Rappid Valves share price makes a stellar debut, stock opens with 40.5% premium at ₹312 apiece on NSE SME

Rappid Valves share price made a positive debut on NSE SME today. Rappid Valves share price today opened at ₹312, which is 40.5% higher than the issue price of ₹222.

The Rappid Valves (India) IPO subscription period started on Monday, September 23, and ended on Wednesday, September 25. The price band for each share of the Rappid Valves IPO was between ₹210 and ₹222, with a face value of ₹10. There were multiple shares available, and bidders could apply for a minimum of 600 shares. Rappid Valves IPO subscription status was 176.06 times on the last bidding day, as per chittorgarh.com.

Rappid Valves (India) Limited was founded in 2002 and is mainly involved in the production of valve solutions.

The firm sells a range of valves, such as globe, butterfly, check, double block, filter, ball, gate, and marine valves. These valves are available in diameters ranging from 15mm to 600mm to accommodate a variety of needs. They are constructed from ferrous and non-ferrous materials.

The manufacturing unit of the company is furnished with an extensive array of standard machinery, which facilitates a smooth and efficient manufacturing process. This machinery includes conventional and automated CNC machines, VMCs, test benches, EOT cranes, lathes, milling machines, drilling machines, grinders, saws, testers, lapping machines, welders, compressors, buffing machines, and testing equipment.

Rappid Valves IPO details

The Rappid Valves IPO, valued ₹30.41 crore, includes a fresh issuance of 1,369,800 equity shares with a face value of ₹10. There is no "offer for sale" component.

The company intends to use the net proceeds of the offering to finance the following goals: financing the capital expenditure for the company's acquisition of new equipment, plant, and software; expenditure for the remodeling of the company's registered office and current production facility; Full or partial repayment of the loans that the company has taken out; pursuit of inorganic development plans through acquisitions; and general corporate purposes.

Shreni Shares Limited is serving as the book running lead manager for the Rappid Valves (India) IPO, with Link Intime India Private Ltd acting as the registrar for the issue. Rikhav Securities has been appointed as the market maker for the Rappid Valves (India) IPO.

Rappid Valves IPO GMP today

Rappid Valves IPO GMP is +100. This indicates Rappid Valves share price were trading at a premium of ₹100 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Rappid Valves share price was indicated at ₹322 apiece, which is 45.05% higher than the IPO price of ₹222.

'Grey market premium' indicates investors' readiness to pay more than the issue price.'

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