Ramdevbaba Solvent IPO is a book built issue of Rs 50.27 crores. The issue is entirely a fresh issue of 59.14 lakh shares.
Ramdevbaba Solvent IPO opens for subscription on April 15, 2024 and closes on April 18, 2024. The allotment for the Ramdevbaba Solvent IPO is expected to be finalized on Friday, April 19, 2024. Ramdevbaba Solvent IPO will list on NSE SME with tentative listing date fixed as Tuesday, April 23, 2024.
Ramdevbaba Solvent IPO price band is set at ₹80 to ₹85 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹136,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹272,000.
Ramdevbaba Solvent IPO Details
| IPO Date | April 15, 2024 to April 18, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹80 to ₹85 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,913,600 shares (aggregating up to ₹50.27 Cr) |
| Fresh Issue | 5,913,600 shares (aggregating up to ₹50.27 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 16,211,750 |
| Share holding post issue | 22,125,350 |
| Market Maker portion | 281,600 shares |
Ramdevbaba Solvent IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Ramdevbaba Solvent IPO Timeline (Tentative Schedule)
Ramdevbaba Solvent IPO opens on April 15, 2024, and closes on April 18, 2024.
| IPO Open Date | Monday, April 15, 2024 |
| IPO Close Date | Thursday, April 18, 2024 |
| Basis of Allotment | Friday, April 19, 2024 |
| Initiation of Refunds | Monday, April 22, 2024 |
| Credit of Shares to Demat | Monday, April 22, 2024 |
| Listing Date | Tuesday, April 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 18, 2024 |
About Ramdevbaba Solvent Limited
Established in 2008, Ramdevbaba Solvent Limited specializes in the production and distribution of physically refined rice bran oil.
The company’s operations encompass manufacturing, distribution, marketing, and sales of rice bran oil to leading FMCG companies like Mother Dairy Fruit & Vegetable Private Limited, Marico Limited, and Empire Spices and Foods Ltd. Additionally, under its own brands “Tulsi” and “Sehat,” the company markets and sells rice bran oil through thirty-eight (38) distributors, who further distribute to various retailers in Maharashtra.
In addition to rice bran oil, the company manufactures de-oiled rice bran (DORB), a by-product of the rice bran oil extraction process. DORB is sold as livestock, poultry, and fish feed across multiple states, including Maharashtra, Goa, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Karnataka, Kerala, and Tamil Nadu. Other by-products like fatty acid, lecithin, gum, spent soil, and wax are also commercially traded.
Objects of the Issue (Ramdevbaba Solvent IPO Objectives)
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
- Setting up of new manufacturing facility;
- Repayment in full or in part, of certain outstanding borrowings;
- Funding the working capital requirements of the company; and
- General corporate purposes.
Key Performance Indicator
The market capitalization of Ramdevbaba Solvent IPO is Rs 188.07 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROCE | 10.76% |
| Debt/Equity | 1.46 |
| RoNW | 14.24% |
| P/BV | 1.83 |
| PAT Margin (%) | 1.79 |
