Ramdevbaba Solvent IPO: The initial public offering for Ramdevbaba Solvent IPO opens for subscription today (April 15). The IPO's price band has been set in the range of ₹80 to ₹85 apiece of face value of ₹10 each and it will close on April 10. The lot size of the IPO consists of 1,600 shares and equity shares up to 16,80,000 have been allocated to the QIB Anchor Portion, up to 11,20,000 equity shares to the Net Qualified Institutional Buyers (QIB), up to 8,40,000 equity shares to the Non-Institutional Investors (NII), up to 19,60,000 equity shares to the Retail Individual Investors (RII) and up to 3,13,600 equity shares to the Market Maker.
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Ramdevbaba Solvent IPO: Company details
Ramdevbaba Solvent in the business of manufacturing, distributing, marketing, and selling refined rice bran oil to fast-moving consumer goods (FMCG) firms like Empire Spices and Foods Ltd, Marico Limited, and Mother Dairy Fruit & Vegetable Private Limited. It does the same under the exclusive names "Tulsi" and "Sehat" via thirty-eight (38) distributors. The company's profit after tax (PAT) climbed by 97.25% during March 31, 2022 and March 31, 2023 while revenue increased by 20.35%, it said.
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Ramdevbaba Solvent IPO: Details
The IPO is worth about ₹50.27 crore and consists of a fresh issue of 59,13,600 equity shares with a face value of ₹10. There is no offer-for-sale component in the issue.
Ramdevbaba Solvent IPO: Objectives of the company
Net proceeds from the IPO will be used by the company to finance the establishment of a new manufacturing facility, full or partial repayment of of outstanding debt, funding of company's working capital needs and general corporate purposes, it said.
Ramdevbaba Solvent IPO: Registrar and lead manager of the IPO
{{/usCountry}}Net proceeds from the IPO will be used by the company to finance the establishment of a new manufacturing facility, full or partial repayment of of outstanding debt, funding of company's working capital needs and general corporate purposes, it said.
Ramdevbaba Solvent IPO: Registrar and lead manager of the IPO
{{/usCountry}}The IPO's book running lead manager is Choice Capital Advisors Private Ltd while the registrar is Bigshare Services Private Limited.
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Ramdevbaba Solvent IPO GMP today
The grey market premium is ₹18 which means that with the price band of ₹85, Ramdevbaba Solvent SME IPO's estimated listing price is ₹103, according to investorgain.com.