Thaai Casting Ltd IPO Detail
Incorporated in June 2010, Thai Casting Limited is an automotive ancillary company specializing in High-Pressure Die Casting, as well as the precision Machining of both Ferrous and Non-Ferrous materials and Induction heating and quenching. The company has three business verticals:-
- High Pressure Die Casting
- Machining of Ferrous and Non-Ferrous
- Induction Heating and Quenching
Thaai Casting is an IATF 16949: 2016 certified company.
The company offers a wide range of automotive components, such as engine mounting support brackets, transmission mounts, fork shift and housing, steering wheel armatures, electrical connectors, YFG base frames (both right-hand and left-hand drive side), housing, top cover, and more. The manufacturing unit is located in No Tiruvallur, Tamil Nadu, India,
The company has a die-making facility for new product development according to the required specifications. The die maintenance process is done with utmost care to ensure the dies run continuously and have a longer lifespan.
As of September 30, 2023, the company employs 132 people in various departments.
Company Promoters
Sriramulu Anandan, Anandan Shevaani and Chinraj VenkatesanIPO Details
| IPO Opening Date | Feb 15, 2024 |
| IPO Closing Date | Feb 20, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹73 - 77 per equity share |
| Market Lot | 1600 Shares |
| Min Order Quantity | 1600 Shares |
| Listing At | NSE SME |
| Issue Size | ₹47.20 Cr |
| Fresh Issue | ₹47.20 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 1.04x | - | - | 2.10x | 5.06x | 3.28x |
| Day 2 | 3.51x | - | - | 7.34x | 21.81x | 13.48x |
| Day 3 | 3.63x | - | - | 69.31x | 115.95x | 73.86x |
| Day 4 | 144.43x | 0.00x | 0.00x | 729.72x | 355.66x | 375.43x |
IPO Tentative Timetable
The Thaai Casting Ltd IPO open date is Feb 15, 2024, and the close date is Feb 20, 2024. The issue may list on Feb 23, 2024.
| IPO Open Date | Feb 15, 2024 |
| IPO Close Date | Feb 20, 2024 |
| Basis of Allotment Date | Feb 21, 2024 |
| Initiation of Refunds | Feb 21, 2024 |
| Credit of Shares to Demat Account | Feb 22, 2024 |
| IPO Listing Date | Feb 23, 2024 |
IPO Lot Size
The Thaai Casting Ltd IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹123200).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹123200 |
| Maximum | 1 | 1600 | ₹123200 |
IPO Promoter Holding
| Pre Issue Share Holding | 86.50% |
| 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 | 2379.19 | 2048.70 | 40.33 |
| 31-Mar-22 | 3752.29 | 3841.94 | 115.40 |
| 31-Mar-23 | 5498.52 | 4911.64 | 503.71 |
| 31-Oct-23 | 14638.25 | 4848.91 | 860.93 |
Objects of the Issue:
The objects of the Issue are: -
- To meet out the Capital Expenditure;
- To meet out the General Corporate Purposes; and
- To meet out the Issue Expenses.
Thaai Casting Ltd IPO Registrar:
Purva Sharegistry India Pvt Ltd
Thaai Casting Ltd IPO Lead Manager(s):
GYR Capital Advisors Private Limited
Company Contact Information:
Thaai Casting Ltd
No. A-20 SIPCOT Industrial Park
7th Cross Street,
Pillaipakkam, Tiruvallur,-602105
