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Rudra Gas Enterprise Limited IPO Detail

Rudra Gas Enterprise Limited IPO Detail

Rudra Gas Enterprise Limited was founded in 2015 and is active in gas distribution network projects, fiber cable networks, construction equipment, and vehicle rental.

The company provides services in the fields of pipeline construction, civil works, and operation and maintenance of pipeline networks in city gas distribution. The company also provides services for the installation of fiber optic cables and their maintenance.

The company has three business verticals:

  1. Gas pipeline projects: These include the laying of pipelines for the distribution of city gas network and the construction of associated facilities such as CNG (compressed natural gas) stations, the construction, installation, testing, and commissioning of underground pipelines, maintenance, and repair facilities, the construction and installation of gas stations and their physical infrastructure such as pipelines, valves and stations required to carry out the works in accordance with the scope and specifications of the project. The company also provides comprehensive operation and maintenance services to city gas distribution companies(CGD).
  2. Fiber optic cable projects: This involves the development of special cables for the transmission of data using light signals.
  3. Rental of construction machinery and vehicles: This includes the rental of construction machinery and vehicles to subcontractors for specific projects.

The company's customers include companies in the city gas distribution and telecommunications sectors, both in the public and private sectors.

As of October 31, 2023, the company had 512 permanent employees on the payroll of the company.

Company Promoters

Mrs. Manjulaben Sureshbhai Patel, Mr. Kush Sureshbhai Patel and Mr. Kashyap Sureshbhai Patel

IPO Details

IPO Opening DateFeb 08, 2024
IPO Closing DateFeb 12, 2024
Issue TypeFixed Price Issue IPO
Face Value₹10 per equity share
IPO Price ₹63 per equity share
Market Lot2000 Shares
Min Order Quantity2000 Shares
Listing AtBSE SME
Issue Size₹14.16 Cr
Fresh Issue₹14.16 Cr
Offer for Sale-
Retail Portion 50%

IPO Subscription (Bidding Detail)

AS On QIB SHNI BHNI NII RII TOTAL
Day 1 - - 6.05x 31.66x 18.87x
Day 2 - - 6.05x 31.66x 18.87x
Day 3 - - 286.62x 404.38x 350.75x

IPO Tentative Timetable

The Rudra Gas Enterprise Limited IPO open date is Feb 08, 2024, and the close date is Feb 12, 2024. The issue may list on Feb 15, 2024.

IPO Open DateFeb 08, 2024
IPO Close DateFeb 12, 2024
Basis of Allotment DateFeb 13, 2024
Initiation of RefundsFeb 14, 2024
Credit of Shares to Demat AccountFeb 14, 2024
IPO Listing DateFeb 15, 2024

IPO Lot Size

The Rudra Gas Enterprise Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹126000).

ApplicationLotsSharesAmount (Cut-off)
Minimum12000₹126000
Maximum12000₹126000

IPO Promoter Holding

Pre Issue Share Holding99.99%
Post Issue Share Holding73.03%

Company Financials:

For the year/period ended (₹ in Lakhs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 1960.50 2816.96 127.05
31-Mar-22 2804.92 4395.95 179.41
31-Mar-23 3380.56 4957.02 352.02
31-Oct-23 4345.39 3446.81 247.41

Objects of the Issue:

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:

  1. To Meet Working Capital Requirements
  2. General Corporate Purposes

Rudra Gas Enterprise Limited IPO Registrar:

Link Intime India Private Ltd

Rudra Gas Enterprise Limited IPO Lead Manager(s):

Beeline Capital Advisors Pvt Ltd

Company Contact Information:

Rudra Gas Enterprise Limited

B-702, The Capital Building,

Science City Road, Opp. Hetarth Party Plot,

Sola, Ahmedabad-380060