Bookbuilding IPO | ₹47 Cr | Listed at NSE SME | Thu, Feb 15, 2024 - Tue, Feb 20, 2024
Thaai Casting IPO is a book build issue of ₹47.20 crores. The issue is entirely a fresh issue of 0.61 crore shares of ₹47.20 crore.
Thaai Casting IPO bidding started from Feb 15, 2024 and ended on Feb 20, 2024. The allotment for Thaai Casting IPO was finalized on Feb 21, 2024. The shares got listed on NSE SME on Feb 23, 2024.
Thaai Casting IPO price band is set at ₹77 per share. The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,23,200 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,46,400.
GYR Capital Advisors Pvt.Ltd. is the book running lead manager and Purva Sharegistry (India) Pvt.Ltd. is the registrar of the issue. The Market Maker of the company areGiriraj Stock Broking Pvt.Ltd., Commodity Mandi Pvt.Ltd..
Refer to Thaai Casting IPO RHP for detailed Information.
IPO Open
Thu, Feb 15, 2024
IPO Close
Tue, Feb 20, 2024
Issue Price
₹77 per share
Market Cap (Pre-IPO)
₹178.10 Cr
| IPO Date | 15 to 20 Feb, 2024 |
| Listed on | Fri, Feb 23, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹73 to ₹77 |
| Issue Price | ₹77 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 61,29,600 shares (agg. up to ₹47 Cr) |
| Reserved for Market Maker | 3,47,200 shares Giriraj Stock Broking Pvt.Ltd. (agg. up to ₹3 Cr) Commodity Mandi Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) | 57,82,400 shares (agg. up to ₹45 Cr) |
| Net Offered to Public | 57,82,400 shares (agg. up to ₹45 Cr) |
| Share Holding Pre Issue | 1,70,00,000 shares |
| Share Holding Post Issue | 2,31,29,600 shares |
| NSE Symbol | TCL |
| ISIN | INE0QJL01014 |
Thaai Casting IPO comprises a total issue size of 61,29,600 shares. The net offer to the public is 57,82,400 shares, after excluding 3,47,200 shares allotted on a firm basis. Of the Net offer 28,89,600 (49.97%) are allocated to QIB, 8,68,800 (15.02%) allocated to NII 20,24,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 28,89,600 | 49.97% | 47.14% |
| − Anchor Investor Shares Offered | 17,34,400 | 28.30% | |
| − QIB (Ex. Anchor) Shares Offered | 11,55,200 | 18.85% | |
| NII (HNI) Shares Offered | 8,68,800 | 15.02% | 14.17% |
| Retail Shares Offered | 20,24,000 | 35.00% | 33.02% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,47,200 | 5.66% | |
| Total Shares Offered | 61,29,600 | 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 | ₹1,23,200 |
| Retail (Max) | 1 | 1,600 | ₹1,23,200 |
| HNI (Min) | 2 | 3,200 | ₹2,46,400 |
Thaai Casting IPO raises ₹13.35 crore from anchor investors. Thaai Casting IPO Anchor bid date is February 14, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Feb 14, 2024 |
| Shares Offered | 17,34,400 |
| Anchor Portion (₹ Cr.) | 13.35 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Mar 21, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, May 20, 2024 |
Incorporated in June 2010, Thai Casting Limited is an automotive ancillary company specializing in High-Pressure Die Casting, as well as the precision Machining of both Ferrous and Non-Ferrous materials and Induction heating and quenching. The company has three business verticals:-
Thaai Casting is an IATF 16949: 2016 certified company.
The company offers a wide range of automotive components, such as engine mounting support brackets, transmission mounts, fork shift and housing, steering wheel armatures, electrical connectors, YFG base frames (both right-hand and left-hand drive side), housing, top cover, and more. The manufacturing unit is located in No Tiruvallur, Tamil Nadu, India,
The company has a die-making facility for new product development according to the required specifications. The die maintenance process is done with utmost care to ensure the dies run continuously and have a longer lifespan.
As of September 30, 2023, the company employs 132 people in various departments.
| Period Ended | 31 Oct 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 146.38 | 54.99 | 37.52 | 23.79 |
| Total Income | 48.49 | 49.12 | 38.42 | 20.49 |
| Profit After Tax | 8.61 | 5.04 | 1.15 | 0.40 |
| NET Worth | 41.17 | 16.17 | 8.95 | 4.73 |
| Reserves and Surplus | 6.21 | |||
| Total Borrowing | 78.30 | 29.85 | 23.51 | 13.14 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditure | 37.30 |
| 2 | General Corporate Purposes | 7.40 |
| KPI | |
|---|---|
| ROCE | 13% |
| Debt/Equity | 1.85 |
| RoNW | 40.10% |
| PAT Margin | 10.29% |
| Price to Book Value | 8.10 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.96 | 6.38 |
| P/E (x) | 25.99 | 12.07 |
| Promoter Holding | 86.50% | |
| Market Cap | ₹178.10 Cr. |
The Thaai Casting IPO is subscribed 375.43 times on February 20, 2024 6:20:00 PM (Day 4). The public issue subscribed 355.66 times in the retail category, 144.43 times in the QIB category, and 729.72 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 144.43 | 11,56,800 | 16,70,80,000 |
| NII* | 729.72 | 8,67,200 | 63,28,12,800 |
| Retail | 355.66 | 20,24,000 | 71,98,46,400 |
| Total | 375.43 | 40,48,000 | 1,51,97,39,200 |
Total Application : 4,49,904
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including Merchant Banking fees, Underwriting fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses | 0.75 |
| 2 | Advertising and Marketing Expenses | 1.25 |
| 3 | Fees payable to the stock exchange(s) | 0.04 |
| 4 | Printing & Stationery, Distribution, Postage, etc. | 0.05 |
| 5 | Brokerage and Selling Commission | 0.15 |
| 6 | Other Expenses (Banker’s to the Issue, Auditor’s Fees etc.) | 0.26 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹77.00 |
| Open | ₹185.90 |
| Low | ₹176.60 |
| High | ₹195.15 |
| Last Trade | ₹195.15 |
Purva Sharegistry (India) Pvt.Ltd.
Lead Manager Reports
Thaai Casting IPO is a SME IPO of 61,29,600 equity shares of the face value of ₹10 aggregating up to ₹47 Crores. The issue is priced at ₹77 per share. The minimum order quantity is 1600.
The IPO opens on Thu, Feb 15, 2024, and closes on Tue, Feb 20, 2024.
Purva Sharegistry (India) Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Thaai Casting IPO using UPI as a payment gateway. Zerodha customers can apply in Thaai Casting IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Thaai Casting IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Thaai Casting IPO opens on Thu, Feb 15, 2024 and closes on Tue, Feb 20, 2024.
Thaai Casting IPO lot size is 1600, and the minimum amount required for application is ₹1,23,200.
You can apply in Thaai Casting 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 Thaai Casting IPO will be done on Wednesday, February 21, 2024, and the allotted shares will be credited to your demat account by Thu, Feb 22, 2024. Check the Thaai Casting IPO allotment status.
The Thaai Casting IPO listing date is on Fri, Feb 23, 2024.
