Rite Zone Chemcon India was incorporated on March 10, 2015. The company offers complete construction solutions by supplying a complete range of various chemical products related to civil construction, infrastructure, building, and structure including pre-construction or post construction as well as supplying all types of concrete required for construction and infrastructure developments.
| Bidding Dates |
|---|
| 31 Oct 2022 - 02 Nov 2022 |
| Subscription |
|---|
| 4.73x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | 1 | 1600 | 1.2 M | ₹75 | 71.75 % | ₹89.6 M | RHP DOC |
Rite Zone Chemcon IPO SUBSCRIPTION STATUS
02 Nov '22Rite Zone Chemcon IPO overall subscription rate was 4.73 times the total available shares
Rite Zone Chemcon IPO retail subscription rate was 7.1 times in the retail segment
Rite Zone Chemcon IPO non-institutional investor subscription rate was 2.36 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
01 Nov 2022 (Day 2) | 2.48x | 1.05x | - |
02 Nov 2022 (Day 3) | 7.1x | 2.36x | - |
31 Oct 2022 (Day 1) | 0.96x | 0.61x | - |
Rite Zone Chemcon 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) | Margins |
| Q2FY23 | 1.7 | 103.4 | 1.4 | 1.4 | 5.3% |
| FY22 | 2.6 | 49.3 | -36.1 | -38.1 | 17.7% |
| FY21 | 0.1 | 38.0 | 10.9 | 1.6 | 8.1% |
| FY20 | 1.6 | 57.5 | -2.7 | -6.0 | 9.5% |
Rite Zone Chemcon IPO SUBSCRIPTION STATUS DETAILS
Rite Zone Chemcon had 1.2 M shares on offer
Rite Zone Chemcon IPO offer price was ₹75
Rite Zone Chemcon IPO minimum Investment was ₹120000
Rite Zone Chemcon IPO issue size was ₹ 89.6 M
Rite Zone Chemcon had a minimum lot size of 1600 Shares per application
Rite Zone Chemcon NUMBER OF SHARES ON OFFER
Rite Zone Chemcon IPO IMPORTANT DATES
| Issue Open Date | 31 Oct 2022 |
| Issue close Date | 02 Nov 2022 |
| Allotment Date | 07 Nov 2022 |
| Refund Date | 09 Nov 2022 |
| Demat Account Credit Date | 10 Nov 2022 |
| Listing Date | 11 Nov 2022 |
| Listing on Exchange(s) | NSE |
| Rite Zone Chemcon Allotment Status | Exchange |
Rite Zone Chemcon IPO subscription opened on 31 Oct 2022, and closed on 02 Nov 2022
IPO allotment for Rite Zone Chemcon was finalized on Monday, 07 Nov 2022
IPO listing for Rite Zone Chemcon was on NSE on Friday, 11 Nov 2022
Rite Zone Chemcon IPO LISTING GAINS
| Issue Price (adjusted) | 75.0 |
| Listing Open Price | 82.8 |
| Listing Close Price | 87.0 |
| Listing Gain% | 10.5% |
| Current Gain% | -74.5% |
Rite Zone Chemcon 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rite Zone Chemcon India Ltd. | 19.1 | 8.1 | 23.7 | -0.4 | 0.3 | 2.2 | 1.5 | 25.8 | -2.3 | 0.3 | -61.8 | 0.8 | -61.8 |
| Midwest Ltd. | 1197 | 4328.4 | 41.3 | -2.9 | 6.7 | 10.9 | 7.7 | 659.8 | 2.6 | 104.8 | -14.4 | 29 | -14.4 |
| Shankara Buildpro Ltd. | 1336.2 | 3240.2 | 24.7 | 0.2 | 0.5 | 23.4 | 8 | 6827.1 | 29.6 | 127.7 | 63.4 | 54.1 | 114.3 |
| Pokarna Ltd. | 986.6 | 3058.9 | 32.2 | -0.7 | 5.2 | 9.4 | 5 | 593.7 | -37.6 | 80.6 | -57 | 30.6 | -48.1 |
| Ramco Industries Ltd. | 339.6 | 2949.6 | 9.6 | 0.1 | 1.7 | 6.8 | 6.2 | 1807.3 | 7.9 | 306.3 | 69.3 | 35.3 | 69.3 |
| Arisinfra Solutions Ltd. | 132.4 | 1083.1 | 16.3 | 0 | 0.9 | 7.1 | 5.1 | 1080 | 38.1 | 52.7 | 2452.3 | 8.1 | 9720.6 |
Rite Zone Chemcon INFORMATION ON IPO ISSUE
About Rite Zone Chemcon
Rite Zone Chemcon India was incorporated on March 10, 2015. The company offers complete construction solutions by supplying a complete range of various chemical products related to civil construction, infrastructure, building, and structure including pre-construction or post construction as well as supplying all types of concrete required for construction and infrastructure developments.
Object of the Issue
- To part finance the working capital requirements
- General corporate purposes
- To meet issue expenses
Rite Zone Chemcon - PROMOTERS
| Name |
|---|
| Bhavesh Babulal Bhandari |
| Arti Bhavesh Bhandari |
Rite Zone Chemcon Lead Manager
Expert Global Consultants Private Limited
ipo@expertglobal.in
Rite Zone Chemcon Registrar to the Issue
Skyline Financial Services Limited
compliances@skylinerta.com
Rite Zone Chemcon Strengths
Wide product portfolio
The company's products portfolio consists of construction chemicals with good control over concrete admixture made of fine sulfonated naphthalene formaldehyde (naphtha-based) and polycarboxylate based
Quality assurance
The products are certified as compliant with the quality standards of ISO 9001:2015
Asset light business model
The business model is such that the company relies on its ability and formulas to provide quality and technically sound products
Longstanding customer relationships
The company has made efforts to ensure customer satisfaction by taking steps for meeting customer-specific requirements, timely delivery of orders to customers as well as maintaining consistency in quality and this has yielded results in the form of repeat orders from customers
Rite Zone Chemcon Risks
Relies on third parties
The relies on third parties for manufacturing of products for the performance of services carried out by the company
Dependent on few numbers of customers and suppliers
The Company is dependent on a few numbers of customers and suppliers for sales and purchases and the loss of any of these large customers and suppliers will significantly affect revenues and profitability
Incurred borrowings
The company has incurred borrowings from commercial banks and an inability to comply with repayment and other covenants in financing agreements could adversely affect business and financial condition
Negative cash flows
The company has had negative cash flows in the past and it is possible that it may experience negative cash flows in the future
IPO FAQs
The promoters of the company are Bhavesh Babulal Bhandari and Arti Bhavesh Bhandari.
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 75.0 - 75.0.
The IPO application opens on Oct 31, 2022 and closes on Nov 02, 2022.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 120,000.0, the maximum value for this IPO is Rs 120,000.0.
This IPO will be allotted on Nov 07, 2022.
The refund will be credited to your account on Nov 09, 2022.
The allotted shares will be credited to your demat on Nov 10, 2022.
Rite Zone Chemcon India Ltd.’s shares listed on the stock exchanges on Nov 11, 2022.