Rajputana Industries Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | July 30, 2024 to August 1, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 36 to ₹ 38 per share |
| Lot Size | 3,000 Shares |
| Total Issue Size | 62,85,000 shares (aggregating up to ₹ 23.88 Cr) |
| Fresh Issue | 62,85,000 shares (aggregating up to ₹ 23.88 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 1,59,30,000 |
| Shareholding post issue | 2,22,15,000 |
| Market Maker portion | 3,60,000 shares Holani Consultants |
About Rajputana Industries Limited IPO
Rajputana Industries Limited is primarily engaged in the business of manufacturing a diverse range of non-ferrous metal products primarily Copper, Aluminium, Brass and various alloys from recycling of scrap metal. They procure scrap metal from open markets and convert them into billets made of metals like aluminum, copper brass etc. through recycling in their in-house manufacturing unit situated at SP-3, SKS Industrial Area, Reengus Extension, Sikar, Rajasthan. Once these billets are manufactured from recycled scrap metal, they either sell them to different manufacturing companies or use them to produce products like Copper rods, Aluminium rods, etc.
Rajputana Industries IPO is a book-built issue of Rs 23.88 crores. The issue is entirely a fresh issue of 62.85 lakh shares. Rajputana Industries IPO opens for subscription on July 30, 2024 and closes on August 1, 2024. Rajputana Industries IPO price band is set at ₹36 to ₹38 per share. The minimum lot size for an application is 3000 Shares. Holani Consultants Private Limited is the book-running lead manager of the Rajputana Industries IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Rajputana Industries IPO is Holani Consultants.
Rajputana Industries IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Rajputana Industries IPO Anchor Investors Details
| Bid Date | July 29, 2024 |
| Shares Offered | 1,611,000 |
| Anchor Portion Size (In Cr.) | 6.12 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 1, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 31, 2024 |
Company & Financials
Rajputana Industries Limited was established in 2011 and manufactures a wide range of non-ferrous metal products in copper, aluminum, brass and various alloys from recycled scrap metal. The company manufactures billets of metals such as aluminum, copper, brass, etc. from scrap metal procured from open markets. The scrap metal is processed into billets through recycling at the company's manufacturing facility in Sikar, Rajasthan. The company sells these billets to various manufacturing companies or uses them to manufacture products such as copper rods, aluminum rods, copper mother tubes, brass wires, super-enamelled copper conductors and many other products. These wires, tubes, rods, billets and bars are manufactured in various shapes and sizes as per the requirements of the customers and/or the demand in the market. To expand its product portfolio, the company is entering into the production of cables, which are primarily used in the construction industry, especially in residential construction and as underwater cables for motors. The planned cable plant is to be installed in the company's existing production facility by utilizing the excess space of the production plant.
Objectives of Rajputana Industries IPO
The company proposes to utilize the Net Proceeds of the Fresh Issue towards funding the following objectives:
- 1. Funding the Working capital requirements of the company.
- 2. Purchase of Grid Solar Power Generating System.
- 3. General corporate purposes.
Rajputana Industries IPO Review
The company is engaged in recycling all sorts of scrap into relevant metals. It is now diversifying into the manufacturing of cables. The segment is competitive and fragmented. However, the company has posted growth in its top and bottom lines for the reported periods. Based on FY24 earnings, the issue appears fully priced. Investors may park funds for the long term.
Rajputana Industries Limited IPO Financial Information
Latest Revenue
32,701.29
₹ Crore
Profit After Tax
512.64
₹ Crore
Net Worth
3,257.20
₹ Crore
Total Borrowing
2,936.30
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 14,974.81 | 32,701.29 | 512.64 | 3,257.20 | 2,936.30 | ||||
| 31 Mar 2023 | 11,781.27 | 25,524.98 | 309.67 | 2,743.85 | 3,001.61 | ||||
| 31 Mar 2022 | 10,236.66 | 24,450.96 | 263.77 | 1,712.39 | 2,537.98 | ||||
| Amount in ₹ Crore | |||||||||
Rajputana Industries Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 17.09% |
| ROCE | 30.28% |
| RoNW | 15.74% |
| P/BV | 1.79 |
| PAT Margin (%) | 1.57 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.22 | 2.31 |
| P/E (x) | 11.81 | 16.47 |
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Competitive Strengths
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Rajputana Industries Limited IPO Timeline
| IPO Open Date | Tuesday, July 30, 2024 |
| IPO Close Date | Thursday, August 1, 2024 |
| Basis of Allotment | Friday, August 2, 2024 |
| Initiation of Refunds | Monday, August 5, 2024 |
| Credit of Shares to Demat | Monday, August 5, 2024 |
| Listing Date | Tuesday, August 6, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 1, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹114,000 |
| Retail (Max) | 1 | 3000 | ₹114,000 |
| HNI (Min) | 2 | 6000 | ₹228,000 |