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Rajeshwari Cans IPO is a fixed price issue of ₹4.03 crores. The issue is entirely a fresh issue of 0.20 crore shares of ₹4.03 crore.
Rajeshwari Cans IPO bidding started from Mar 31, 2021 and ended on Apr 6, 2021. The allotment for Rajeshwari Cans IPO was finalized on Apr 9, 2021. The shares got listed on BSE SME on Apr 15, 2021.
Rajeshwari Cans IPO price is ₹20.00 per share . The lot size for an application is 6,000. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (6000 shares). The minimum lot size investment for HNI is 2 lots (12,000 shares), amounting to ₹2,40,000.
Fedex Securities Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Beeline Broking Ltd..
Refer to Rajeshwari Cans IPO RHP for detailed Information.
| IPO Date | March 31, 2021 to April 6, 2021 |
| Listing Date | April 15, 2021 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹20 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 20,16,000 shares (aggregating up to ₹4.03 Cr) |
| Reserved for Market Maker | 1,08,000 shares Beeline Broking Ltd. (aggregating up to ₹0.2160 Cr) |
| Net Offered to Public | 19,08,000 shares (aggregating up to ₹3.82 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 32,30,000 shares |
| Share Holding Post Issue | 52,46,000 shares |
Rajeshwari Cans IPO offers total 20,16,000 shares. Out of which 9,54,000 (47.32%) allocated to NII, 9,54,000 (47.32%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,08,000 (5.36%) |
| NII (HNI) Shares Offered | 9,54,000 (47.32%) |
| Retail Shares Offered | 9,54,000 (47.32%) |
| Total Shares Offered | 20,16,000 (100.00%) |
Rajeshwari Cans IPO opens on March 31, 2021, and closes on April 6, 2021.
| IPO Open Date | Wed, Mar 31, 2021 |
| IPO Close Date | Tue, Apr 6, 2021 |
| Tentative Allotment | Fri, Apr 9, 2021 |
| Initiation of Refunds | Mon, Apr 12, 2021 |
| Credit of Shares to Demat | Tue, Apr 13, 2021 |
| Tentative Listing Date | Thu, Apr 15, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Apr 6, 2021 |
Investors can bid for a minimum of 6,000 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 | 6,000 | ₹1,20,000 |
| Retail (Max) | 1 | 6,000 | ₹1,20,000 |
| HNI (Min) | 2 | 12,000 | ₹2,40,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2013, Rajeshwari Cans Limited is primarily engaged in the business of manufacturing round-printed tin containers of different sizes for packing material and also performs printing work on it. The company supplies its tin containers to tobacco manufacturers and paint companies. It manufactures 50 gm to 500 gm containers for the packing of tobacco material and up to 5 liters of containers for the paint industry.
It has a manufacturing unit at Mahagujarat Industrial Estate and Shree Ganesh Industrial Estate where it carries out all of the manufacturing activities.
Competitive strengths
| Particulars | For the year/period ended (₹ in Lakh) | ||||
|---|---|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |||
| Total Assets | 1,234.96 | 1,322.08 | 1,160.95 | ||
| Total Revenue | 2,209.73 | 2,132.33 | 1,849.64 | ||
| Profit After Tax | 18.69 | 15.75 | 11.21 | ||
The Company Rajeshwari Cans 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 | Meeting incremental working capital requirements | 2.90 |
| 2 | General corporate purposes | 0.73 |
[Dilip Davda] IPO pricing reduced to half from its original proposal augurs well for the investors, however, this also raises eyebrows as to how it mulled a sudden nose-dive in the pricing of IPO. Based on FY21 annualized earnings, the issue is priced aggressively at a P/E of 62, whereas on the basis of the last three years’ average, it is at a P/E of 23 and on the basis of FY20, the asking price is at a P/E of 55. Though it posted slow and steady growth in the last three fiscals, 50% reduction in the iPO price still makes it a highly-priced offer. Considering this, cash surplus – risk savvy investors may consider investment at their own risks. Read detail review...
| Listing Date | April 15, 2021 |
| BSE Script Code | 543285 |
| NSE Symbol | |
| ISIN | INE0CQ101015 |
| Final Issue Price | ₹20 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹20.00 |
| Open | ₹20.75 |
| Low | ₹20.00 |
| High | ₹21.00 |
| Last Trade | ₹20.00 |
Rajeshwari Cans Ltd.
96, Mahagujarat,
Industrial Estate, Moraiya,
Ta: Sanand,
Ahmedabad, Gujarat, 382210
Phone: 079-29796584
Email: rcl2gov@gmail.com
Website: http://www.rajeshwaricans.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Rajeshwari Cans IPO is a SME IPO of 20,16,000 equity shares of the face value of ₹10 aggregating up to ₹4.03 Crores. The issue is priced at ₹20 per share. The minimum order quantity is 6000.
The IPO opens on March 31, 2021, and closes on April 6, 2021.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Rajeshwari Cans IPO using UPI as a payment gateway. Zerodha customers can apply in Rajeshwari Cans IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Rajeshwari Cans IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Rajeshwari Cans IPO opens on March 31, 2021 and closes on April 6, 2021.
Rajeshwari Cans IPO lot size is 6000, and the minimum amount required for application is ₹1,20,000.
You can apply in Rajeshwari Cans 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 Rajeshwari Cans IPO will be done on Friday, April 9, 2021, and the allotted shares will be credited to your demat account by Tuesday, April 13, 2021. Check the Rajeshwari Cans IPO allotment status.
The Rajeshwari Cans IPO listing date is on Thursday, April 15, 2021.
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