Rhetan TMT Limited IPO Detail
Incorporated in 1984, Rhetan TMT Limited manufactures TMT Bars and Round Bars which are primarily used in the construction industry. The company's plant is located in Gujarat and is spread over 15,000 sq. yards. The company's products have been used in the construction of dams, bridges, residential and commercial towers and major infrastructure projects in Gujarat.
Competitive Strengths :
- Well educated and experienced management.
- Group Synergies
- Location of the Manufacturing Unit
Company Promoters
Ashoka Metcast Limited and Shalin Shah are the company promoters.IPO Details
| IPO Opening Date | Aug 22, 2022 |
| IPO Closing Date | Aug 25, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹70 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | BSE SME |
| Issue Size | ₹56.00 Cr |
| Fresh Issue | 8,000,000 shares of ₹10 (aggregating up to ₹56.00 Cr) |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.13x | 1.12x | 0x | |
| Day 2 | - | - | 0.13x | 1.12x | 0x | |
| Day 3 | - | - | 1.30x | 0x | 0x | |
| Day 4 | - | - | 2.18x | 0.76x | 1.47x |
IPO Tentative Timetable
The Rhetan TMT Limited IPO open date is Aug 22, 2022, and the close date is Aug 25, 2022. The issue may list on Sep 05, 2022.
| IPO Open Date | Aug 22, 2022 |
| IPO Close Date | Aug 25, 2022 |
| Basis of Allotment Date | Aug 30, 2022 |
| Initiation of Refunds | Sep 01, 2022 |
| Credit of Shares to Demat Account | Sep 02, 2022 |
| IPO Listing Date | Sep 05, 2022 |
IPO Lot Size
The Rhetan TMT Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹140000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹140000 |
| Maximum | 1 | 2000 | ₹140000 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.62% |
| Post Issue Share Holding | 62.12% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 3046.86 | 2008.26 | -58.04 |
| 31-Mar-21 | 3980.65 | 5213.01 | 13.44 |
| 31-Mar-22 | 5900.06 | 6703.45 | 234.57 |
Objects of the Issue:
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects:
1. Funding capital expenditure for expansion and modernization at 325, Karannagar, Kadi-Kalol Road, Taluka Kadi, Dist. Mehsana, Gujarat - 382715
2. Funding Working capital requirements
3. General Corporate Purpose
Rhetan TMT Limited IPO Registrar:
Bigshare Services Pvt Ltd
Rhetan TMT Limited IPO Lead Manager(s):
Aryaman Financial Services limited (Past IPO Performance)
Company Contact Information:
Rhetan TMT Limited
7th Floor, Ashoka Chambers, Rasala Marg, Mithakhali,
Ahmedabad
Gujarat
