Ramdevbaba Solvent IPO announces price band at ₹80-85 apiece; issue to open on April 15
- Ramdevbaba Solvent IPO priced at ₹80 to ₹85 per share opens for subscription on April 15 and closes on April 18. Company specialises in manufacturing and distributing rice bran oil to FMCG firms. IPO lot size consists of 1,600 shares.
Ramdevbaba Solvent IPO price band has been set in the range of ₹80 to ₹85 apiece of face value of ₹10 each. Ramdevbaba Solvent IPO will open for subscription on Monday, April 15, and close on Thursday, April 18. Ramdevbaba Solvent IPO lot size consists of 1,600 shares.
The company is in the business of manufacturing, distributing, marketing, and selling physically refined rice bran oil, or "rice bran oil," according to its red herring prospectus (RHP). The company produces and distributes rice bran oil to fast-moving consumer goods (FMCG) firms, including Empire Spices and Foods Ltd, Marico Limited, and Mother Dairy Fruit & Vegetable Private Limited.
Additionally, the firm produces, distributes, and sells rice bran oil under the exclusive names "Tulsi" and "Sehat" via thirty-eight (38) distributors, who then supply different Maharashtran shops. Rice bran oil is the oil that is taken from the bran, or tough, outer brown layer of rice.
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The allocation of equity shares for the Ramdevbaba Solvent IPO is as follows: QIB Anchor Portion: up to 16,80,000 equity shares; Net Qualified Institutional Buyers (QIB): up to 11,20,000 equity shares; Non-Institutional Investors (NII): up to 8,40,000 equity shares; Retail Individual Investors (RII): up to 19,60,000 equity shares; and Market Maker: up to 3,13,600 equity shares.
As per the RHP, the company's listed peers are BCL Industries Ltd (with a P/E of 21.15), Gokul Refoils and Solvent Ltd (with a P/E of 14.39 ), Gujarat Ambuja Exports Ltd (with a P/E of 10.99), Kriti Nutrients Ltd (with a P/E of 22.33), and Shri Venkatesh Refineries Ltd (with a P/E of 5.48).
Between March 31, 2022, and March 31, 2023, the company's profit after tax (PAT) climbed by 97.25%, while revenue increased by 20.35%.
Ramdevbaba Solvent IPO details
Ramdevbaba Solvent IPO, which is worth about ₹50.27 crore, consists of a fresh issue of 59,13,600 equity shares with a face value of ₹10. There is no offer-for-sale component.
The company plans to use the net proceeds of the offering to finance the establishment of a new manufacturing facility, the full or partial repayment of some of their outstanding debt, the funding of the company's working capital needs, and general corporate purposes.
The issue's Book Running Lead Manager is Choice Capital Advisors Private Ltd. Bigshare Services Private Limited is the IPOs registrar.
Ramdevbaba Solvent Limited's managing director, Nilesh Suresh Mohata, stated that the company will benefit from this IPO by increasing both its corporate recognition and its brand awareness. Repaying debt will also improve the balance sheet. According to Mohata, these actions will have several benefits, increase value, and solidify their overall position.
Ramdevbaba Solvent IPO GMP today
Ramdevbaba Solvent IPO GMP or grey market premium was ₹0, which meant shares were trading at their issue price of ₹85 with no premium or discount in the grey market according to investorgain.com.
The IPO GMP trend shows no significant movement based on the previous seven sessions' grey market activities. Investorgain.com experts estimate this trend to continue till the day of listing.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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