Rappid Valves (India) Limited IPO, GMP, Details, Price, and Review IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 23, 2024 to September 25, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 210 to ₹ 222 per share |
| Lot Size | 600 Shares |
| Total Issue Size | 13,69,800 shares (aggregating up to ₹ 30.41 Cr) |
| Fresh Issue | 13,69,800 shares (aggregating up to ₹ 30.41 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 38,22,184 |
| Shareholding post issue | 51,91,984 |
| Market Maker portion | 69,600 shares Rikhav Securities |
About Rappid Valves (India) Limited IPO, GMP, Details, Price, and Review
Rappid Valves (India) Limited recognized by its brand name “Rapid” or by “Rappid Valves also known as a “Company” is an Engineering Company primarily engaged in the manufacturing of Valve solutions. Their extensive product portfolio encompasses a vast range of valves which includes Ball valves, Gate Valves, Globe Valves and Butterfly Valves.
Check Valves, Double Block valves, Strainer Valves and Marine Valves which are manufactured using ferrous and non-ferrous materials, sizes ranging from 15mm to 600mm catering to diverse requirements. The Company was established in the year 2002 vide Certificate of Incorporation dated May 24, 2002, as a Private Limited Company under the name Rapid Valves (India) Private Limited with Mr Gaurav Vijay Dalal and Ms Usha Vijay Dalal as the initial subscribers of the Company. Their Company changed its name to Rapid Valves (India) Private Limited according to the issuance of a Fresh Certificate of Incorporation dated February 10, 2009.
- Rappid Valves (India) IPO Overview:
- IPO Size: ₹30.41 crores
- Issue Type: Entirely a fresh issue of 13.7 lakh shares
- Issue Dates: Opens on September 23, 2024, and closes on September 25, 2024
- Price Band: ₹210 to ₹222 per share
- Minimum Lot Size: 600 shares
- Lead Manager: Shreni Shares Limited
- Registrar: Link Intime India Private Ltd
- Market Maker: Rikhav Securities
Rappid Valves (India) Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net Issue |
| Retail Shares Offered | Not less than 35.00% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
Rappid Valves (India) IPO Anchor Investors Details
| Bid Date | September 20, 2024 |
| Shares Offered | 389,400 |
| Anchor Portion Size (In Cr.) | 8.64 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 26, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 25, 2024 |
Company & Financials
Incorporated in 2002, Rappid Valves (India) Limited, primarily engages in the manufacturing of Valve solutions. The company offers a wide range of valves, including ball, gate, globe, butterfly, check, double block, strainer and marine valves. These valves are made using ferrous and non-ferrous materials and come in sizes ranging from 15mm to 600mm to meet diverse requirements. The company's manufacturing unit is equipped with a comprehensive range of standard machinery, including conventional and automated CNC machines, VMCs, test benches, EOT cranes, lathes, milling machines, drilling machines, grinders, saws, testers, lapping machines, welders, compressors, buffing machines and testing equipment, supporting a seamless manufacturing process.
Objectives of Rappid Valves (India) IPO
- The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objectives:
- 1. Funding the Capital expenditure for the purchase of new Plant & machinery and Software by the Company.
- 2. Expenditure for the renovation of the registered office and existing manufacturing unit.
- 3. Repayment/prepayment of all or certain of our borrowings availed of by our Company.
- 4. Pursuing inorganic growth initiatives through acquisitions.
- 5. General corporate purposes.
Rappid Valves (India) IPO Review
The company is engaged in the business of manufacturing valve solutions. It posted bumper profits for FY24 i.e. pre-IPO year, that raised eyebrows and concern over its sustainability. It is operating in a highly competitive and fragmented segment. Based on FY24 super earnings, the issue appears relatively fully priced. Small equity post-IPO indicates a longer gestation period for migration. Well-informed investors may park moderate funds for the long term.
Rappid Valves (India) Limited IPO, GMP, Details, Price, and Review Financial Information
Latest Revenue
₹ 3,660.06 Cr
Profit After Tax
₹ 413.27 Cr
Net Worth
₹ 1,221.98 Cr
Total Borrowing
₹ 1,098.3 Cr
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31 Mar 2024 | 2,994.41 | 3,660.06 | 413.27 | 1,221.98 | 1,098.3 |
| 31 Mar 2023 | 1,656.75 | 1,643.42 | 45.56 | 312.21 | 992.65 |
| 31 Mar 2022 | 1,217.6 | 1,215.24 | 28.98 | -24.64 | 977.57 |
| Amount in ₹ Crore | |||||
IPO Estimated Listing Return
Based on the IPO Price of ₹222 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹10045 and a lot size of 600 shares.
Rappid Valves (India) Limited IPO, GMP, Details, Price, and Review IPO GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-09-30 | ₹222 | ₹100 (45.05%) | 2024-09-30 |
Rappid Valves (India) Limited IPO, GMP, Details, Price, and Review Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 53.88% |
| ROCE | 29.88% |
| Debt/Equity | 0.9 |
| RoNW | 33.82% |
| P/BV | 24.89 |
| PAT Margin (%) | 11.32 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.81 | 7.96 |
| P/E (x) | 20.53 | 27.89 |
Frequently Asked Questions
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Competitive Strengths
Rappid Valves (India) Limited IPO, GMP, Details, Price, and Review IPO Timeline
| IPO Open Date | Monday, September 23, 2024 |
| IPO Close Date | Wednesday, September 25, 2024 |
| Basis of Allotment | Thursday, September 26, 2024 |
| Initiation of Refunds | Friday, September 27, 2024 |
| Credit of Shares to Demat | Friday, September 27, 2024 |
| Listing Date | Monday, September 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹ 1,33,200 |
| Retail (Max) | 1 | 600 | ₹ 1,33,200 |
| HNI (Min) | 2 | 1,200 | ₹ 2,66,400 |