24-Apr-2024
2 mins read
Racks and Rollers IPO is open for subscription starting Tuesday, April 30, 2024, and closing on Friday, May 3, 2024. The price band of this upcoming IPO is decided at Rs 73 to Rs 78 per share. The minimum lot size of this application for the retail category is 1600 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 3200 shares. The minimum investment required for retail category investors is Rs 1,24,800 (78 x 1600 shares). However, for the HNI category, the minimum investment amount required is Rs 2,49,600 (78 x 3200 shares). Racks and Rollers IPO is a book-built issue of Rs 29.95 crores. This upcoming IPO is a completely fresh issue of 38.4 lakh equity shares.The allotment for this new IPO is expected to be finalised on Monday, May 6, 2024. Racks and Rollers IPO will be listed on BSE SME, and the listing date is fixed on Wednesday, May 8, 2024. The book-running lead manager of Racks and Rollers IPO is Oneview Corporate Advisors Private Limited. The registrar for this IPO is Integrated Registry Management Services Private Limited.
About Racks and Rollers Company Profile
Racks and Rollers is a brand of Storage Technologies & Automation Limited was founded in 2010, engaged in the business of storage racking systems. The company manufactures and install metal storage racks, automated warehouses and other storage solutions. They provide various solutions for various industries including oil and gas, automotive, aerospace, food and beverages, pharmaceuticals, textiles, retail and FMCG. Racks and Rollers has successfully led the development of high quality products and impeccable client services with a proven track record of excellence in a short span of time. The company’s manufacturing facility is supported by 56,250 sq. feet of space in Bangalore and 20,000 sq. feet of storage space. Storage Technologies & Automation has executed more than 2500 projects and has served more than 900 customers worldwide. The company has a presence in over 30 countries across the globe. They had a total team of 166 permanent employees and 94 contract employees.
Objectives of Racks and Rollers IPO
The net amount received from this initial public offer will be used to meet the company's working capital requirements. In addition, general corporate purposes will also be fulfilled.
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Financials of Racks and Rollers Limited (Amt in Rs Lakhs)
Racks and Rollers posted revenue of Rs 5,137.09 lakhs and net profit of Rs 358.91 lakhs for the period ending 31 October 2023. Between the FY ending 31 March 2023 and 31 March 2022, the company’s revenue increased by 16.42%, and PAT increased by 335.72%.
| Period Ended | 31-Oct-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 6,375.77 | 4,004.01 | 3,567.70 | 3,113.04 |
| Revenue | 5,317.09 | 8,137.12 | 6,989.72 | 4,852.38 |
| Profit After Tax | 358.91 | 48.3 | -20.49 | 118.42 |
| Net Worth | 953.52 | 594.61 | 546.31 | 566.81 |
| Reserves and Surplus | 653.52 | 294.61 | 246.31 | 466.81 |
| Total Borrowing | 1,632.53 | 931.63 | 871.1 | 347.48 |
Other Important Details of Racks and Rollers IPO
| IPO Date | April 30, 2024 to May 3, 2024 |
| Listing Date | 8-May-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 73 to Rs 78 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,840,000 shares amounting to Rs 29.95 crore |
| Fresh Issue | 3,840,000 shares amounting to Rs 29.95 crore |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Shareholding pre issue | 9,000,000 |
| Shareholding post issue | 12,840,000 |
Time-Table of Racks and Rollers IPO
| IPO Open Date | Tuesday, April 30, 2024 |
| IPO Close Date | Friday, May 3, 2024 |
| Basis of Allotment | Monday, May 6, 2024 |
| Initiation of Refunds | Tuesday, May 7, 2024 |
| Credit of Shares to Demat | Tuesday, May 7, 2024 |
| Listing Date | Wednesday, May 8, 2024 |
| Cut-off time for UPI mandate | 5 PM on May 3, 2024 |
Lot Size of Racks and Rollers IPO
| Application | Lots | Shares | Amount |
| Retail - minimum | 1 | 1600 | Rs 124,800 |
| Retail - maximum | 1 | 1,600 | Rs 124,800 |
| HNI - minimum | 2 | 3,200 | Rs 249,600 |
IPO Reservation of Racks and Rollers Limited
| Investor Category | Shares Offered |
| QIB Shares | Not more than 50 percent of the Issue |
| Retail Shares | Not less than 35 percent of the Issue |
| NII (HNI) Shares | Not less than 15 percent of the Issue |
Key Performance Indicator of Racks and Rollers Limited IPO
| KPI | Values |
| ROE | 46.37% |
| ROCE | 22.52% |
| RoNW | 37.64% |
| PAT Margin | 6.78 |
Promoters of Racks and Rollers Limited and Their Holdings
The promoters of Racks and Rollers company are Mr. Khasim Sait, Mr. Mohammad Arif Abdul Gaffar Dor, Mr. Hanif A Khatri, Mr. Syed Azeem, Mr. Afzal Hussain and Mr. Nuumaan Khasim.
| Shareholding Pre Issue | 100 percent |
| Shareholding Post Issue | - |
Lead Manager(s) of Racks and Rollers IPO
The lead manager for Racks and Rollers IPO is Oneview Corporate Advisors Private Limited.
How do you apply for the Racks and Rollers IPO?
Wait for the public issue to open for subscription, then click here to apply for the Racks and Rollers Limited IPO with Bigul.
How do you check the allotment status of Racks and Rollers IPO?
The registrar for Racks and Rollers IPO is Registry Management Services Private Limited. To check your allotment status, please click here.
FAQs
1. What is the Racks and Rollers IPO?
Racks and Rollers IPO is a book-built issue of Rs 29.95 crores. This upcoming IPO is a completely fresh issue of 38.4 lakh equity shares.The allotment for this new IPO is expected to be finalised on Monday, May 6, 2024. The price band of this upcoming IPO is decided at Rs 73 to Rs 78 per share.
2. Who are the lead managers for the Racks and Rollers Limited IPO?
Oneview Corporate Advisors Private Limited is appointed as the lead manager for the IPO.
3. What is the role of Integrated Registry Management Services Limited in this IPO?
Integrated Registry Management Services Private Limited is the registrar for Racks and Rollers Limited, handling the IPO's administrative aspects.
4. How can I apply for the Racks and Rollers IPO?
The public subscription of this new IPO will open on April 30, 2024. Click here to initiate the application process.
5. How will the net proceeds from the IPO be utilised?
The net amount received from this initial public offer will be used to meet the company's working capital requirements. In addition, general corporate purposes will also be fulfilled.
6. How can I check the allotment status of the IPO?
Investors who applied can check the allotment status of the Racks and Rollers Limited IPO by visiting here. For further updates follow Bigul.
7. What is the financial performance of Racks and Rollers Limited?
Racks and Rollers posted revenue of Rs 5,137.09 lakhs and net profit of Rs 358.91 lakhs for the period ending 31 October 2023. Between the FY ending 31 March 2023 and 31 March 2022, the company’s revenue increased by 16.42%, and PAT increased by 335.72%.
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