depository registered with SEBI under the SEBI (Depositories and
			Participants) Regulations, 2018.
	Demographic Details	The demographic details of the Applicants such as their Address, PAN, name
			of the applicant father/husband, investor status, occupation and Bank Account
			details
	Designated Date		The date on which amounts blocked by the SCSBs are transferred from the
			ASBA Accounts, as the case may be, to the Public Issue Account or the Refund
			Account, as appropriate, in terms of this Prospectus, after finalisation of the
			Basis of Allotment in consultation with the Designated Stock Exchange,
			following which the Board of Directors may Allot Equity Shares to successful
			Bidders in the Offer.
	Designated Intermediaries	The members of the Syndicate, sub-syndicate/agents, SCSBs, Registered
			Brokers, CDPs and RTAs, who are categorized to collect Application Forms
			from the Applicant, in relation to the Issue.
	Depository Participant	A Depository Participant as defined under the Depositories Act, 1996
	DP ID		Depository Participant's Identity Number
	Draft Prospectus	The Draft Prospectus dated August 31, 2023 issued in accordance with Section
			26 of the Companies Act filed with the Emerge Platform of NSE under
			SEBI(ICDR) Regulations
	Eligible NRI		NRIs from jurisdictions outside India where it is not unlawful to make an issue
			or invitation under the Issue and in relation to whom this Prospectus constitutes
			an invitation to subscribe to the Equity Shares Allotted herein.
	Emerge Platform of NSE /	The Emerge Platform of NSE for listing of equity shares offered under Chapter
	NSE EMERGE		IX of the SEBI (ICDR) Regulations, 2018 which was approved by SEBI as an
			SME Exchange on September 27, 2011.
	Engagement Letter	The engagement letter dated May 16, 2023 between our Company and the LM
	Fraudulent Borrower	Fraudulent borrower as defined under Regulation 2(1) (lll) of the SEBI ICDR
			Regulations
	Fresh Issue		Fresh issue of 34,00,000 Equity Shares of ₹ 10/- each at ₹ 70 per Equity
			Shareincluding Share Premium of ₹ 60 per Equity Share aggregating to ₹
			2,380.00 Lakhs by Sheetal Universal Limited.
	First Applicant		Applicant whose name appears first in the Application Form in case of a joint
			application form and whose name shall also appear as the first holder of the
			beneficiary account held in joint names or in any revisions thereof
	Foreign Portfolio Investor(s)	Foreign Portfolio Investor as defined under SEBI FPI Regulations
	/ FPIs
	"General	Information	The General Information Document for investing in public issues prepared and
	Document" or "GID"	issued in accordance with the circular no. SEBI / HO / CFD / DIL1 / CIR / P /
			2020 / 37 dated March 17, 2020 and the circular no. SEBI / HO / CFD / DIL2
			/ CIR / P / 2020 / 50 dated March 30, 2020, as amended by SEBI from time to
			time.
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	Terms		Description
	Issue Opening Date	The date on which the Issue opens for subscription.
	Issue Closing date	The date on which the Issue closes for subscription.
	Issue Period		The periods between the Issue Opening Date and the Issue Closing Date
			inclusive of both days and during which prospective Applicants may submit
			their application
	IPO		Initial Public Offering
	Issue / Issue Size / Public	The Public Issue of 34,00,000 Equity Shares of ₹ 10/- each at ₹ 70 per Equity
	Issue		Shares including Share Premium of ₹ 60 per Equity Share aggregating to ₹
			2,380.00 Lakhs by Sheetal Universal Limited.
	Issue Price		The price at which the Equity Shares are being issued by our Company through
			this Prospectus, being ₹ 70 (including share premium of ₹ 60 per Equity Share).
	LM / Lead Manager	Lead Manager to the Issue, in this case being Beeline Capital Advisors Private
			Limited.
	Listing Agreement	Unless the context specifies otherwise, this means the SME Equity Listing
			Agreement to be signed between our company and the EMERGE Platform of
			National Stock Exchange of India Limited ("NSE EMERGE")
	Market Maker		The Market Maker to the Issue, in this case being Spread X Securities Private
			Limited.
