Bookbuilding IPO | ₹35 Cr | Listed at BSE | Mon, Jun 27, 2011 - Wed, Jun 29, 2011
Readymade Steel IPO is a book build issue of ₹34.75 crores. The issue is entirely a fresh issue of 0.32 crore shares of ₹34.75 crore.
Readymade Steel IPO bidding started from Jun 27, 2011 and ended on Jun 29, 2011. The shares got listed on BSE on Jul 13, 2011.
Readymade Steel IPO price band is set at ₹108 per share. The lot size for an application is 60. The minimum amount of investment required by an retail is ₹6,480 (60 shares) (based on upper price). The lot size investment for sNII is 31 lots (1,860 shares), amounting to ₹2,00,880, and for bNII, it is 155 lots (9,300 shares), amounting to ₹10,04,400.
Arihant Capital Markets Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Readymade Steel IPO RHP for detailed Information.
IPO Open
Mon, Jun 27, 2011
IPO Close
Wed, Jun 29, 2011
Issue Price
₹108 per share
Market Cap (Pre-IPO)
₹126.56 Cr
| IPO Date | 27 to 29 Jun, 2011 |
| Listed on | Wed, Jul 13, 2011 |
| Face Value | ₹10 per share |
| Price Band | ₹90 to ₹108 |
| Issue Price | ₹108 per share |
| Lot Size | 60 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE |
| Total Issue Size | 32,17,153 shares (agg. up to ₹35 Cr) |
| Fresh Issue | 32,17,153 shares (agg. up to ₹35 Cr) |
| Share Holding Pre Issue | 85,01,200 shares |
| Share Holding Post Issue | 1,17,18,353 shares |
| BSE Script Code | 533482 KRIDHANINF |
| ISIN | INE524L01026 |
Readymade Steel IPO comprises a total issue size of 32,17,153 shares. Out of which, 16,08,576 (50.00%) are allocated to QIB, 4,82,573 (15.00%) allocated to NII 11,26,004 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 16,08,576 | 50.00% | NA |
| NII (HNI) Shares Offered | 4,82,573 | 15.00% | NA |
| Retail Shares Offered | 11,26,004 | 35.00% | 18,766 |
| Total Shares Offered | 32,17,153 | 100.00% |
Investors can bid for a minimum of 60 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 60 | ₹6,480 |
| Retail (Max) | 30 | 1,800 | ₹1,94,400 |
| S-HNI (Min) | 31 | 1,860 | ₹2,00,880 |
| S-HNI (Max) | 154 | 9,240 | ₹9,97,920 |
| B-HNI (Min) | 155 | 9,300 | ₹10,04,400 |
Incorporated in 2006, Readymade Steel India Ltd is engaged in the business of steel service provider to the infrastructure sector. Readymade Steel India have an installed capacity of 27000 MTPA for processing of steel used in the construction industry primarily reinforcement bars into various shapes and sizes like cranked bars, stirrups, verticals, column /beam cages etc.
Company process the steel through use of automated machines from its Plant and delivers ready to use cut and bend steel rods, prefabricated cages and other steel products required for construction activities. These products are mainly used in construction activities in various sectors like roads, power plants, ports, airports, housing, bridges, metros, monorails etc.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To part finance the cost of enhancing the capacity at our existing facility at Khopoli, district Raigad, Maharashtra and the cost of setting up of new facilities near New Delhi and Raipur | |
| 2 | To meet the pre-operative expenses including Issue expenses; | |
| 3 | To meet margin money requirements of working capital; and | |
| 4 | To meet general corporate purposes. |
| KPI | |
|---|---|
| RoNW | 5.14% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 88.83% | 64.44% |
| Market Cap | ₹126.56 Cr. |
The Readymade Steel India IPO is subscribed 1.68 times on June 29, 2011 5:00:00 PM (Day 3). The public issue subscribed 4.18 times in the retail category, 0.03 times in the QIB category, and 1.37 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 0.03 | 19,30,294 | |
| NII | 1.37 | 5,79,088 | |
| Retail | 4.18 | 13,51,206 | |
| Total | 1.68 | 38,60,588 |
CARE has assigned an IPO Grade 2 to Readymade Steel India IPO. This means as per CARE, company has 'Below Average Fundamentals'. CARE assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Read Readymade Steel India IPO Grading Report
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Management fee and underwriting and selling commissions | 1.50 |
| 2 | SCSB’s commission | 0.10 |
| 3 | Advertising and marketing expenses | 1.50 |
| 4 | Printing and stationary | 0.60 |
| 5 | Registrar’s fees, legal counsel, IPO grading | 0.25 |
| 6 | Others | 0.55 |
| Price Details | BSE |
|---|---|
| Final Issue Price | ₹108.00 |
| Open | ₹115.00 |
| Low | ₹62.30 |
| High | ₹117.75 |
| Last Trade | ₹66.45 |
Lead Manager Reports
Readymade Steel IPO is a main-board IPO of 32,17,153 equity shares of the face value of ₹10 aggregating up to ₹35 Crores. The issue is priced at ₹108 per share. The minimum order quantity is 60.
The IPO opens on Mon, Jun 27, 2011, and closes on Wed, Jun 29, 2011.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE.
Zerodha customers can apply online in Readymade Steel IPO using UPI as a payment gateway. Zerodha customers can apply in Readymade Steel IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Readymade Steel IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Readymade Steel IPO opens on Mon, Jun 27, 2011 and closes on Wed, Jun 29, 2011.
Readymade Steel IPO lot size is 60, and the minimum amount required for application is ₹6,480.
You can apply in Readymade Steel 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 Readymade Steel IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Readymade Steel IPO allotment status.
The Readymade Steel IPO listing date is on Wed, Jul 13, 2011.
