January 4, 2023
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RBM Infracon IPO Analysis at Chanakyanipothi.com
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The scrip on 4th January 2023, listed at Rs. 52.50 (issue price Rs. 36) giving profit of 46% on listing
RBM Infracon IPO Guidance:
The Company is engaged in the business of engineering, execution, testing, commissioning operation and maintenance, particularly in the field of mechanical and rotary equipment. The IPO size is not large and hence oversubscription is not an issue. Looking to the profitability and current market scenario, small listing gains can be expected.
RBM Infracon IPO Grey Market updates
Observations: (?)
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Subscription Status
# On 27 December 2022 @ 5.00 pm (Closed)
NII: 1104000 Shares, 46.31T
RII: 1104000 Shares, 34.23T
Total: 2208000 Shares 40.27T
RBM Infracon Company Details
The Company is engaged in the business of engineering, execution, testing, commissioning operation and maintenance, particularly in the field of mechanical and rotary equipment for Oil & Gas Refineries, Gas Cracker Plants, Coal/Gas/WHR based Power Plants, Petrochemical, Chemicals, Cement, Fertilizers. The company is Class -I certified Boiler Repairer / Erector and System /Feed Line fabricator / Erector service provider under Indian Boiler Regulations- 1950. The Company provides following services in different plant like crude (CDU-VDU), DHDS, FCCU, NHT-CCR, HMU-I & II, VGO –DHDT-ISOM, CPP (Boiler, Piping HT job with IBR coordination), DCU(Coker) Utility, Off site, RTF (Pit area) dispatch, Rail and Jetty with around 650 Manpower and also involve in ARC maintenance job in RIL-Jamnagar and YARA-Babrala.
It has executed around 14 Turnaround Shutdowns Job including Mega/Mini Shutdowns in Reliance Industries Limited, Nayara Energy Limited (Formerly Known as Essar Oil Limited) and Yara Fertilizers India Limited & HMEL-Bathinda
It has work order book of approximately Rs 121 Crores (Including GST) as on September 06, 2022. Recently the company has received letter of Intent from Malco Energy Limited (Part of Vedanta Group) worth Rs 200 Crores for Operations and Maintenance of Metcoke Manufacturing Plant. Contract Tenure is for 3 years.
For more information about the company, Click www.rbminfracon.com
| RBM Infracon IPO Details | |
| IPO opens on | 23 December 2022 |
| IPO closes on | 27 December 2022 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 2325000 Sh /Rs 8.37 Cr |
| * Fresh Issue | 2325000 Shares /Rs 8.37 Cr |
| * Offer for Sale | – Shares /Rs (?)Crore |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 36 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 3000 Shares |
| Listing will at | NSE Sme |
| Shares offered to | ||
| Shares | Rs. (Cr) | |
| QIB (00 %) | 0 | 0 |
| NII (50 %) | 1104000 | 3.97 |
| RII (50 %) | 1104000 | 3.97 |
| Total Shares | 2208000 | 7.94 |
| Retail portion will be oversubscribed by | 368 | |
| Forms | ||
| How much Shares to Apply? | ||
| Min Retail Application | 3000 Sh | Rs. 108000 |
| Max Retail Application | 6000 Sh | Rs. 216000 |
Promoters of the IPO
Mr. Jaybajrang Ramaishish Mani
Objects of the IPO:
The Company intends to utilize the Net Fresh Issue Proceeds for funding working capital requirements.
| RBM Infracon IPO Tentative timetable | |
| IPO opens on | 23 December,2022 |
| IPO Closes on | 27 December,2022 |
| IPO Allotment on | 30 December,2022 |
| Unblocking of ASBA | 2 January 2022 |
| Credit to Shares | 3 January 2022 |
| Listing on | 4 January2022 |
| Registered Office of RBM Infracon IPO | |
| C/O Rahul Mani Tripathi Mb Complex, Main Road, Baitalpur, 274201 |
|
| RBM Infracon IPO Lead Managers | |
| Beeline Capital Advisors Pvt Ltd | |
| Registrar to RBM Infracon IPO | |
| Skyline Financial Services Private Ltd |
| RBM Infracon IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. Cr | Rs. Cr | Rs. | % | |
| 2019-20 | 35.76 | -0.12 | -0.21 | -2.23 |
| 2020-21 | 38.89 | -1.22 | -2.22 | -28.81 |
| 2021-22 | 47.63 | 1.91 | 3.12 | 29.22 |
| Book Value of the Share on | 31.03.2022 | Rs.10.69 | ||
| Book Value of the Share | after the IPO | Rs.- | ||
| Offer Price | Rs. 36 | |||
| Ratio Analysis | |
| Upper Price Band/last EPS | 11.53 |
| Upper offer price/Book Value Ratio | 3.36 |
| Upper offer price/BV after IPO Ratio | |
RBM Infracon IPO Peer Comparison
There is no other listed company having similar business that of this company
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