Fixed Price IPO | ₹7 Cr | Listed at BSE SME | Wed, Mar 14, 2018 - Fri, Mar 16, 2018
Ridings Consulting Engineers IPO is a fixed price issue of ₹6.55 crores. The issue is entirely a fresh issue of 0.36 crore shares of ₹6.55 crore.
Ridings Consulting Engineers IPO bidding started from Mar 14, 2018 and ended on Mar 16, 2018. The shares got listed on BSE SME on Mar 26, 2018.
Ridings Consulting Engineers IPO price is ₹18 per share. The lot size for an application is 8,000. The minimum amount of investment required by an individual investor (retail) is ₹1,44,000 (8000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (16,000 shares), amounting to ₹2,88,000.
Swastika Investmart Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Beeline Broking Ltd..
Refer to Ridings Consulting Engineers IPO RHP for detailed Information.
IPO Open
Wed, Mar 14, 2018
IPO Close
Fri, Mar 16, 2018
Issue Price
₹18 per share
Market Cap (Pre-IPO)
₹22.39 Cr
| IPO Date | 14 to 16 Mar, 2018 |
| Listed on | Mon, Mar 26, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹18 per share |
| Lot Size | 8,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 36,40,000 shares (agg. up to ₹7 Cr) |
| Reserved for Market Maker | 1,84,000 shares Beeline Broking Ltd. (agg. up to ₹0.3312 Cr) |
| Fresh Issue (Ex Market Maker) | 34,56,000 shares (agg. up to ₹6 Cr) |
| Net Offered to Public | 34,56,000 shares (agg. up to ₹6 Cr) |
| Share Holding Pre Issue | 88,00,000 shares |
| Share Holding Post Issue | 1,24,40,000 shares |
| BSE Script Code | 541151 |
| ISIN | INE314Z01014 |
Ridings Consulting Engineers IPO comprises a total issue size of 36,40,000 shares. The net offer to the public is 34,56,000 shares, after excluding 1,84,000 shares allotted on a firm basis. Of the Net offer 17,28,000 (50.00%) allocated to NII 17,28,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 17,28,000 | 50.00% | 47.47% |
| Retail Shares Offered | 17,28,000 | 50.00% | 47.47% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,84,000 | 5.05% | |
| Total Shares Offered | 36,40,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 8,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 8,000 | ₹1,44,000 |
| Retail (Max) | 1 | 8,000 | ₹1,44,000 |
| HNI (Min) | 2 | 16,000 | ₹2,88,000 |
Incorporated in 1995, Ridings Consulting Engineers India Limited is a Delhi based company engaged in providing Geospatial Services which includes Sub Surface Utility Engineering (SUE) Survey/ Ground-penetrating radar (GPR) Survey, Geographic Information Systems and Geospatial database development (GIS & Mapping Solution), Geospatial -Marketing consulting and planning, Training (GIS/ AutoCAD/ Arc Suite/ GPR/ EPL & DGPS/Total Station), Geographic Information Systems for Utilities (Power, Water & Telecom) and Land surveying and Geospatial Data (Digital & large Scale Geospatial Data) etc. Basically Geographic Information Systems (GIS) applications including mapping of utilities such as electrical network, telecom network, water supply and sewerage systems. The company provide services in the field such as GPR (Ground Penetrating Radar) / Sue Survey, Navigation Survey, Property Tax Surveys, Land Usage Surveys, Investigative Surveys (gather competition, market penetration data), Socio-Economic Surveys, Geospatial Application Development and Services which directly provide services to various private sector, Semi Government & Government entities in field of telecom, oil and gas, public utilities etc. in India, Bahrain and other Gulf countries.
The company is an ISO 9001:2015 certified company for providing training and services in the field of Topographical Ground Survey, Cartography, Digitization, Data Base, Software Development/Customization, GIS, Development, all type of Engineering, Survey/design and Remote sensing and Digital Photogrammetry Applications.
Ridings Consulting Engineers has maintained a long-standing relationship with major customers such as Reliance Jio, Airtel, L&T, TCS, Tom Tom, HERE (formerly NavTeq), Reliance ADA, TATA, Jacobs Zate, Mott McDonald, various government municipalities and utility providing agencies etc.
As on September 30, 2017, the company had 82 employees including Key Managerial Personnel.
| 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 Requirement | 5.00 |
| 2 | General Corporate Expenses | 0.80 |
The Ridings Consulting Engineers IPO is subscribed 1.32 times on March 16, 2018 5:00:00 PM (Day 3). The public issue subscribed 1.83 times in the retail category, [.] times in the QIB category, and 0.81 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 0.81 | 17,28,000 | 14,00,000 |
| Retail | 1.83 | 17,28,000 | 31,60,000 |
| Total | 1.32 | 34,56,000 | 45,60,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including underwriting and selling commissions, brokerages, payment to other intermediaries such as Legal Advisors, Registrars, etc | 0.32 |
| 2 | Printing and Stationery and postage expenses | 0.02 |
| 3 | Advertising and Marketing expenses | 0.36 |
| 4 | Statutory expenses | 0.05 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹18.00 |
| Open | ₹18.50 |
| Low | ₹18.00 |
| High | ₹18.50 |
| Last Trade | ₹18.00 |
Lead Manager Reports
Ridings Consulting Engineers IPO is a SME IPO of 36,40,000 equity shares of the face value of ₹10 aggregating up to ₹7 Crores. The issue is priced at ₹18 per share. The minimum order quantity is 8000.
The IPO opens on Wed, Mar 14, 2018, and closes on Fri, Mar 16, 2018.
Skyline Financial 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 Ridings Consulting Engineers IPO using UPI as a payment gateway. Zerodha customers can apply in Ridings Consulting Engineers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ridings Consulting Engineers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ridings Consulting Engineers IPO opens on Wed, Mar 14, 2018 and closes on Fri, Mar 16, 2018.
Ridings Consulting Engineers IPO lot size is 8000, and the minimum amount required for application is ₹1,44,000.
You can apply in Ridings Consulting Engineers 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 Ridings Consulting Engineers IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Ridings Consulting Engineers IPO allotment status.
The Ridings Consulting Engineers IPO listing date is on Mon, Mar 26, 2018.
