Rachana Infrastructure Limited IPO Detail
Rachana Infrastructure Limited offers infrastructure and civil construction services. Rachana Infrastructure is a mid-size private sector company engaged in the business of construction of roads and highways, irrigation, hydropower project and mining and pipeline construction. Rachana Infrastructure Limited is expanding business in the other states of India like Maharashtra, Madhya Pradesh, Jharkhand and Rajasthan.
The roads project that the company has executed are MPRDC- ADB Loan IV, OPAL Petrochemical Refinery Road work at Dajeh SEZ, C.C Road Construction for MP PWD and Vadodara-Mumbai 6 Lane Highway.
Rachana Infrastructure Limited has an in-house integrated system and machinery for all stages of mining, right from Mining/Extraction of raw material from the mine up to Crushing and Finished Production of Black Trap Stone Aggregate.
Competitive Strength
- Leading Road-focused BOQ and EPC Contractor.
- Management and an integrated in-house project team with strong execution capabilities and extensive industry experience.
- Visible growth through a robust order book.
Company Promoters
Mr. Girishkumar Raval and Mrs. Bhaminiben Mehta are the company promoters.IPO Details
| IPO Opening Date | May 20, 2022 |
| IPO Closing Date | May 25, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹138 per equity share |
| Market Lot | 1000 Shares |
| Min Order Quantity | 1000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹77.97 Cr |
| Fresh Issue | 2,825,000 shares of ₹10 (aggregating up to ₹38.99 Cr) |
| Offer for Sale | 2,825,000 shares of ₹10 (aggregating up to ₹38.99 Cr) |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.04x | 0.21x | 0.13x | |
| Day 2 | - | - | 0.04x | 0.22x | 0.13x | |
| Day 3 | - | - | 0.09x | 0.27x | 0.18x | |
| Day 4 | - | - | 0.09x | 0.29x | 0.19x | |
| Day 5 | - | - | 0.09x | 0.31x | 0.20x | |
| Day 6 | - | - | 0.37x | 0.34x | 0.36x | |
| Day 7 | - | - | 0.47x | 0.36x | 0.42x | |
| Day 8 | - | - | 0.60x | 0.43x | 0.51x | |
| Day 9 | - | - | 1.82x | 0.60x | 1.21x |
IPO Tentative Timetable
The Rachana Infrastructure Limited IPO open date is May 20, 2022, and the close date is May 25, 2022. The issue may list on Jun 03, 2022.
| IPO Open Date | May 20, 2022 |
| IPO Close Date | May 25, 2022 |
| Basis of Allotment Date | May 31, 2022 |
| Initiation of Refunds | Jun 01, 2022 |
| Credit of Shares to Demat Account | Jun 01, 2022 |
| IPO Listing Date | Jun 03, 2022 |
IPO Lot Size
The Rachana Infrastructure Limited IPO market lot size is 1000 shares. A retail-individual investor can apply for up to 1 lots (1000 shares or ₹138000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1000 | ₹138000 |
| Maximum | 1 | 1000 | ₹138000 |
IPO Promoter Holding
| Pre Issue Share Holding | 83.44% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Dec-21 | 8784.50 | 4171.07 | 139.85 |
| 31-Mar-21 | 8043.07 | 10705.67 | 455.31 |
| 31-Mar-20 | 10618.21 | 15840.55 | 597.13 |
| 31-Mar-19 | 7981.82 | 11393.32 | 466.45 |
Objects of the Issue:
The company proposes to utilize the Net Proceeds from the issue towards the following objects:
1. Repayment of Secured Loans.
2. Working capital requirement.
3. General Corporate Purpose.
4. Meeting Public Issue Expenses.
Company Contact Information:
Rachana Infrastructure Limited
404, 405, 4th Floor, Angel Complex, Nr. Income Tax Railway Crossing,
Nr. Oassis Hotel, Navrangpura, Ahmedabad - 380009
Gujarat
