Rhetan TMT was incorporated on June 26, 1984. 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 they manufacture TMT Bars and Round Bars which are primarily used in the construction industry.
| Bidding Dates |
|---|
| 22 Aug 2022 - 25 Aug 2022 |
| Subscription |
|---|
| 1.47x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,40,000 | 1 | 1 | 2000 | 8.0 M | ₹70 | 62.35 % | ₹560.0 M | RHP DOC |
Rhetan TMT IPO SUBSCRIPTION STATUS
25 Aug '22Rhetan TMT IPO overall subscription rate was 1.47 times the total available shares
Rhetan TMT IPO retail subscription rate was 0.76 times in the retail segment
Rhetan TMT IPO non-institutional investor subscription rate was 2.18 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
25 Aug 2022 (Day 4) | 0.76x | 2.18x | - |
24 Aug 2022 (Day 3) | 0.51x | 2.11x | - |
23 Aug 2022 (Day 2) | 0.32x | 2.1x | - |
22 Aug 2022 (Day 1) | 0.13x | 2.1x | - |
Rhetan TMT FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| FY22 | 23.5 | 670.3 | -144.8 | -145.8 |
| FY21 | 1.3 | 520.9 | -70.2 | -71.9 |
| FY20 | -5.8 | 200.1 | -119.2 | -135.2 |
Rhetan TMT IPO SUBSCRIPTION STATUS DETAILS
Rhetan TMT had 8.0 M shares on offer
Rhetan TMT IPO offer price was ₹70
Rhetan TMT IPO minimum Investment was ₹140000
Rhetan TMT IPO issue size was ₹ 560.0 M
Rhetan TMT had a minimum lot size of 2000 Shares per application
Rhetan TMT NUMBER OF SHARES ON OFFER
Rhetan TMT IPO IMPORTANT DATES
| Issue Open Date | 22 Aug 2022 |
| Issue close Date | 25 Aug 2022 |
| Allotment Date | 30 Aug 2022 |
| Refund Date | 01 Sep 2022 |
| Demat Account Credit Date | 02 Sep 2022 |
| Listing Date | 05 Sep 2022 |
| Listing on Exchange(s) | BSE |
| Rhetan TMT Allotment Status | Exchange |
Rhetan TMT IPO subscription opened on 22 Aug 2022, and closed on 25 Aug 2022
IPO allotment for Rhetan TMT was finalized on Tuesday, 30 Aug 2022
IPO listing for Rhetan TMT was on BSE on Monday, 05 Sep 2022
Rhetan TMT IPO LISTING GAINS
| Issue Price (adjusted) | 1.9 |
| Listing Open Price | 70.0 |
| Listing Close Price | 66.5 |
| Listing Gain% | 0.0% |
| Current Gain% | 1306.4% |
Rhetan TMT Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rhetan TMT Ltd. | 26.3 | 55.9 | 203.5 | 1.9 | 85.7 | 9.5 | 6.2 | 33 | -14.9 | 10.3 | 232.7 | 0.1 | 107.9 |
| APL Apollo Tubes Ltd. | 2001.7 | 55578.9 | 45.2 | 0.8 | 2.4 | 22.7 | 13.6 | 23190.8 | 11.6 | 1203.1 | 58.9 | 44.3 | 53.4 |
| Welspun Corp Ltd. | 1855 | 48933.2 | 21.2 | 1.4 | 2.8 | 17.6 | 7.9 | 16905.4 | 19.3 | 1613 | -15.5 | 87.5 | 14.9 |
| Usha Martin Ltd. | 510.6 | 15558.6 | 30.7 | 1.2 | 4.1 | 14.1 | 11.1 | 3759.9 | 7 | 466 | 14.4 | 16.6 | 25.4 |
| Vedanta Iron and Steel Ltd. | 39.2 | 15317 | 0 | -191.6 | 0 | 0 | -28.4 | ||||||
| Technocraft Industries (India) Ltd. | 2887.7 | 6547.2 | 22.9 | 2 | 2.4 | 14.1 | 8.8 | 2860.8 | 6.1 | 285.3 | 11.4 | 125.8 | 11.4 |
Rhetan TMT INFORMATION ON IPO ISSUE
About Rhetan TMT
Rhetan TMT was incorporated on June 26, 1984. 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 they manufacture TMT Bars and Round Bars which are primarily used in the construction industry.
Object of the Issue
- Funding capital expenditure for expansion and modernization at 325, Karannagar, Kadi-Kalol Road, Taluka Kadi, Dist. Mehsana, Gujarat - 382715
- Funding working capital requirements
- General corporate purpose
Rhetan TMT - PROMOTERS
| Name |
|---|
| Shalin Shah |
| Ashoka Metcast Limited |
Rhetan TMT Lead Manager of the Issue
Aryaman Financial Services
ipo@afsl.co.in
Rhetan TMT Registrar to the Issue
Bigshare Services Private Limited
ipo@bigshareonline.comWebsite
Rhetan TMT Strengths
Well educated and experienced management
The company's senior management is well experienced in the trading and manufacturing industry of steel products
Group synergies
The company is part of Gujarat based diversified business group promoted by Mr. Shalin Ashok Shah and his family
Location of the manufacturing unit
The manufacturing unit is located around 45 kilometres from Ahmedabad in the Industrial area of Kadi near the Ahmedabad-Mehsana highway, both Ahmedabad and Mehsana are large markets for steel products and thus the location is strategically advantageous
Rhetan TMT Risks
Legal proceedings
The company, group companies, promoters and directors are parties to certain legal proceedings
Cyclical business
The steel industry is highly cyclical and volatility in steel prices may have an adverse effect on the company's results of operations and financial conditions
Dependent on few customers
A substantial portion of the revenues is dependent upon a few customers. The loss of any one or more of the major clients would have a material effect on the revenue of the company.
IPO FAQs
The promoters of the company are Shalin Shah and Ashoka Metcast Limited.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 70.0 - 70.0.
The IPO application opens on Aug 22, 2022 and closes on Aug 25, 2022.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 140,000.0, the maximum value for this IPO is Rs 140,000.0.
This IPO will be allotted on Aug 30, 2022.
The refund will be credited to your account on Sep 01, 2022.
The allotted shares will be credited to your demat on Sep 02, 2022.
Rhetan TMT Ltd.’s shares listed on the stock exchanges on Sep 05, 2022.