Rhetan TMT IPO Details & Guidance
Rhetan TMT IPO Listing
The scrip on 5 September 2022 listed at Rs. 70 (issue price Rs. 70) and showed intraday high of Rs. 72.
Grey Market News for Rhetan TMT IPO #
On 5 September 2022
Subject to Rates: Rs. 0
Grey Market Premium: Rs. 0
Subscription Trend
On 25 August 2022 @ 5.00 pm
NII (50%) 37,92,000 Shares: 2.18 T
RII (50%) 37,92,000 Shares: 0.76 T
Tot 7584,000 Shares: 1.47 T
Rhetan TMT IPO Details
IPO Date August 22, 2022, to August 25, 2022
IPO Face Value Rs 10 per share
IPO Price Rs 70 per share
IPO Lot Size 2000 Shares
Issue Size 80,00,000 shares of Rs 10
(Aggregating up to Rs 56 Cr)
Fresh Issue 80,00,8000 shares of Rs 10
(Aggregating up to Rs 56 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME
Retail Shares Offered 50% of the net offer
NII (HNI) Shares Offered 50% of the net offer
Retail Quota: 50 % / 3792,000 Shares
Minimum 2000 Rs 140,000
Maximum 2000 Rs 140,000
Retail: 1896 Applications required for one-time subscriptions.
Rhetan TMT IPO Timetable
IPO Opening Date August 22, 2022
IPO Closing Date August 25, 2022
Basis of Allotment August 30, 2022
Initiation of Refunds Sept 1, 2022
Credit of Shares to Demat Sept 2, 2022
IPO Listing Date Sept 5, 2022
Rhetan TMT Business
The Company owns and operates a Steel Rolling Mill with an aggregate installed capacity of 30,000 MTPA. It is an IS 1786: 2008 certified company and it manufacture TMT Bars and Round Bars which are primarily used in construction industry. Its products have been used in construction of dams, bridges, residential and commercial towers and major infrastructure projects in Gujarat.
Its plant is located at Survey No. 325, Karannagar, Kadi-Kalol Road, Taluka Kadi, Dist. Mehsana, Gujarat – 382715and is spread over 15,000 sq. yards. The plant is fully geared with latest technologies to provide good quality steel productsand the plant is operating smoothly since 2019.It has a vision to become one the trusted brands in TMT Bars manufacturing in its geography.
The sales have increased at a CAGR of 83.18 % from Rs. 2,000.84 lakhs in FY 2020 to Rs. 6,702.87 lakhs in FY 2022. Further its EBIDTA has increased at a CAGR of 167.07 % from Rs. 64.62 Lakhs in FY 2020 to Rs. 459.67 Lakhs in FY 2022.Due to this strong historical growth, the company has decided to further expand its manufacturing capacities and hence it has decided to raise funds to increase its plant capacities and also its working capital capabilities. For more information about the company,Click http://www.rhetan.com/
Promoters of Rhetan TMT
Ashoka Metcast Limited and Shalin Shah
Rhetan TMT: Objects of the IPO
1)Funding capital expenditure for expansion and modernization at 325, Karannagar, Kadi-Kalol Road, Taluka Kadi, Dist. Mehsana, Gujarat – 382715
2) Funding Working capital requirements
Registered office of Rhetan TMT
7th Floor, Ashoka Chambers, Rasala Marg, Mithakhali,
Ahmedabad- 380006
Company Secretary and Compliance Officer: Payal Pandya
Lead Manager of Rhetan TMT IPO
Aryaman Financial Services limited
SME IPO Financial & Analytical Ratios#
Earnings per Share 2019-20 Rs (1.45)
Earnings per Share 2020-21 Rs 0.18
Earnings per Share 2021-22 Rs 2.00
Return on Net Worth: 19-20: (192.14) %
Return on Net Worth: 20-21: 1.71 %
Return on Net Worth: 21-22: 10.14 %
Book Value of the Share as on 31.3.22 Rs 17.46
NAV after the IPO Rs.37.24
Offer Price Rs. 70
IPO Peer Comparison:
Incredible @ PE Multiple of 30.91
Hariom Pipe @ PE Multiple of 11.89
Supershakti Metaliks @ PE Ratio of 32.01
Kamdhenu @ PE Ratio of 19.91
Observation by Paresh Gordhandas (Research Analyst)
Guidance: Will be updated soon
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Is it worth to apply rhetan tmtltd IPO?