Bookbuilding IPO | ₹30 Cr | Listed at NSE SME | Mon, Sep 23, 2024 - Wed, Sep 25, 2024
Rappid Valves IPO is a book build issue of ₹30.41 crores. The issue is entirely a fresh issue of 0.14 crore shares of ₹30.41 crore.
Rappid Valves IPO bidding started from Sep 23, 2024 and ended on Sep 25, 2024. The allotment for Rappid Valves IPO was finalized on Sep 26, 2024. The shares got listed on NSE SME on Sep 30, 2024.
Rappid Valves IPO price band is set at ₹222 per share. The lot size for an application is 600. The minimum amount of investment required by an retail is ₹1,33,200 (600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (1,200 shares), amounting to ₹2,66,400.
Shreni Shares Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Rikhav Securities Ltd..
Refer to Rappid Valves IPO RHP for detailed Information.
IPO Open
Mon, Sep 23, 2024
IPO Close
Wed, Sep 25, 2024
Issue Price
₹222 per share
Market Cap (Pre-IPO)
₹115.26 Cr
| IPO Date | 23 to 25 Sep, 2024 |
| Listed on | Mon, Sep 30, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹210 to ₹222 |
| Issue Price | ₹222 per share |
| Lot Size | 600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 13,69,800 shares (agg. up to ₹30 Cr) |
| Reserved for Market Maker | 69,600 shares Rikhav Securities Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 13,00,200 shares (agg. up to ₹29 Cr) |
| Net Offered to Public | 13,00,200 shares (agg. up to ₹29 Cr) |
| Share Holding Pre Issue | 38,22,184 shares |
| Share Holding Post Issue | 51,91,984 shares |
| NSE Symbol | RAPPID |
| ISIN | INE0MVO01012 |
Rappid Valves IPO comprises a total issue size of 13,69,800 shares. The net offer to the public is 13,00,200 shares, after excluding 69,600 shares allotted on a firm basis. Of the Net offer 6,49,200 (49.93%) are allocated to QIB, 1,95,600 (15.04%) allocated to NII 4,55,400 (35.03%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 6,49,200 | 49.93% | 47.39% |
| − Anchor Investor Shares Offered | 3,89,400 | 28.43% | |
| − QIB (Ex. Anchor) Shares Offered | 2,59,800 | 18.97% | |
| NII (HNI) Shares Offered | 1,95,600 | 15.04% | 14.28% |
| Retail Shares Offered | 4,55,400 | 35.03% | 33.25% |
| Firm Reservations | |||
| Market Maker Shares Offered | 69,600 | 5.08% | |
| Total Shares Offered | 13,69,800 | 100.00% | 100.00% |
Investors can bid for a minimum of 600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹1,33,200 |
| Retail (Max) | 1 | 600 | ₹1,33,200 |
| HNI (Min) | 2 | 1,200 | ₹2,66,400 |
Rappid Valves IPO raises ₹8.64 crore from anchor investors. Rappid Valves IPO Anchor bid date is September 20, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Sep 20, 2024 |
| Shares Offered | 3,89,400 |
| Anchor Portion (₹ Cr.) | 8.64 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Oct 25, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Dec 24, 2024 |
Incorporated in 2002, Rappid Valves (India) Limited primarily engages in the manufacturing of Valve solutions.
The company offers various valves, including ball, gate, globe, butterfly, check, double block, filter, and marine valves. These valves are made using ferrous and non-ferrous materials and come in sizes ranging from 15mm to 600mm to meet diverse requirements.
The company's manufacturing unit is equipped with a comprehensive range of standard machinery, including conventional and automated CNC machines, VMCs, test benches, EOT cranes, lathes, milling machines, drilling machines, grinders, saws, testers, lapping machines, welders, compressors, buffing machines, and testing equipment, supporting a seamless manufacturing process.
The Company has also obtained various quality certifications, such as ISO 9001:2015, 14001:2015, and ISO 45001:2018.
Competitive Strengths
As of, June 30, 2024, the company had employed 47 personnel at its Manufacturing Plant and Registered Office.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 29.94 | 16.57 | 12.18 |
| Total Income | 36.60 | 16.43 | 12.15 |
| Profit After Tax | 4.13 | 0.46 | 0.29 |
| NET Worth | 12.22 | 3.12 | -0.25 |
| Reserves and Surplus | 3.72 | -0.38 | -0.80 |
| Total Borrowing | 10.98 | 9.93 | 9.78 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the Capital expenditure for purchase of new Plant and Machineries and Software by the Company; | 6.73 |
| 2 | Expenditure for renovation of registered office and existing manufacturing unit; | 0.39 |
| 3 | Repayment/prepayment of all or certain of our borrowings availed of by the Company; | 10.50 |
| 4 | Pursuing inorganic growth initiatives through acquisitions; and | 4.00 |
| 5 | General corporate purposes. | 5.43 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 53.88% |
| ROCE | 29.88% |
| Debt/Equity | 0.90 |
| RoNW | 33.82% |
| PAT Margin | 11.32% |
| Price to Book Value | 24.89 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.81 | 7.96 |
| P/E (x) | 20.53 | 27.89 |
| Promoter Holding | 69.46% | 51.13% |
| Market Cap | ₹115.26 Cr. |
The Rappid Valves (India) IPO is subscribed 176.06 times on September 25, 2024 6:19:58 PM (Day 3). The public issue subscribed 109.09 times in the retail category, 55.97 times in the QIB category, and 491.49 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 55.97 | 2,59,800 | 1,45,42,200 |
| NII* | 491.49 | 1,95,600 | 9,61,35,600 |
| Retail | 109.09 | 4,55,400 | 4,96,78,800 |
| Total | 176.06 | 9,10,800 | 16,03,56,600 |
Total Application : 82,798
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees including underwriting commission | 1.45 |
| 2 | Brokerage, selling, commission and upload fees | 0.01 |
| 3 | Registrar to the issue | 0.02 |
| 4 | Legal Advisors | 0.02 |
| 5 | Advertising and Marketing expenses | 0.03 |
| 6 | Regulators including stock exchanges | 0.04 |
| 7 | Printing and distribution of issue stationery | 0.01 |
| 8 | Others, if any (market making, depositories, marketing fees, secretarial, peer review auditors, etc.) | 1.79 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹222.00 |
| Open | ₹312.00 |
| Low | ₹302.00 |
| High | ₹327.60 |
| Last Trade | ₹309.35 |
Lead Manager Reports
Rappid Valves IPO is a SME IPO of 13,69,800 equity shares of the face value of ₹10 aggregating up to ₹30 Crores. The issue is priced at ₹222 per share. The minimum order quantity is 600.
The IPO opens on Mon, Sep 23, 2024, and closes on Wed, Sep 25, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Rappid Valves IPO using UPI as a payment gateway. Zerodha customers can apply in Rappid Valves IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Rappid Valves IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Rappid Valves IPO opens on Mon, Sep 23, 2024 and closes on Wed, Sep 25, 2024.
Rappid Valves IPO lot size is 600, and the minimum amount required for application is ₹1,33,200.
You can apply in Rappid Valves 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 Rappid Valves IPO will be done on Thursday, September 26, 2024, and the allotted shares will be credited to your demat account by Fri, Sep 27, 2024. Check the Rappid Valves IPO allotment status.
The Rappid Valves IPO listing date is on Mon, Sep 30, 2024.
