Ramdevbaba Solvent IPO is a book built issue of Rs 50.27 crores. The issue is entirely a fresh issue of 59.14 lakh shares.
Ramdevbaba Solvent IPO opens for subscription on April 15, 2024 and closes on April 18, 2024. The allotment for the Ramdevbaba Solvent IPO is expected to be finalized on Friday, April 19, 2024. Ramdevbaba Solvent IPO will list on NSE SME with tentative listing date fixed as Tuesday, April 23, 2024.
Ramdevbaba Solvent IPO price band is set at ₹80 to ₹85 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹136,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹272,000.
Choice Capital Advisors Pvt Ltd is the book running lead manager of the Ramdevbaba Solvent IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Ramdevbaba Solvent IPO is Choice Equity Broking.
Refer to Ramdevbaba Solvent IPO RHP for detailed information.
Ramdevbaba Solvent IPO Details
| IPO Date | April 15, 2024 to April 18, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹80 to ₹85 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,913,600 shares (aggregating up to ₹50.27 Cr) |
| Fresh Issue | 5,913,600 shares (aggregating up to ₹50.27 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 16,211,750 |
| Share holding post issue | 22,125,350 |
| Market Maker portion | 281,600 shares Choice Equity Broking |
Ramdevbaba Solvent IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Ramdevbaba Solvent IPO Timeline (Tentative Schedule)
Ramdevbaba Solvent IPO opens on April 15, 2024, and closes on April 18, 2024.
| IPO Open Date | Monday, April 15, 2024 |
| IPO Close Date | Thursday, April 18, 2024 |
| Basis of Allotment | Friday, April 19, 2024 |
| Initiation of Refunds | Monday, April 22, 2024 |
| Credit of Shares to Demat | Monday, April 22, 2024 |
| Listing Date | Tuesday, April 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 18, 2024 |
Ramdevbaba Solvent IPO Lot Size
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹136,000 |
| Retail (Max) | 1 | 1600 | ₹136,000 |
| HNI (Min) | 2 | 3,200 | ₹272,000 |
| Lot Size Calculator | |||
Ramdevbaba Solvent IPO Promoter Holding
Prashant Kisanlal Bhaiya, Nilesh Suresh Mohata, and Tushar Ramesh Mohata are the promoters of the company.
| Share Holding Pre Issue | 81.01% |
| Share Holding Post Issue |
About Ramdevbaba Solvent Limited
Founded in 2008, Ramdevbaba Solvent Limited produces and distributes physically refined rice bran oil.
The Company is engaged in the manufacture, distribution, marketing and sale of rice bran oil to FMCG companies such as Mother Dairy Fruit & Vegetable Private Limited, Marico Limited and Empire Spices and Foods Ltd. The Company also manufactures, markets and sells rice bran oil under its own brands “Tulsi” and “Sehat” through thirty eight (38) distributors who in turn sell to various retailers in Maharashtra.
The company also manufactures de-oiled rice bran (DORB), which is a by-product of rice bran oil extraction, and sells it as livestock, poultry and fish feed in the states of Maharashtra, Goa, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Karnataka, Kerala and Tamil Nadu. Other by-products such as fatty acid, lecithin, gum, spent soil and wax are sold on the open market.
Ramdevbaba Solvent has two production facilities, one in Mahadula and the other in Bramhapuri near Nagpur in the state of Maharashtra,
Ramdevbaba Solvent Limited Financial Information (Restated)
Ramdevbaba Solvent Limited’s revenue increased by 20.35% and profit after tax (PAT) rose by 97.25% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 20,341.24 | 19,062.61 | 13,134.86 | 10,125.05 |
| Revenue | 46,569.81 | 70,433.41 | 58,525.46 | 42,717.32 |
| Profit After Tax | 828.90 | 1,300.15 | 659.15 | 617.06 |
| Net Worth | 6,857.15 | 4,783.25 | 3,483.10 | 2,823.95 |
| Reserves and Surplus | 5,235.97 | 4,324.52 | 3,024.37 | 2,365.22 |
| Total Borrowing | 9,998.78 | 9,922.63 | 6,485.67 | 4,474.16 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Ramdevbaba Solvent IPO is Rs 188.07 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROCE | 10.76% |
| Debt/Equity | 1.46 |
| RoNW | 14.24% |
| P/BV | 1.83 |
| PAT Margin (%) | 1.79 |
Check Ramdevbaba Solvent IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.02 | 5 |
| P/E (x) | 10.6 | 17.02 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 2023 that is available in RHP.
Objects of the Issue (Ramdevbaba Solvent IPO Objectives)
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
- Setting up of new manufacturing facility;
- Repayment in full or in part, of certain outstanding borrowings;
- Funding the working capital requirements of the company; and
- General corporate purposes.
Ramdevbaba Solvent Limited Contact Details
Ramdevbaba Solvent Limited
Bhaiya Building,
Anaj Bazar, Itwari,
Nagpur – 440 002
Phone: +91 0712-7968 189
Email: cs@rbsl.co.in
Website: http://www.ramdevbabasol.com/
Ramdevbaba Solvent IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html