Fixed Price IPO | ₹56 Cr | Listed at BSE SME | Mon, Aug 22, 2022 - Thu, Aug 25, 2022
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Mon, Aug 22, 2022
IPO Close
Thu, Aug 25, 2022
Issue Price
₹70 per share
Market Cap (Pre-IPO)
₹148.75 Cr
| IPO Date | 22 to 25 Aug, 2022 |
| Listed on | Mon, Sep 5, 2022 |
| Face Value | ₹10 per share |
| Issue Price | ₹70 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 80,00,000 shares (agg. up to ₹56 Cr) |
| Reserved for Market Maker | 4,16,000 shares Aryaman Capital Markets Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 75,84,000 shares (agg. up to ₹53 Cr) |
| Net Offered to Public | 75,84,000 shares (agg. up to ₹53 Cr) |
| Share Holding Pre Issue | 1,32,50,000 shares |
| Share Holding Post Issue | 2,12,50,000 shares |
| BSE Script Code | 543590 |
| ISIN | INE0KKN01011 |
Rhetan TMT IPO comprises a total issue size of 80,00,000 shares. The net offer to the public is 75,84,000 shares, after excluding 4,16,000 shares allotted on a firm basis. Of the Net offer 37,92,000 (50.00%) allocated to NII 37,92,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 37,92,000 | 50.00% | 47.40% |
| Retail Shares Offered | 37,92,000 | 50.00% | 47.40% |
| Firm Reservations | |||
| Market Maker Shares Offered | 4,16,000 | 5.20% | |
| Total Shares Offered | 80,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| 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 |
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 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|
| Assets | 59.00 | 39.81 | 30.47 |
| Total Income | 67.03 | 52.13 | 20.08 |
| Profit After Tax | 2.35 | 0.13 | -0.58 |
| NET Worth | 23.13 | 7.84 | 0.30 |
| Reserves and Surplus | 10.46 | -2.98 | -3.12 |
| 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 capital expenditure for expansion and modernization at 325, Karannagar, Kadi-Kalol Road, Taluka Kadi, Dist. Mehsana, Gujarat – 382715 | 12.00 |
| 2 | Funding Working capital requirements | 30.46 |
| 3 | General Corporate Purposes | 12.54 |
| KPI | |
|---|---|
| ROE | 15 |
| ROCE | 8 |
| Debt/Equity | 1.15 |
| RoNW | 10.14 |
| PAT Margin | 3.50% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.00 | |
| P/E (x) | 63.64 | |
| Promoter Holding | 99.62% | 62.12% |
| Market Cap | ₹148.75 Cr. |
The Rhetan TMT IPO is subscribed 1.47 times on August 25, 2022 5:41:00 PM (Day 4). The public issue subscribed 0.76 times in the retail category, [.] times in the QIB category, and 2.18 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.18 | 37,92,000 | 82,66,000 |
| Retail | 0.76 | 37,92,000 | 28,96,000 |
| Total | 1.47 | 75,84,000 | 1,11,62,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses | 0.42 |
| 2 | Brokerage and selling commission | 0.28 |
| 3 | Printing & Stationery, Distribution, Postage, etc. | 0.02 |
| 4 | Advertisement and Marketing Expenses | 0.02 |
| 5 | Stock Exchange Fees, Regulatory and other Expenses | 0.27 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹70.00 |
| Open | ₹70.00 |
| Low | ₹66.50 |
| High | ₹72.00 |
| Last Trade | ₹66.50 |
Lead Manager Reports
Rhetan TMT IPO is a SME IPO of 80,00,000 equity shares of the face value of ₹10 aggregating up to ₹56 Crores. The issue is priced at ₹70 per share. The minimum order quantity is 2000.
The IPO opens on Mon, Aug 22, 2022, and closes on Thu, Aug 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 Mon, Aug 22, 2022 and closes on Thu, Aug 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 Fri, Sep 2, 2022. Check the Rhetan TMT IPO allotment status.
The Rhetan TMT IPO listing date is on Mon, Sep 5, 2022.
