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Rhetan TMT IPO is a fixed price issue of ₹56.00 crores. The issue is entirely a fresh issue of 0.80 crore shares of ₹56.00 crore.
Rhetan TMT IPO bidding started from Aug 22, 2022 and ended on Aug 25, 2022. The allotment for Rhetan TMT IPO was finalized on Aug 30, 2022. The shares got listed on BSE SME on Sep 5, 2022.
Rhetan TMT IPO price is ₹70.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,40,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,80,000.
Aryaman Financial Services 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 Aryaman Capital Markets Ltd..
Refer to Rhetan TMT IPO RHP for detailed Information.
| IPO Date | August 22, 2022 to August 25, 2022 |
| Listing Date | September 5, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹70 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 80,00,000 shares (aggregating up to ₹56.00 Cr) |
| Reserved for Market Maker | 4,16,000 shares Aryaman Capital Markets Ltd. (aggregating up to ₹2.91 Cr) |
| Net Offered to Public | 75,84,000 shares (aggregating up to ₹53.09 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,32,50,000 shares |
| Share Holding Post Issue | 2,12,50,000 shares |
Rhetan TMT IPO offers total 80,00,000 shares. Out of which 37,92,000 (47.40%) allocated to NII, 37,92,000 (47.40%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 4,16,000 (5.20%) |
| NII (HNI) Shares Offered | 37,92,000 (47.40%) |
| Retail Shares Offered | 37,92,000 (47.40%) |
| Total Shares Offered | 80,00,000 (100.00%) |
Rhetan TMT IPO opens on August 22, 2022, and closes on August 25, 2022.
| IPO Open Date | Mon, Aug 22, 2022 |
| IPO Close Date | Thu, Aug 25, 2022 |
| Tentative Allotment | Tue, Aug 30, 2022 |
| Initiation of Refunds | Thu, Sep 1, 2022 |
| Credit of Shares to Demat | Fri, Sep 2, 2022 |
| Tentative Listing Date | Mon, Sep 5, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Aug 25, 2022 |
Investors can bid for a minimum of 2,000 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 | 2,000 | ₹1,40,000 |
| Retail (Max) | 1 | 2,000 | ₹1,40,000 |
| HNI (Min) | 2 | 4,000 | ₹2,80,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1984, Rhetan TMT Limited manufactures TMT Bars and Round Bars which are primarily used in the construction industry. The company's plant is located in Gujarat and is spread over 15,000 sq. yards. The company's products have been used in the construction of dams, bridges, residential and commercial towers and major infrastructure projects in Gujarat.
Competitive Strengths :
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-20 | 3046.86 | 2008.26 | -58.04 | 30.21 | -311.65 |
| 31-Mar-21 | 3980.65 | 5213.01 | 13.44 | 783.65 | -298.21 |
| 31-Mar-22 | 5900.06 | 6703.45 | 234.57 | 2313.21 | 1046.35 |
| Amount in ₹ Lakhs | |||||
The market capitalization of Rhetan TMT IPO is ₹148.75 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 63.64 |
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects:
1. Funding capital expenditure for expansion and modernization at 325, Karannagar, Kadi-Kalol Road, Taluka Kadi, Dist. Mehsana, Gujarat - 382715
2. Funding Working capital requirements
3. General Corporate Purpose
[Dilip Davda] Though the company’s top line shows growth, the sudden boost in margins for FY22 raises eyebrows. The segment is highly competitive and fragmented. Two listed group companies have not fared up to the mark. The issue is priced aggressively and hence there is no harm in giving it a miss. Read detail review...
| Listing Date | September 5, 2022 |
| BSE Script Code | 543590 |
| NSE Symbol | |
| ISIN | INE0KKN01011 |
| Final Issue Price | ₹70 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹70.00 |
| Open | ₹70.00 |
| Low | ₹66.50 |
| High | ₹72.00 |
| Last Trade | ₹66.50 |
Rhetan TMT Ltd.
7th Floor, Ashoka Chambers,
Rasala Marg,
Mithakhali,
Ahmedabad, Gujarat, 380006
Phone: 9499850261
Email: rhetantmt@gmail.com
Website: http://www.rhetan.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Rhetan TMT IPO is a SME IPO of 80,00,000 equity shares of the face value of ₹10 aggregating up to ₹56.00 Crores. The issue is priced at ₹70 per share. The minimum order quantity is 2000.
The IPO opens on August 22, 2022, and closes on August 25, 2022.
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 Rhetan TMT IPO using UPI as a payment gateway. Zerodha customers can apply in Rhetan TMT IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Rhetan TMT IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Rhetan TMT IPO opens on August 22, 2022 and closes on August 25, 2022.
Rhetan TMT IPO lot size is 2000, and the minimum amount required for application is ₹1,40,000.
You can apply in Rhetan TMT 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 Rhetan TMT IPO will be done on Tuesday, August 30, 2022, and the allotted shares will be credited to your demat account by Friday, September 2, 2022. Check the Rhetan TMT IPO allotment status.
The Rhetan TMT IPO listing date is on Monday, September 5, 2022.
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