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M.D.Inducto Cast IPO is a fixed price issue of ₹17.24 crores. The issue is entirely a fresh issue of 0.64 crore shares of ₹17.24 crore.
M.D.Inducto Cast IPO bidding started from Jun 30, 2015 and ended on Jul 2, 2015. The shares got listed on BSE SME on Jul 16, 2015.
M.D.Inducto Cast IPO price is ₹27.00 per share . The lot size for an application is 4,000. The minimum amount of investment required by an individual investor (retail) is ₹1,08,000 (4000 shares). The minimum lot size investment for HNI is 2 lots (8,000 shares), amounting to ₹2,16,000.
Pantomath Capital Advisors Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The market maker of the company is BCB Brokerage Pvt.Ltd..
Refer to M.D.Inducto Cast IPO RHP for detailed Information.
| IPO Date | June 30, 2015 to July 2, 2015 |
| Listing Date | July 16, 2015 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹27 per share |
| Lot Size | 4,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 63,84,000 shares (aggregating up to ₹17.24 Cr) |
| Reserved for Market Maker | 3,24,000 shares BCB Brokerage Pvt.Ltd. (aggregating up to ₹0.8748 Cr) |
| Net Offered to Public | 60,60,000 shares (aggregating up to ₹16.36 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,77,03,704 shares |
| Share Holding Post Issue | 2,40,87,704 shares |
MD Inducto Cast IPO offers total 63,84,000 shares. Out of which 30,28,000 (47.43%) allocated to NII, 30,32,000 (47.49%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,24,000 (5.08%) |
| NII (HNI) Shares Offered | 30,28,000 (47.43%) |
| Retail Shares Offered | 30,32,000 (47.49%) |
| Total Shares Offered | 63,84,000 (100.00%) |
M.D.Inducto Cast IPO opens on June 30, 2015, and closes on July 2, 2015.
| IPO Open Date | Tue, Jun 30, 2015 |
| IPO Close Date | Thu, Jul 2, 2015 |
| Tentative Listing Date | Thu, Jul 16, 2015 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Jul 2, 2015 |
Investors can bid for a minimum of 4,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4,000 | ₹1,08,000 |
| Retail (Max) | 1 | 4,000 | ₹1,08,000 |
| HNI (Min) | 2 | 8,000 | ₹2,16,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2010, M D Inducto Cast Ltd is engaged in manufacturing of superior quality TMT bars and billets that are sold under the brand name Rudra TMX.
M D Inducto Cast Ltd (MDIC) is the flagship company of M D Group, engaged in various businesses like Ship Recycling, Oxygen Plant, Induction Furnace, Re-rolling mill, producing more than 1.5 Lakh MT per annum of steel, with a group turnover of around Rs. 600 crore per annum. At present they have an installed production capacity of 1,20,000 MT p.a. both for billets and TMT bars. Famous actor and politician Paresh Rawal is the brand ambassador of MDIC's products.
In addition to manufacturing their own products, they have also recently introduced franchise model of business in their operations. At present, they have contracted with 5 parties who manufacture and sell goods under brand name "Rudra TMX". Company has around 25 direct dealers and 5 distributors who cater to around 450 dealers, undertaking sales and distribution of products. They also serve to some few large industrial houses directly.
| KPI | Values |
|---|---|
| RoNW | 38.53% |
The Company M.D.Inducto Cast IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Working Capital Requirement | 16.59 |
| 2 | Issue Expenses | 0.65 |
[Dilip Davda] <p>On performance front the company has posted turnover/net profit of Rs. 43.67 crore /Rs. 0.83 crore (FY 2013), Rs. 318.04 crore/Rs. 4.32 crore (FY 2014) and Rs. 333.32 crore/Rs. 5.74 crore (FY 2015). If we attribute the FY 2015 earnings for fully diluted equity of Rs. 24.09 crore then the asking price of the offer is at a P/E of 11 plus and P/BV at 2.5 plus. Thus the offer appears to be reasonably priced compared to peers industry composite P/E of 34 plus as detailed in prospectus.</p> <p>On merchant banker’s front, this is the 10th IPO from its stable and its past seven mandates have given positive rewards to investors. The eighth IPO of Ambition that is closing on 30.06.15 and Jiya Eco-Products still on.</p> <p style="margin: 0in 0in 0pt; text-align: justify;"><strong><span style="color: red; font-family: 'Times New Roman','serif'; font-size: 12pt;">DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here. As SME issues have entry barriers and low preference from broking community, any reader taking decisions based on any information published here does so entirely at own risk. Author has no plans to invest in this offer. </span></strong></p> Read detail review...
| Listing Date | July 16, 2015 |
| BSE Script Code | 539226 |
| NSE Symbol | |
| ISIN | INE027T01015 |
| Final Issue Price | ₹27 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹27.00 |
| Open | ₹28.10 |
| Low | ₹27.85 |
| High | ₹29.50 |
| Last Trade | ₹29.50 |
M.D.Inducto Cast Ltd.
M.D. House, Plot no. 2715/A,
Near Central Salt,
Waghawadi Road,
Bhavnagar, Gujarat, 364001
Phone: +91 278 2570133
Email: info@mdgroup.in
Website: http://www.rudratxt.com
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: mdgroup.ipo@karvy.com
Website: https://ipostatus.kfintech.com/
M.D.Inducto Cast IPO is a SME IPO of 63,84,000 equity shares of the face value of ₹10 aggregating up to ₹17.24 Crores. The issue is priced at ₹27 per share. The minimum order quantity is 4000.
The IPO opens on June 30, 2015, and closes on July 2, 2015.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in M.D.Inducto Cast IPO using UPI as a payment gateway. Zerodha customers can apply in M.D.Inducto Cast IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in M.D.Inducto Cast IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The M.D.Inducto Cast IPO opens on June 30, 2015 and closes on July 2, 2015.
M.D.Inducto Cast IPO lot size is 4000, and the minimum amount required for application is ₹1,08,000.
You can apply in M.D.Inducto Cast IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for M.D.Inducto Cast IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the M.D.Inducto Cast IPO allotment status.
The M.D.Inducto Cast IPO listing date is on Thursday, July 16, 2015.
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