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Riddhi Steel IPO is a fixed price issue of ₹8.89 crores. The issue is entirely a fresh issue of 0.23 crore shares of ₹8.89 crore.
Riddhi Steel IPO bidding started from Sep 2, 2016 and ended on Sep 7, 2016. The shares got listed on BSE SME on Sep 14, 2016.
Riddhi Steel IPO price is ₹38.00 per share . The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,14,000 (3000 shares). The minimum lot size investment for HNI is 2 lots (6,000 shares), amounting to ₹2,28,000.
Oneview Corporate Advisors Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The market maker of the company is Guiness Securities Ltd..
Refer to Riddhi Steel IPO RHP for detailed Information.
| IPO Date | September 2, 2016 to September 7, 2016 |
| Listing Date | September 14, 2016 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹38 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 23,40,000 shares (aggregating up to ₹8.89 Cr) |
| Reserved for Market Maker | 1,26,000 shares Guiness Securities Ltd. (aggregating up to ₹0.4788 Cr) |
| Net Offered to Public | 22,14,000 shares (aggregating up to ₹8.41 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 59,50,252 shares |
| Share Holding Post Issue | 82,90,252 shares |
Riddhi Steel IPO offers total 23,40,000 shares. Out of which 11,07,000 (47.31%) allocated to NII, 11,07,000 (47.31%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,26,000 (5.38%) |
| NII (HNI) Shares Offered | 11,07,000 (47.31%) |
| Retail Shares Offered | 11,07,000 (47.31%) |
| Total Shares Offered | 23,40,000 (100.00%) |
Riddhi Steel IPO opens on September 2, 2016, and closes on September 7, 2016.
| IPO Open Date | Fri, Sep 2, 2016 |
| IPO Close Date | Wed, Sep 7, 2016 |
| Tentative Listing Date | Wed, Sep 14, 2016 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Sep 7, 2016 |
Investors can bid for a minimum of 3,000 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 | 3,000 | ₹1,14,000 |
| Retail (Max) | 1 | 3,000 | ₹1,14,000 |
| HNI (Min) | 2 | 6,000 | ₹2,28,000 |
Incorporated in 2002, Riddhi Steel and Tube Ltd is engaged in the manufacturing of black and galvanized steel pipes. Information in this paragraph is taken from chittorgarh.com, India's No. 1 IPO Investment Portal.They also manufacture steel square hollow sections (SHS) and rectangular hollow sections (RHS) in a various size and thickness.
Company's products are used in water, oil, air and gas transportation, agro based industries, public health, construction, structural, scaffolding, and irrigation and engineering industries and power sector, fire fighting applications, etc. Discuss this IPO on Chittorgarh.com, the most active IPO discussion forum.The major customers of the Company are Standard Belex india pvt ltd, Vijay Sales corporation, Chetak Tube Traders Ghanshyam Traders, Arham Steel Trader and Veer Brothers.
The Company Riddhi Steel 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 | To meet working capital requirements | 7.00 |
| 2 | General Corporate Expenses | 1.56 |
| 3 | Issue Expenses | 0.33 |
[Dilip Davda] Based on latest earnings as per prospectus, the issue appears to be fully priced. However, risk savvy cash surplus investors may consider investment for long term. Read detail review...
| Listing Date | September 14, 2016 |
| BSE Script Code | 540082 |
| NSE Symbol | |
| ISIN | INE367U01013 |
| Final Issue Price | ₹38 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹38.00 |
| Open | ₹37.70 |
| Low | ₹37.50 |
| High | ₹38.50 |
| Last Trade | ₹37.65 |
Riddhi Steel & Tube Ltd.
83/84, Village - Kamod,
Piplaj Pirana Road,
Road, Post - Aslali,
Ahmedabad, Gujarat, 382427
Phone: +91-79-27543974
Email: riddhiacc@rediffmail.com
Website: http://www.riddhitubes.com
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: riddhisteel.ipo@karvy.com
Website: https://ipostatus.kfintech.com/
Riddhi Steel IPO is a SME IPO of 23,40,000 equity shares of the face value of ₹10 aggregating up to ₹8.89 Crores. The issue is priced at ₹38 per share. The minimum order quantity is 3000.
The IPO opens on September 2, 2016, and closes on September 7, 2016.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Riddhi Steel IPO using UPI as a payment gateway. Zerodha customers can apply in Riddhi Steel IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Riddhi Steel IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Riddhi Steel IPO opens on September 2, 2016 and closes on September 7, 2016.
Riddhi Steel IPO lot size is 3000, and the minimum amount required for application is ₹1,14,000.
You can apply in Riddhi 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 Riddhi Steel IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Riddhi Steel IPO allotment status.
The Riddhi Steel IPO listing date is on Wednesday, September 14, 2016.
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