Ramdevbaba Solvent IPO opens today: Check price band, dates and key details before subscribing - Hindustan Times
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Ramdevbaba Solvent IPO opens today: Check price band, dates and key details before subscribing

Apr 15, 2024 07:50 AM IST

Ramdevbaba Solvent IPO: 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.

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.

Ramdevbaba Solvent IPO: The IPO will open for subscription on April 15 and close on April 18.
Ramdevbaba Solvent IPO: The IPO will open for subscription on April 15 and close on April 18.

Read more: Grill Splendour Services IPO opens: All you need to know before subscribing

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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Read more: Grill Splendour Services IPO to Ramdevbaba Solvent IPO, check list of upcoming offers, listings

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

The IPO's book running lead manager is Choice Capital Advisors Private Ltd while the registrar is Bigshare Services Private Limited.

Read more: 18,000 crore Vodafone Idea FPO: An overview

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.

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