12-Feb-2024
2 mins read
Thaai Casting Limited IPO 2024 is open for subscription from Thursday, February 15, 2024 and will close on Monday, February 19, 2024. The price band is decided at Rs 73 to 77 per share. The minimum lot size of this application for the retail category is 1600 shares. Whereas, the minimum lot size for HNI category is 2 lots consisting of 3200 shares. The minimum amount of investment required for retail category investors is Rs 1,23,200 (77 x 1600 shares). However for HNI category the minimum investment amount is required Rs 2,46,400 (77 x 3200 shares).
Thaai Casting Limited IPO 2024 is a book-built issue of Rs 47.20 crores. The issue is entirely a fresh issue of 61.3 lakh equity shares. The allotment for this IPO is expected to be finalized on Tuesday, February 20, 2024. Thaai Casting Limited IPO will list on NSE SME and listing date fixed on Thursday, February 22, 2024. The book running lead manager of Thaai Casting Limited IPO is GYR Capital Advisors Private Limited. The registrar for this IPO is Purva Sharegistry India Private Limited. The market maker for the Thaai Casting Limited IPO is Giriraj Stock Broking and Commodity Mandi.
About Thaai Casting Limited
Thaai Casting incorporated in 2010, it is an automotive ancillary company specialize in High-Pressure Die casting, as well as the precision of the Machining of both ferrous and non-ferrous materials. The business model is firmly rooted in a B2B approach, catering to leading entities in the automotive component sector. Company’s portfolio has a diverse range of automobile components like Engine mounting support brackets, Transmission Mounts, Fork shifts and Housing Armature – Steering Wheel, Electrical Connectors, YFG Base Frame, Housing, Top Cover, and more. The company has a die making facility for new product development according to the required specifications. As of September 2023, the company employs 132 people in various departments.
Objectives of the Issue
The important objective of this IPO is to raise capital from the public by diluting the equity. The net proceeds from this issue will be used to meet the capital expenditure of the company. Other than this, the funds will be used to meet the general corporate purposes and issue expenses.
Financial Performance of Thaai Casting Limited
Company’s revenue increased by 27.84% and profit after tax increased by 336.49% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31-Oct-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 8,188.82 | 5,498.52 | 3,752.29 | 2,379.19 |
| Revenue | 2,888.93 | 4,911.64 | 3,841.94 | 2,048.70 |
| Profit After Tax | 557.12 | 503.71 | 115.4 | 40.33 |
| Net Worth | 2,320.78 | 1,617.31 | 894.84 | 473.46 |
| Reserves and Surplus | 620.78 | |||
| Total Borrowing | 4,410.07 | 2,985.10 | 2,351.15 | 1,313.51 |
| Amt in Rs. Lakhs |
Other Important Details of Thaai Casting Limited IPO
| IPO Date | February 15, 2024 to February 19, 2024 |
| Listing Date | 22-Feb-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 73 to Rs 77 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 6,129,600 shares (amounting to Rs 47.20 Crore) |
| Fresh Issue | 6,129,600 shares (amounting to Rs 47.20 Crore) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 17,000,000 |
| Shareholding post issue | 23,129,600 |
| Market Maker portion | 347,200 shares |
| Giriraj Stock Broking | |
| Commodity Mandi |
Lot Size of Thaai Casting Limited IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1600 | Rs 123,200 |
| Retail (Max) | 1 | 1600 | Rs 123,200 |
| HNI (Min) | 2 | 3,200 | Rs 246,400 |
IPO Reservation of Thaai Casting Limited
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Anchor Investors Details
| Bid Date | 14-Feb-24 |
| Shares Offered | 1,734,400 |
| Anchor Portion Size (In Cr.) | 13.35 |
| Anchor lock-in period end date for 50% shares (30 Days) | 21-Mar-24 |
| Anchor lock-in period end date for remaining shares (90 Days) | 20-May-24 |
Promoters of Thaai Casting Limited and Their Holdings
The Promoters of the company are Sriramulu Anandan, Anandan Shevaani and Chinraj Venkatesan.
| Shareholding Pre Issue | 86.50% |
| Shareholding Post Issue |
Time-Table of Thaai Casting Limited IPO 2024
| IPO Open Date | Thursday, February 15, 2024 |
| IPO Close Date | Monday, February 19, 2024 |
| Basis of Allotment | Tuesday, February 20, 2024 |
| Initiation of Refunds | Wednesday, February 21, 2024 |
| Credit of Shares to Demat | Wednesday, February 21, 2024 |
| Listing Date | Thursday, February 22, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 19, 2024 |
Key Performance Indicator of Thaai Casting Limited IPO 2024
| KPI | Values |
| ROCE | 13% |
| Debt/Equity | 1.85 |
| RoNW | 40.10% |
Lead Manager(s) of Thaai Casting Limited IPO 2024
The lead manager for Thaai Casting Limited IPO is GYR Capital Advisors Private Limited.
How to Apply for Thaai Casting Limited IPO 2024
Wait for the public issue to open for subscription, then click on this link to apply for the Thaai Casting Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check Allotment Status of Thaai Casting Limited IPO 2024
The registrar for Thaai Casting Limited IPO is Purva Sharegistry India Private Limited. To check your allotment status, please click on this link below https://www.purvashare.com/
FAQs
- What is Thaai Casting Limited IPO 2024?
Thaai Casting Limited IPO 2024 is a book-built issue of Rs 47.20 crores. The issue is entirely a fresh issue of 61.3 lakh equity shares. The price band is decided at Rs 73 to 77 per share. The minimum lot size of this application for the retail category is 1600 shares. Thaai Casting Limited IPO will list on NSE SME and listing date fixed on Thursday, February 22, 2024.
- Who are the lead managers for the Thaai Casting Limited IPO 2024?
GYR Capital Advisors Private Limited are appointed as the lead managers for the IPO.
- What is the role of Purva Sharegistry India Private Limited in this IPO?
Purva Sharegistry India Private Limited is the registrar for the Thaai Casting Limited handling the IPO’s administrative aspects.
- How can I apply for the Thaai Casting Limited IPO 2024?
The public subscription of this IPO will open on February 15, 2024. Visit Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The net proceeds from this issue will be used to meet the capital expenditure of the company. Other than this, the funds will be used to meet the general corporate purposes and issue expenses.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Thaai Casting Limited IPO 2024 by visiting here https://www.purvashare.com/
- What is the financial performance of Thaai Casting Limited?
Company’s revenue increased by 27.84% and profit after tax increased by 336.49% between the financial year ending with March 31, 2023 and March 31, 2022.