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Storage Technologies IPO is a book build issue of ₹29.95 crores. The issue is entirely a fresh issue of 0.38 crore shares of ₹29.95 crore.
Storage Technologies IPO bidding started from Apr 30, 2024 and ended on May 3, 2024. The allotment for Storage Technologies IPO was finalized on May 6, 2024. The shares got listed on BSE SME on May 8, 2024.
Storage Technologies IPO price band is set at ₹78.00 per share . The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,16,800 (1600 shares). The minimum lot size investment for HNI is 2 lots (3,200 shares), amounting to ₹2,49,600.
Oneview Corporate Advisors Pvt.Ltd. is the book running lead manager and Integrated Registry Management Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Nikunj Stock Brokers Ltd..
Refer to Storage Technologies IPO RHP for detailed Information.
| IPO Date | April 30, 2024 to May 3, 2024 |
| Listing Date | May 8, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹73 to ₹78 per share |
| Issue Price Final | ₹78 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 38,40,000 shares (aggregating up to ₹29.95 Cr) |
| Reserved for Market Maker | 2,00,000 shares Nikunj Stock Brokers Ltd. (aggregating up to ₹1.56 Cr) |
| Net Offered to Public | 36,40,000 shares (aggregating up to ₹28.39 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 90,00,000 shares |
| Share Holding Post Issue | 1,28,40,000 shares |
Storage Technologies Racks and Rollers IPO offers total 38,40,000 shares. Out of which 18,17,600 (47.33%) allocated to QIB, 7,28,000 (18.96%) allocated to QIB, 5,47,200 (14.25%) allocated to NII, 12,75,200 (33.21%) allocated to RII and 10,89,600 (28.38%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,00,000 (5.21%) |
| QIB Shares Offered | 18,17,600 (47.33%) |
| − Anchor Investor Shares Offered | 10,89,600 (28.38%) |
| − QIB (Ex. Anchor) Shares Offered | 7,28,000 (18.96%) |
| NII (HNI) Shares Offered | 5,47,200 (14.25%) |
| Retail Shares Offered | 12,75,200 (33.21%) |
| Total Shares Offered | 38,40,000 (100.00%) |
Storage Technologies IPO raises ₹8.50 crore from anchor investors. Storage Technologies IPO Anchor bid date is April 29, 2024. Storage Technologies IPO Anchor Investors list
| Bid Date | April 29, 2024 |
| Shares Offered | 10,89,600 |
| Anchor Portion Size (In Cr.) | 8.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 5, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 4, 2024 |
Storage Technologies IPO opens on April 30, 2024, and closes on May 3, 2024.
| IPO Open Date | Tue, Apr 30, 2024 |
| IPO Close Date | Fri, May 3, 2024 |
| Tentative Allotment | Mon, May 6, 2024 |
| Initiation of Refunds | Tue, May 7, 2024 |
| Credit of Shares to Demat | Tue, May 7, 2024 |
| Tentative Listing Date | Wed, May 8, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, May 3, 2024 |
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 | ₹1,24,800 |
| Retail (Max) | 1 | 1,600 | ₹1,24,800 |
| HNI (Min) | 2 | 3,200 | ₹2,49,600 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Founded in October 2010, "Storage Technologies and Automation Limited is engaged in storage racking systems.
The company manufactures and installs metal storage racks, automated warehouses, and other storage solutions. The company provides storage solutions for various industries, including oil & gas, automotive, aerospace, food & beverages, pharmaceuticals, textiles, retail, and FMCG.
The company is an ISO 9001:2015 certified storage solution manufacturing company.
The company's manufacturing process is supported by approximately 56,250 square feet of space in Bangalore and 20,000 square feet of storage space.
To date, the company has executed more than 2500 projects and has served more than 900 customers worldwide.
The company has a presence in over 30 countries across the globe.
As of October 31, 2023, the company has a total of 166 permanent employees and 94 contracted employees.
Storage Technologies & Automation Ltd's revenue increased by 16.42% and profit after tax (PAT) rose by 335.72% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Oct 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 6,375.77 | 4,004.01 | 3,567.70 | 3,113.04 |
| Total Income | 5,317.09 | 8,137.12 | 6,989.72 | 4,852.38 |
| Profit After Tax | 358.91 | 48.30 | -20.49 | 118.42 |
| Net Worth | 953.52 | 594.61 | 546.31 | 566.81 |
| Reserves and Surplus | 653.52 | 294.61 | 246.31 | 466.81 |
| Total Borrowing | 1,632.53 | 931.63 | 871.10 | 347.48 |
| Amount in ₹ Lakhs | ||||
| KPI | Values |
|---|---|
| ROE | 46.37% |
| ROCE | 22.52% |
| RoNW | 37.64% |
| PAT Margin | 6.78% |
The company intend to utilize the proceeds of the Issue to meet the following objects: -
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. It marked inconsistency in its bottom lines from FY21 to FY23 and posted bumper profits for 7M-FY24 which appears to be a window dressing for fancy valuation of the IPO. Though based on super annualized earnings of FY24, the issue appears fully priced, based on FY23 earnings, its exorbitantly priced. As of April 01, 2024, it had order book of Rs. 21+ cr. Well-informed/cash surplus investors may park funds for medium term. Read detail review...
| Listing Date | May 8, 2024 |
| BSE Script Code | 544171 |
| NSE Symbol | |
| ISIN | INE0RGM01016 |
| Final Issue Price | ₹78 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹78.00 |
| Open | ₹148.20 |
| Low | ₹148.20 |
| High | ₹155.59 |
| Last Trade | ₹153.05 |
Storage Technologies & Automation Ltd.
No 10, Survey No 21/6A
21/7A, 21/7B and 21/8 Singanayakanahalli,
Yelahanka, Bangalore, Bangalore-560064,
Bangalore Urban, Karnataka
Phone: +91 98444 86300
Email: cs@racksandrollers.com
Website: https://racksandrollers.com/
Integrated Registry Management Services Pvt.Ltd.
Phone: 044 - 28140801 to 28140803
Email: giri@integratedindia.in
Website: https://www.integratedregistry.in/RegistrarsToSTA.aspx?OD=1
Storage Technologies IPO is a SME IPO of 38,40,000 equity shares of the face value of ₹10 aggregating up to ₹29.95 Crores. The issue is priced at ₹78 per share. The minimum order quantity is 1600.
The IPO opens on April 30, 2024, and closes on May 3, 2024.
Integrated Registry Management 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 Storage Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Storage Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Storage Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Storage Technologies IPO opens on April 30, 2024 and closes on May 3, 2024.
Storage Technologies IPO lot size is 1600, and the minimum amount required for application is ₹1,24,800.
You can apply in Storage Technologies 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 Storage Technologies IPO will be done on Monday, May 6, 2024, and the allotted shares will be credited to your demat account by Tuesday, May 7, 2024. Check the Storage Technologies IPO allotment status.
The Storage Technologies IPO listing date is on Wednesday, May 8, 2024.
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