	Market Making Agreement	The Agreement entered into between the Market Maker and our Company
			dated November 27, 2023.
	Net Proceeds		Proceeds of the Offer that will be available to our Company, i.e., gross proceeds
			of the Fresh Issue, less Offer expenses to the extent applicable to the Fresh
			Issue.
	NCLT		National Company Law Tribunal
	Net Issue		The Issue (excluding the Market Maker Reservation Portion) of 3228000
			Equity Shares of ₹ 10/- each at ₹ 70 per Equity Share including share premium
			of ₹ 60 per Equity Share aggregating to ₹ 2,259.60 Lakhs by Sheetal Universal
			Limited.
	NPCI		NPCI, a Reserve Bank of India (RBI) initiative, is an umbrella organization for
			all retail payments in India. It has been set up with the guidance and support of
			the Reserve Bank of India (RBI) and Indian Banks Association (IBA).
	Non-Retail	Portion	The remaining portion of the Net Offer, after retails portion, being not more
	including	Qualified	than 50% of the Net issue which shall be available for allocation to NRIIs in
	Institution Buyers (NRII)	accordance with the SEBI ICDR Regulations.
	Net Proceeds		The Issue Proceeds less the Issue related expenses. For further details, please
			refer to the chapter titled "Objects of the Issue" beginning on page 77 of this
			Prospectus.
	Prospectus		The Prospectus, to be filed with the ROC containing, inter alia, the Issue
			opening and closing dates and other information.
	Public Issue Account	An Account of the Company under Section 40 of the Companies Act, 2013
			where the funds shall be transferred by the SCSBs from bank accounts of the
			ASBA Investors
	Qualified	Institutional	The qualified institutional buyers as defined under Regulation 2(1)(ss) of the
	Buyers / QIBs		SEBI ICDR Regulations.
	Refund Account		Account opened / to be opened with a SEBI Registered Banker to the Issue
			from which the refunds of the whole or part of the Application Amount, if any,
			shall be made.
	Registrar / Registrar to the	Registrar to the Issue being Bigshare Services Private Limited.
	Issue
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	Terms				Description
	Regulations			Unless the context specifies something else, this means the SEBI (Issue of
					Capital and Disclosure Requirements) Regulations, 2018.
	Retail	Individual	Investors	Individual investors (including HUFs applying through their Karta and Eligible
	/(RII)				NRI Bidders) who applies or bids for the Equity Shares of a value of not more
					than ₹ 2,00,000/-.
	Retail Portion			The portion of the Net Offer being not less than 50% of the Net Equity Shares
					which shall be available for allocation to RIIs in accordance with the SEBI
					ICDR Regulations.
	Revision Form			The form used by the Applicant, to modify the quantity of Equity Shares or the
					Application Amount in any of their Application Forms or any previous
					Revision Form(s) QIB Applicant and Non-Institutional Applicant are not
					allowed to lower their Application Forms (in terms of quantity of Equity Shares
					or the Application Amount) at any stage. Retail Individual Bidders can revise
					their Application Forms during the Issue Period and withdraw their Application
					Forms until Issue Closing Date.
	Self-Certified		Syndicate	A Self Certified Syndicate Bank registered with SEBI under the SEBI (Bankers
	Bank(s)/ SCSBs			to an Issue) Regulations, 1994 and offers the facility of ASBA, including
					blocking of bank account. A list of all SCSBs is available at
					https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes
					&intmId=35
	Sponsor Bank			The Banker to the Offer registered with SEBI and appointed by our Company
					to act as a conduit between the Stock Exchanges and the NPCI in order to push
					the mandate collect requests and / or payment instructions of the Retail
					Individual Bidders into the UPI and carry out other responsibilities, in terms of
					the UPI Circulars.
	TRS	/	Transaction	The slip or document issued by the Designated Intermediary (only on demand),
	Registration Slip		to the Applicant, as proof of registration of the Application Form.
	Underwriter			The Underwriter to the Issue, in this case being Beeline Capital Advisors
					Private Limited.
	Underwriting Agreement	The Agreement entered into between the Underwriter and our Company dated
					November 25, 2023
	UPI				Unified payment Interface, which is an instant payment mechanism, developed
					by NPCI.
