February 15, 2024
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Rudra Gas Enterprise IPO Watch, Guidance & Subscription Status at Chanakyanipothi.com,
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Rudra Gas Enterprise IPO Post Listing Review :
On 15th February, the scrip is listed at Rs. 119.70, compared to the Issue-price of Rs. 63, at a premium of 90%. The listing has been in the line of expectations of grey market players.
Rudra Gas Enterprise IPO Subscription
On 12 February 2024 5.00 pm (Day 3)(Closed)
Review: Strong response from RIIs on Day 3
NII: 1066000 Shares 286.62 T
RII: 1066000 Shares 404.38 T
Total: 2132000 Shares 350.75 T
What is the business of Rudra Gas Enterprise?
The company is engaged in various facets of the infrastructure sector. It is mainly engaged in gas distribution network projects, fiber cable network, renting of construction machinery and vehicles. It provides end-to-end solutions for the city gas distribution sector. Its expertise is in pipeline construction, civil works, and operation and maintenance, for pipeline networks in city gas distribution. Its services ensure the safe and efficient transportation of vital resources such as Compressed Natural Gas (“CNG”) and Piped Natural Gas (“PNG”).
Over the years, it has successfully executed more than 50 projects our major completed projects quantify to approximately Rs 12,708 Lakhs.
It derives its revenue from following three business verticals:
a) Gas Pipeline Projects
b) Fiber Cable Projects
c) Renting of Construction Machineries and vehicles
As on October 31, 2023, it has an order book position for execution of approximately Rs 32,783 lakhs which are at different stages of implementation and out of which approximately Rs 7,571 Lakhs revenue is already booked.
Get more information about the company @ www.rudragasenterprise.com
| Rudra Gas Enterprise IPO Details | |
| IPO opens on | 8 February 2024 |
| IPO closes on | 12 February 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 2248000 Sh /Rs 14.16 Cr |
| * Fresh Issue | 2248000 Sh /Rs 14.16 Cr |
| * Offer for Sale | – Sh /Rs – Cr |
| Market Maker Portion | 116000 Sh. |
| Net offer to Public | 2132000 Sh./Rs.13.43 Cr |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 63 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 2000 Shares |
| Listing will at | BSE SME |
| Shares offered in Rudra Gas Enterprise IPO | ||
| Shares | Rs. (Cr) | |
| QIB (50%) | – | – |
| NII (15%) | 1066000 | 6.72 |
| RII (35%) | 1066000 | 6.71 |
| Total Shares | 2132000 | 13.43 |
| Retail portion will be oversubscribed by | 1066 | |
| Forms | ||
| How much Shares to Apply in Rudra Gas Enterprise IPO? | ||
| Min Retail Application | 2000 Sh | Rs. 126000 |
| Min HNI Application | 4000 Sh | Rs.252000 |
Who are the Promoters of Rudra Gas Enterprise IPO?
The PROMOTERS OF RUDRA GAS ENTERPRISE are MR. KUSH SURESHBHAI PATEL, MR. KASHYAP SURESHBHAI PATEL AND MRS. MANJULABEN SURESHBHAI PATEL
What are the Objects of Rudra Gas Enterprise IPO?
The Offer comprises only of a Fresh Issue of Equity shares.
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
1. To Meet Working Capital Requirements
2. General Corporate Purposes
3. To meet Public Issue Expenses
| Rudra Gas Enterprise IPO Tentative timetable | |
| IPO opens on | 8 February 2024 |
| IPO Closes on | 12 February 2024 |
| IPO Allotment on | 13 February2024 |
| Refund Initiation | 14 February 2024 |
| Credit of Shares | 14 February 2024 |
| Listing on | 15 February 2024 |
| Registered Office of the Company B-702, The Capital Building, Science City Road, Opp. Hetarth Party Plot, Sola, Ahmedabad-380060, Gujarat, India |
| Who is the Lead Manager of Rudra Gas Enterprise IPO? Beeline Capital Advisors Pvt Ltd |
| Who is the Registrar to IPO? Link Intime India Private Ltd |
| Rudra Gas Enterprise IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | – | – | 2.42 | 47.57 |
| 2021-22 | – | – | 3.42 | 40.18 |
| 2022-23 | 34.36 | 2.47 | 6.71 | 44.09 |
| Book Value of the Share on | 31.03.2023 | Rs 15.21 | ||
| BV of the Share at cap price | after the IPO | Rs. ? | ||
| Offer Price/upper band | Rs. 63 | |||
| Rudra Gas Enterprise IPO Key Performance indicators |
|
| Price/last EPS of 22-23 | 9.38 |
| Price/BV Ratio | 4.14 |
| Upper price/BV after IPO | |
How Rudra Gas Enterprise IPO compares with the Peers?
| As per DRHP | FV | Total Income | PE Ratio |
| In Rs. Cr | |||
| Rudra Gas Enterprises | 10 | 49.42 9.38 | |
| Lithika Infrastructure | 5 | 364.95 | 15.43 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Rudra Gas Enterprise IPO To the point Guidance
The company is mainly engaged in gas distribution network projects, fiber cable network, renting of construction machinery and vehicles. It provides end-to-end solutions for the city gas distribution sector. As on October 31, 2023, it has an order book position for execution of approximately Rs 32,783 lakhs which are at different stages of implementation
Size: Being a SME IPO, the size of the IPO (net Rs 13.43 Cr) is very not large, as per the recent trend. With 1066 Applications, the retail portion will get one time subscribed. Considering, the hunger of the investors, there should not be any problem in getting full subscription.
Financial Snapshot: The company has shown sharp rise in the top line and bottom line of F23. This raises eyebrows. The market for gas distribution network projects, fiber cable network is expanding at phenomenon rate and yet the business of the company has tough competition of large corporations and other manufacturers. From offer-price valuation angle, the shares are offered at very reasonable valuation and looking to the IPO-hungry market, huge oversubscription and positive listing is possible. Before applying, do have a look at the grey market premium and then take final decision.
Quicklinks
Rudra Gas Enterprise IPO GMP Detail IPO GMP today details?
Rudra Gas Enterprise IPO
Rudra Gas Enterprise IPO FAQs
What is Rudra Gas Enterprise IPO?
Rudra Gas Enterprise IPO is a SME IPO of 22480000 equity shares of the face value of Rs. 10 aggregating up to Rs.14.16 Crores. The issue is priced at Rs.63 per share. The minimum order quantity is 2000 Shares.
When Rudra Gas Enterprise IPO will open?
Rudra Gas Enterprise IPO opens on February 8, 2024, and closes on February 12, 2024.
What is the lot size of Rudra Gas Enterprise IPO?
Rudra Gas Enterprise IPO lot size is 2000 Shares, and the minimum amount required is Rs.126000
How to apply for Rudra Gas Enterprise IPO?
You can apply in Rudra Gas Enterprise IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
When is Rudra Gas Enterprise IPO allotment?
The finalization of Basis of Allotment for Rudra Gas Enterprise IPO will be done on February 13, 2024, and the allotted shares will be credited to your demat account by February 14, 2024.
When is Alpex Solar IPO listing date?
Rudra Gas Enterprise IPO listing date is not yet announced. The tentative date of Alpex Solar IPO listing is February 15, 2024.
