Fixed Price IPO | ₹9 Cr | Listed at BSE SME | Fri, Sep 2, 2016 - Wed, Sep 7, 2016
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Fri, Sep 2, 2016
IPO Close
Wed, Sep 7, 2016
Issue Price
₹38 per share
Market Cap (Pre-IPO)
₹31.50 Cr
| IPO Date | 2 to 7 Sep, 2016 |
| Listed on | Wed, Sep 14, 2016 |
| Face Value | ₹10 per share |
| Issue Price | ₹38 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 23,40,000 shares (agg. up to ₹9 Cr) |
| Reserved for Market Maker | 1,26,000 shares Guiness Securities Ltd. (agg. up to ₹0.4788 Cr) |
| Fresh Issue (Ex Market Maker) | 22,14,000 shares (agg. up to ₹8 Cr) |
| Net Offered to Public | 22,14,000 shares (agg. up to ₹8 Cr) |
| Share Holding Pre Issue | 59,50,252 shares |
| Share Holding Post Issue | 82,90,252 shares |
| BSE Script Code | 540082 |
| ISIN | INE367U01013 |
Riddhi Steel IPO comprises a total issue size of 23,40,000 shares. The net offer to the public is 22,14,000 shares, after excluding 1,26,000 shares allotted on a firm basis. Of the Net offer 11,07,000 (50.00%) allocated to NII 11,07,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 11,07,000 | 50.00% | 47.31% |
| Retail Shares Offered | 11,07,000 | 50.00% | 47.31% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,26,000 | 5.38% | |
| Total Shares Offered | 23,40,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| 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.
| 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 meet working capital requirements | 7.00 |
| 2 | General Corporate Expenses | 1.56 |
| 3 | Issue Expenses | 0.33 |
Sorry, we couldn't find the subscription details. Note that the bidding starts at 10 AM and ends at 5 PM on the days when the public issue is open.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including fees and reimbursements of market making fees, underwriting fees, selling commissions, brokerages, and payment to other intermediaries such as legal advisors, registrars and other out of pocket expenses etc | 0.26 |
| 2 | Regulatory Fees | 0.02 |
| 3 | Other Expenses (marketing, printing, stationery, advertisement, postage etc.) | 0.05 |
| 4 | Issue expenses | 0.33 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹38.00 |
| Open | ₹37.70 |
| Low | ₹37.50 |
| High | ₹38.50 |
| Last Trade | ₹37.65 |
Lead Manager Reports
Riddhi Steel IPO is a SME IPO of 23,40,000 equity shares of the face value of ₹10 aggregating up to ₹9 Crores. The issue is priced at ₹38 per share. The minimum order quantity is 3000.
The IPO opens on Fri, Sep 2, 2016, and closes on Wed, Sep 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 Fri, Sep 2, 2016 and closes on Wed, Sep 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 Wed, Sep 14, 2016.
