Rite Zone Chemcon India Ltd IPO Detail
Incorporation in 2015, Rite Zone Chemcon India Limited deals in a range of construction chemicals and concrete products. The company offers complete construction solutions by supplying a complete range of various chemical products related to civil construction, infrastructure, building & structure including pre-construction or post construction as well as supplying all types of concrete required for construction and infrastructure developments.
The company's products include Concrete Admixture, Water Proofing Systems, Concrete Lubricators, Engineering Grouts, Industrial Flooring, Concrete Repairs, Curing Compound & Mould Release Agents, Surface Treatment, Tiling & Block Products.
Rite Zone Chemcon India Limited outsource the chemical products production to a third-party manufacturer. The company has also tied up with concrete manufacturers in Maharashtra for concrete production.
Strengths:
- Wide product portfolio with a focus on quality.
- Quality Assurance and customer satisfaction.
- Asset Light business model with low fixed overheads.
- R&D set up for constant product improvement and new product development.
- Longstanding customer relationships leading to increased business opportunities.
- Existing committed workforce.
Company Promoters
Mr. Bhavesh Babulal Bhandari and Mrs. Arti Bhavesh Bhandari are the company promoters.IPO Details
| IPO Opening Date | Oct 31, 2022 |
| IPO Closing Date | Nov 02, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹75 per equity share |
| Market Lot | 1600 Shares |
| Min Order Quantity | 1600 Shares |
| Listing At | NSE SME |
| Issue Size | ₹8.96 Cr |
| Fresh Issue | 1,195,200 shares of ₹10 (aggregating up to ₹8.96 Cr) |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 1.05x | 2.48x | 1.76x | |
| Day 2 | - | - | 2.36x | 7.10x | 4.73x |
IPO Tentative Timetable
The Rite Zone Chemcon India Ltd IPO open date is Oct 31, 2022, and the close date is Nov 02, 2022. The issue may list on Nov 11, 2022.
| IPO Open Date | Oct 31, 2022 |
| IPO Close Date | Nov 02, 2022 |
| Basis of Allotment Date | Nov 07, 2022 |
| Initiation of Refunds | Nov 09, 2022 |
| Credit of Shares to Demat Account | Nov 10, 2022 |
| IPO Listing Date | Nov 11, 2022 |
IPO Lot Size
The Rite Zone Chemcon India Ltd IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹120000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹120000 |
| Maximum | 1 | 1600 | ₹120000 |
IPO Promoter Holding
| Pre Issue Share Holding | 58.39% |
| 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 | 677.87 | 384.21 | 0.69 |
| 31-Mar-22 | 1039.27 | 565.73 | 26.21 |
| 30-Sep-22 | 1240.92 | 1036.34 | 17.48 |
Objects of the Issue:
The company intend to utilize the proceeds of the Issue to meet the following objects:
1. To part finance the Working Capital Requirements.
2. General Corporate Purposes.
3. To meet Issue Expenses.
Rite Zone Chemcon India Ltd IPO Registrar:
Skyline Financial Services Private Ltd
Rite Zone Chemcon India Ltd IPO Lead Manager(s):
Expert Global Consultants Private Limited (Past IPO Performance)
Company Contact Information:
Rite Zone Chemcon India Ltd
Row House 11, Beverly Park, Row House CHS Ltd Mira Road
Thane
Maharashtra
