Rajputana Industries IPO: Check these details before applying

• Rajputana Industries IPO is a book-built issue worth up to Rs 23.88 crores.

• This bidding opens on July 30 and closes on August 1, 2024.

• Rajputana Industries SME IPO price band is set at Rs 36 – Rs 38 per share.

• The minimum amount required for retail investors is Rs 1,14,000.

Rajputana Industries IPO: Synopsis

Rajputana Industries is open for subscription from Tuesday, July 30, 2024, and closing on Thursday, August 1, 2024. The price band for this IPO is set to Rs 36 – Rs 38 per share.

Rajputana Industries IPO is offering a book-built public issue of an entirely fresh issue of Rs 62.85 lakh equity shares. The allotment for this new IPO is expected to be finalised on Friday, August 2, 2024. This IPO will be listed on the NSE SME segment on Tuesday, August 6, 2024.

The minimum lot size set for the retail category is 1 lot, i.e., 3000 shares. For retail investors, the minimum and maximum investment amount required is Rs 114,000. However, for the HNI category, the maximum lot size is 2 lots, i.e., 6,000 shares amounting to Rs 228,000.

The IPO is managed by Holani Consultants Private Limited, which is the book-running lead manager of this public issue. The company has appointed Bigshare Services Private Limited as the registrar for the issue.

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Rajputana Industries Limited: About the Company

Rajputana Industries Limited, established in 2011, manufactures a wide range of non-ferrous metal products, including copper, aluminium, brass, and various alloys from recycled scrap metal. The company processes scrap metal into billets at its manufacturing facility in Sikar, Rajasthan, which are then sold or used to manufacture products such as copper rods, aluminium rods, copper mother tubes, brass wires, and super-enamelled copper conductors.

The company is expanding its product portfolio to include cables primarily used in residential construction and as underwater cables for motors. As of July 10, 2024, Rajputana Industries Limited employed 98 full-time staff across various departments.

Rajputana Industries IPO: Objectives

The company intends to use the Net Proceeds from the Fresh Issue to fund several objectives. These include meeting the company's working capital requirements, purchasing a grid solar power generating system, and supporting general corporate purposes.

Rajputana Industries IPO: Other Important Details

Time-Table of Rajputana Industries IPO

Rajputana Industries IPO: Financial Metrics (Amt in Rs Lakhs)

The company's revenue was reported to be Rs 327.01 crore for the year ended March 2024, which shows increment of 28.11% as compared to March 2023. The profit after tax rose by 65.54% for the year ended March 2024 compared to March 2023.

Minimum Investment: Lot Size Details

Promoters of Rajputana Industries Limited and Their Holdings

The company's promoters are M/s Shera Energy Limited, M/s Isha Infrapower Private Limited, Mrs. Shivani Sheikh, and Mr. Sheikh Naseem. The promoters collectively held 92.15% of the company's shares. However, post-IPO, changes in their combined shareholding have not yet been disclosed.

Rajputana Industries: Strength of Company

1. The company has a diverse product portfolio, including copper, aluminium, brass, and various alloys.

2. They practice sustainable manufacturing by using recycled scrap metal.

3. The company is strategically expanding into cable production, targeting construction and underwater motor cables.

4. The company's net profit increased by 65.54% for FY24.

FAQs

1.  What are the core details available of Rajputana Industries IPO?

Rajputana Industries IPO is a book-built issue of Rs 23.88 crore. This upcoming IPO offering entirely a fresh issue of 62.85 lakh equity shares. The allotment for this new IPO is expected to be finalised on Friday, August 2, 2024.

2.  How can I apply for the Rajputana Industries IPO?

The public subscription of this new IPO opens on July 30 and closes on August 1, 2024. Click here to initiate the application process.

3.  Who are the lead managers for the Rajputana Industries IPO?

Holani Consultants Private Limited was appointed as the book-running lead manager for the IPO.

4.  Who is appointed as the registrar for this IPO?

Bigshare Services Limited has been appointed as the registrar for this public issue.

5.  How will the net proceeds from the IPO be utilised?

The company intends to use the Net Proceeds from the Fresh Issue to fund several objectives. These include meeting the company's working capital requirements, purchasing a grid solar power generating system, and supporting general corporate purposes.

6.  How can I check the allotment status of the IPO?

Investors who applied for IPO can check the allotment status of Rajputana Industries IPO by visiting here, for further updates, follow Bigul. 

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