Thaai Casting Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | February 15, 2024 to February 20, 2024 |
| Listing Date | February 23, 2024 |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 73 to ₹ 77 per share |
| Lot Size | 1,600 Shares |
| Total Issue Size | 61,29,600 shares (aggregating up to ₹ 47.20 Cr) |
| Fresh Issue | 61,29,600 shares (aggregating up to ₹ 47.20 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 1,70,00,000 |
| Share holding post issue | 2,31,29,600 |
| Market Maker portion | 3,47,200 shares Giriraj Stock Broking |
About Thaai Casting Limited IPO
Thaai Casting Ltd is a distinguished automotive ancillary company with IATF 16949:2016 certification, specializing in High Pressure Die Casting, as well as the precision Machining of both Ferrous and Non-Ferrous materials and Induction heating and quenching. Founded by Mr. Sriramulu Anandan, a seasoned professional with extensive expertise in Pressure Die Casting and Machining Processes, their business model is firmly rooted in a B2B approach, catering to leading entities in the automotive components sector. Their product portfolio encompasses a diverse range of Automobile components, including Engine Mounting Support Brackets, Transmission Mounts, Fork Shift and Housing, Armature – Steering Wheel, Electrical Connectors, YFG Base Frame (Right-hand drive side/Left-hand drive side), Housing, Top Cover, and more.
Thaai Casting IPO is a book-built issue of Rs 47.20 crores. The issue is entirely a fresh issue of 61.3 lakh shares. Thaai Casting IPO price band is set at ₹73 to ₹77 per share. The minimum lot size for an application is 1600 Shares GYR Capital Advisors Private Limited is the book running lead manager of the Thaai Casting IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market makers for Thaai Casting IPO are Giriraj Stock Broking and Commodity Mandi.
Objectives of Thaai Casting IPO
The objectives of the Issue are: -
- ● To meet the Capital Expenditure.
- ● To meet the General Corporate Purposes.
- ● To meet the Issue Expenses.
Thaai Casting Limited IPO Review
TCL is a distinguished automotive ancillary company and has posted growth in its top and bottom lines for the reported periods. The management is confident of improving the trends established so far. Based on FY24 annualized earnings, the issue appears fully priced. Investors may park funds for the medium to long term rewards. The closing date is extended by a day to February 20, 2024 due to Bank Holiday on February 19, 2024.
Thaai Casting Limited IPO Financial Information
Latest Revenue
4,848.91
₹ Crore
Profit After Tax
860.93
₹ Crore
Net Worth
4,116.94
₹ Crore
Total Borrowing
7,830.03
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Oct 2023 | 14,638.25 | 4,848.91 | 860.93 | 4,116.94 | 7,830.03 | ||||
| 31 Mar 2023 | 5,498.52 | 4,911.64 | 503.71 | 1,617.31 | 2,985.10 | ||||
| 31 Mar 2022 | 3,752.29 | 3,841.94 | 115.40 | 894.84 | 2,351.15 | ||||
| 31 Mar 2021 | 3,752.29 | 2,048.70 | 40.33 | 473.46 | 1,313.51 | ||||
| Amount in ₹ Crore | |||||||||
Thaai Casting Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 13% |
| Debt/Equity | 1.85 |
| RoNW | 40.10% |
| P/BV | 8.1 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.96 | 6.38 |
| P/E (x) | 25.99 | 12.07 |
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Competitive Strengths
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Thaai Casting Limited IPO Timeline
| IPO Open Date | Thursday, February 15, 2024 |
| IPO Close Date | Tuesday, February 20, 2024 |
| Basis of Allotment | Wednesday, February 21, 2024 |
| Initiation of Refunds | Wednesday, February 21, 2024 |
| Credit of Shares to Demat | Thursday, February 22, 2024 |
| Listing Date | Friday, February 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 20, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹123,200 |
| Retail (Max) | 1 | 1600 | ₹123,200 |
| HNI (Min) | 2 | 3,200 | ₹246,400 |