Fixed Price IPO | ₹9 Cr | Listed at NSE SME | Mon, Oct 31, 2022 - Wed, Nov 2, 2022
Rite Zone Chemcon IPO is a fixed price issue of ₹8.96 crores. The issue is entirely a fresh issue of 0.12 crore shares of ₹8.96 crore.
Rite Zone Chemcon IPO bidding started from Oct 31, 2022 and ended on Nov 2, 2022. The allotment for Rite Zone Chemcon IPO was finalized on Nov 7, 2022. The shares got listed on NSE SME on Nov 11, 2022.
Rite Zone Chemcon IPO price is ₹75 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,40,000.
Expert Global Consultants Pvt.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 Rikhav Securities Ltd..
Refer to Rite Zone Chemcon IPO RHP for detailed Information.
IPO Open
Mon, Oct 31, 2022
IPO Close
Wed, Nov 2, 2022
Issue Price
₹75 per share
Market Cap (Pre-IPO)
₹31.73 Cr
| IPO Date | 31 Oct to 2 Nov, 2022 |
| Listed on | Fri, Nov 11, 2022 |
| Face Value | ₹10 per share |
| Issue Price | ₹75 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 11,95,200 shares (agg. up to ₹9 Cr) |
| Reserved for Market Maker | 60,800 shares Rikhav Securities Ltd. (agg. up to ₹0.4560 Cr) |
| Fresh Issue (Ex Market Maker) | 11,34,400 shares (agg. up to ₹9 Cr) |
| Net Offered to Public | 11,34,400 shares (agg. up to ₹9 Cr) |
| Share Holding Pre Issue | 30,35,070 shares |
| Share Holding Post Issue | 42,30,270 shares |
| NSE Symbol | RITEZONE |
| ISIN | INE0MRA01019 |
Rite Zone Chemcon IPO comprises a total issue size of 11,95,200 shares. The net offer to the public is 11,34,400 shares, after excluding 60,800 shares allotted on a firm basis. Of the Net offer 5,66,400 (49.93%) allocated to NII 5,68,000 (50.07%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 5,66,400 | 49.93% | 47.39% |
| Retail Shares Offered | 5,68,000 | 50.07% | 47.52% |
| Firm Reservations | |||
| Market Maker Shares Offered | 60,800 | 5.09% | |
| Total Shares Offered | 11,95,200 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,20,000 |
| Retail (Max) | 1 | 1,600 | ₹1,20,000 |
| HNI (Min) | 2 | 3,200 | ₹2,40,000 |
Incorporation in 2015, Rite Zone Chemcon India Limited deals in a range of construction chemicals and concrete products. The company offers complete construction solutions by supplying a complete range of various chemical products related to civil construction, infrastructure, building & structure including pre-construction or post construction as well as supplying all types of concrete required for construction and infrastructure developments.
The company's products include Concrete Admixture, Water Proofing Systems, Concrete Lubricators, Engineering Grouts, Industrial Flooring, Concrete Repairs, Curing Compound & Mould Release Agents, Surface Treatment, Tiling & Block Products.
Rite Zone Chemcon India Limited outsource the chemical products production to a third-party manufacturer. The company has also tied up with concrete manufacturers in Maharashtra for concrete production.
Strengths:
| Period Ended | 30 Sep 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 12.41 | 10.39 | 6.78 | 6.67 |
| Total Income | 10.36 | 5.66 | 3.84 | 5.75 |
| Profit After Tax | 0.17 | 0.26 | 0.01 | 0.16 |
| NET Worth | 5.20 | 5.02 | 0.63 | 0.63 |
| Reserves and Surplus | 2.16 | 1.99 | 0.62 | 0.62 |
| Total Borrowing | 0.97 | 1.06 | 3.29 | 2.58 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working Capital Requirements | 6.75 |
| 2 | General Corporate Purposes | 0.50 |
| 3 | Issue Expenses | 1.71 |
| KPI | |
|---|---|
| ROE | 5.2% |
| ROCE | 10.7% |
| Debt/Equity | 0.21 |
| RoNW | 5.22% |
| PAT Margin | 5.31% |
| EBITDA Margin | 4.78% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 1.49 | |
| P/E (x) | 90.36 | |
| Promoter Holding | 58.39% | |
| Market Cap | ₹31.73 Cr. |
The Rite Zone Chemcon IPO is subscribed 4.73 times on November 2, 2022 7:00:00 PM (Day 3). The public issue subscribed 7.1 times in the retail category, [.] times in the QIB category, and 2.36 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.36 | 5,66,400 | 13,39,200 |
| Retail | 7.1 | 5,68,000 | 40,32,000 |
| Total | 4.73 | 11,34,400 | 53,71,200 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue relating expenses such as fees to Lead manager Fixed Fee, Registrar to the Issue Legal Advisors, Auditors, Consultants, Paper Advertisements and other expenses incurred/ to be incurred including promotional expenses. | 1.34 |
| 2 | Underwriting commission, brokerage and selling commission (including Commission/ processing fees for SCSBs, Sponsor Bank, Members of the Syndicate, Registered Brokers, RTAs and CDPs | 0.24 |
| 3 | Listing fees, Stock Exchange processing/ listing fees, software fees, Depositories’ fees and other expenses | 0.14 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹75.00 |
| Open | ₹82.85 |
| Low | ₹78.75 |
| High | ₹86.95 |
| Last Trade | ₹86.95 |
Lead Manager Reports
Rite Zone Chemcon IPO is a SME IPO of 11,95,200 equity shares of the face value of ₹10 aggregating up to ₹9 Crores. The issue is priced at ₹75 per share. The minimum order quantity is 1600.
The IPO opens on Mon, Oct 31, 2022, and closes on Wed, Nov 2, 2022.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Rite Zone Chemcon IPO using UPI as a payment gateway. Zerodha customers can apply in Rite Zone Chemcon IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Rite Zone Chemcon IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Rite Zone Chemcon IPO opens on Mon, Oct 31, 2022 and closes on Wed, Nov 2, 2022.
Rite Zone Chemcon IPO lot size is 1600, and the minimum amount required for application is ₹1,20,000.
You can apply in Rite Zone Chemcon 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 Rite Zone Chemcon IPO will be done on Monday, November 7, 2022, and the allotted shares will be credited to your demat account by Thu, Nov 10, 2022. Check the Rite Zone Chemcon IPO allotment status.
The Rite Zone Chemcon IPO listing date is on Fri, Nov 11, 2022.
