Ramdevbaba Solvent Limited IPO Detail
Founded in 2008, Ramdevbaba Solvent Limited produces and distributes physically refined rice bran oil.
The Company is engaged in the manufacture, distribution, marketing and sale of rice bran oil to FMCG companies such as Mother Dairy Fruit & Vegetable Private Limited, Marico Limited and Empire Spices and Foods Ltd. The Company also manufactures, markets and sells rice bran oil under its own brands "Tulsi" and "Sehat" through thirty eight (38) distributors who in turn sell to various retailers in Maharashtra.
The company also manufactures de-oiled rice bran (DORB), which is a by-product of rice bran oil extraction, and sells it as livestock, poultry and fish feed in the states of Maharashtra, Goa, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Karnataka, Kerala and Tamil Nadu. Other by-products such as fatty acid, lecithin, gum, spent soil and wax are sold on the open market.
Ramdevbaba Solvent has two production facilities, one in Mahadula and the other in Bramhapuri near Nagpur in the state of Maharashtra.
Company Promoters
Prashant Kisanlal Bhaiya, Nilesh Suresh Mohata, and Tushar Ramesh MohataIPO Details
| IPO Opening Date | Apr 15, 2024 |
| IPO Closing Date | Apr 18, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹80 - 85 per equity share |
| Market Lot | 1600 Shares |
| Min Order Quantity | 1600 Shares |
| Listing At | NSE SME |
| Issue Size | ₹50.27 Cr |
| Fresh Issue | ₹50.27 Cr |
| Offer for Sale | - |
| Retail Portion | 33.14% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | 0.00x | 0.00x | 8.18x | 5.80x | 4.68x |
| Day 2 | 0.02x | 0.00x | 0.00x | 14.69x | 13.74x | 10.06x |
| Day 3 | 65.95x | 0.00x | 0.00x | 314.46x | 79.96x | 126.21x |
IPO Tentative Timetable
The Ramdevbaba Solvent Limited IPO open date is Apr 15, 2024, and the close date is Apr 18, 2024. The issue may list on Apr 23, 2024.
| IPO Open Date | Apr 15, 2024 |
| IPO Close Date | Apr 18, 2024 |
| Basis of Allotment Date | Apr 19, 2024 |
| Initiation of Refunds | Apr 22, 2024 |
| Credit of Shares to Demat Account | Apr 22, 2024 |
| IPO Listing Date | Apr 23, 2024 |
IPO Lot Size
The Ramdevbaba Solvent Limited IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹136000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹136000 |
| Maximum | 1 | 1600 | ₹136000 |
IPO Promoter Holding
| Pre Issue Share Holding | 81.01% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 10125.05 | 42717.32 | 617.06 |
| 31-Mar-22 | 13134.86 | 58525.46 | 659.15 |
| 31-Mar-23 | 19062.61 | 70433.41 | 1300.15 |
| 31-Dec-23 | 20341.24 | 46569.81 | 828.90 |
Objects of the Issue:
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.
Ramdevbaba Solvent Limited IPO Registrar:
Bigshare Services Pvt Ltd
Ramdevbaba Solvent Limited IPO Lead Manager(s):
Choice Capital Advisors Pvt Ltd
Company Contact Information:
Ramdevbaba Solvent Limited
Bhaiya Building,
Anaj Bazar, Itwari,
Nagpur - 440 002