	UPI Circulars			The SEBI circular no. SEBI/HO/CFD/DIL2/CIR/P/2018/138 dated November
					1, 2018, SEBI circular no. SEBI/HO/CFD/DIL2/CIR/P/2019/50 dated April 3,
					2019, SEBI circular no. SEBI/HO/CFD/DIL2/CIR/P/2019/76 dated June 28,
					2019, SEBI Circular no. SEBI/HO/CFD/DIL2/CIR/P/2019/85 dated July 26,
					2019, Circular number SEBI/HO/CFD/DCR2/CIR/P/2019/133 dated
					November 8, 2019, Circular number SEBI/HO/CFD/DIL2/CIR/P/2020/50
					dated	March	30,	2020,	SEBI	circular	no.
					SEBI/HO/CFD/DIL2/CIR/P/2021/2480/1/M dated March 16, 2021, SEBI
					circular no. SEBI/HO/CFD/DIL2/CIR/P/2021/47 dated March 31, 2021, SEBI
					circular no. SEBI/HO/CFD/DIL2/P/CIR/2021/570 dated June 2, 2021 and as
					amended pursuant to SEBI circular no. SEBI/HO/CFD/DIL2/CIR/P/2022/51
					April 20, 2022 and any subsequent circulars or notifications issued by SEBI in
					this regard and any subsequent circulars or notifications issued by SEBI in this
					regard.
	UPI ID				ID created on UPI for single-window mobile payment system developed by the
					NPCI.
	UPI Mandate Request	A request (intimating the Retail Individual Bidder by way of a notification on
					the Mobile App and by way of a SMS directing the Retail Individual Bidder to
					such Mobile App) to the Retail Individual Bidder initiated by the Sponsor Bank
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Terms	Description
	to authorize blocking of funds on the Mobile App equivalent to Bid Amount
	and Subsequent debit of funds in case of Allotment.
UPI Mechanism	The bidding mechanism that may be used by a RII to make a Bid in the Offer
	in accordance with the UPI Circulars.
UPI PIN	Password to authenticate UPI transactions.
Wilful Defaulter	Wilful defaulter as defined under Regulation 2(1) (lll) of the SEBI ICDR
	Regulations.
Working Days	Till Application / Issue closing date:
	All days other than a Saturday, Sunday or a public holiday;
	Post Application / Issue closing date and till the Listing of Equity Shares:
	All trading days of stock exchanges excluding Sundays and bank holidays in
	accordance with the SEBI circular no. SEBI/HO/CFD/DIL/CIR/P/2016/26
	dated January 21, 2016 and the SEBI circular number
	SEBI/HO/CFD/DIL2/CIR/P/2018/138 dated November 1, 2018.
TECHNICAL AND INDUSTRY RELATED TERMS
Term	Description
AE	Advance Estimates
AIBP	Accelerated Irrigation Benefit Programme
BGREI	Bringing Green Revolution to Eastern India
CA	Controlled Atmosphere
Capex	Capital Expenditure
CC	Cash Credit
CCFI	Crop Care Federation of India
CENTEGRO	Center for Environment and Agriculture
CEPA	Comprehensive Economic Partnership Agreement
DAC	Department of Agriculture and Cooperation
DoLR	Department of Land Resources
ECLGS	Emergency Credit Linked Guarantee Scheme
EMDE	emerging markets and developing economies
e-NAM	National Agriculture Market
FaaS	Farming as a Service
IQF	Individual Quick Freezing
IWMP	Integrated Watershed Management Programme
LIC	low-income countries
LLPD	Lakh Litres Per Day
MA	Modified Atmosphere
MFP	Mega Food Parks
MoWR,RD&GR	Ministry of Water Resources, River Development & Ganga Rejuvenation
MSME	Micro, Small, and Medium Enterprises
MT	Metric Ton
NABARD	National Bank for Agriculture and Rural Development
NFHS	National Family Health Survey
NSO	National Statistical Office
NSO	National Statistical Office
OFWM	Farm Water Management
PLISFPI	Production-Linked Incentive Scheme for Food Processing Industry

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