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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 ₹75.00 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). The minimum lot size investment for 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 Date | October 31, 2022 to November 2, 2022 |
| Listing Date | November 11, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹75 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 11,95,200 shares (aggregating up to ₹8.96 Cr) |
| Reserved for Market Maker | 60,800 shares Rikhav Securities Ltd. (aggregating up to ₹0.4560 Cr) |
| Net Offered to Public | 11,34,400 shares (aggregating up to ₹8.51 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 30,35,070 shares |
| Share Holding Post Issue | 42,30,270 shares |
Rite Zone Chemcon IPO offers total 11,95,200 shares. Out of which 5,66,400 (47.39%) allocated to NII, 5,68,000 (47.52%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 60,800 (5.09%) |
| NII (HNI) Shares Offered | 5,66,400 (47.39%) |
| Retail Shares Offered | 5,68,000 (47.52%) |
| Total Shares Offered | 11,95,200 (100.00%) |
Rite Zone Chemcon IPO opens on October 31, 2022, and closes on November 2, 2022.
| IPO Open Date | Mon, Oct 31, 2022 |
| IPO Close Date | Wed, Nov 2, 2022 |
| Tentative Allotment | Mon, Nov 7, 2022 |
| Initiation of Refunds | Wed, Nov 9, 2022 |
| Credit of Shares to Demat | Thu, Nov 10, 2022 |
| Tentative Listing Date | Fri, Nov 11, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Nov 2, 2022 |
Investors can bid for a minimum of 1,600 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 | 1,600 | ₹1,20,000 |
| Retail (Max) | 1 | 1,600 | ₹1,20,000 |
| HNI (Min) | 2 | 3,200 | ₹2,40,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 666.83 | 574.77 | 15.89 | 62.53 | 61.53 | 258.12 |
| 31-Mar-21 | 677.87 | 384.21 | 0.69 | 63.26 | 62.26 | 329.3 |
| 31-Mar-22 | 1039.27 | 565.73 | 26.21 | 502.36 | 198.86 | 106.24 |
| 30-Sep-22 | 1240.92 | 1036.34 | 17.48 | 519.85 | 216.34 | 97.36 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Rite Zone Chemcon IPO is ₹31.73 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 90.36 |
The company intend to utilize the proceeds of the Issue to meet the following objects:
1. To part finance the Working Capital Requirements.
2. General Corporate Purposes.
3. To meet Issue Expenses.
[Dilip Davda] RZCIL is in a highly competitive and fragmented segment. It has priced the IPO exorbitantly even on the basis of its super earnings. A small equity base post-IPO indicates s longer gestation period for migration to the mainboard. There is no harm in skipping this pricy issue. Read detail review...
| Listing Date | November 11, 2022 |
| BSE Script Code | |
| NSE Symbol | RITEZONE |
| ISIN | INE0MRA01019 |
| Final Issue Price | ₹75 per share |
| BSE Listing Group | ST |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹75.00 |
| Open | ₹82.85 |
| Low | ₹78.75 |
| High | ₹86.95 |
| Last Trade | ₹86.95 |
Rite Zone Chemcon India Ltd.
Row House 11,
Beverly Park, Row House CHS Ltd,
Mira Road,
Thane, Maharashtra, 401107
Phone: +91 22 6884 9680
Email: cs@ritezone.in
Website: http://www.ritezone.in/
Skyline Financial Services Pvt.Ltd.
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Rite Zone Chemcon IPO is a SME IPO of 11,95,200 equity shares of the face value of ₹10 aggregating up to ₹8.96 Crores. The issue is priced at ₹75 per share. The minimum order quantity is 1600.
The IPO opens on October 31, 2022, and closes on November 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 October 31, 2022 and closes on November 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 Thursday, November 10, 2022. Check the Rite Zone Chemcon IPO allotment status.
The Rite Zone Chemcon IPO listing date is on Friday, November 11, 2022.
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