Thaai Casting was incorporated on 2 June 2010. The company is a distinguished automotive ancillary company with IATF 16949:2016 certification, specializing in high-pressure die casting, as well as the precision machining of both ferrous and non-ferrous materials, and induction heating and quenching.
| Bidding Dates |
|---|
| 15 Feb 2024 - 20 Feb 2024 |
| Subscription |
|---|
| 345.85x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,16,800 | 1 | 1 | 1600 | 6.1 M | ₹73 - ₹77 | 63.58 % | ₹447.5 M - ₹472.0 M | RHP DOC |
Thaai Casting IPO SUBSCRIPTION STATUS
20 Feb '24Thaai Casting IPO overall subscription rate was 345.85 times the total available shares
Thaai Casting IPO retail subscription rate was 467.94 times in the retail segment
Thaai Casting IPO non-institutional investor subscription rate was 960.38 times in the non-institutional investor category
Thaai Casting IPO Qualified Institutional Bidder subscription rate was 76.03 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
20 Feb 2024 (Day 4) | 467.94x | 960.38x | 76.03x |
19 Feb 2024 (Day 3) | 149.79x | 91.24x | 1.91x |
16 Feb 2024 (Day 2) | 27.74x | 10.08x | 1.85x |
15 Feb 2024 (Day 1) | 6.39x | 2.7x | 0.55x |
Thaai Casting 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 |
| 7MFY24 | 55.7 | 288.9 | -26.1 | -79.2 | 31.9% |
| FY23 | 50.4 | 489.6 | 72.6 | -67.4 | 25.2% |
| FY22 | 11.5 | 383.8 | -23.8 | -115.7 | 13.2% |
| FY21 | 4.0 | 204.3 | -16.5 | -88.0 | 13.1% |
Thaai Casting IPO SUBSCRIPTION STATUS DETAILS
Thaai Casting had 6.1 M shares on offer
Thaai Casting IPO offer price was in the range ₹73 - ₹77
Thaai Casting IPO minimum Investment was ₹116800
Thaai Casting IPO issue size was ₹ 447.5 M - ₹ 472.0 M
Thaai Casting had a minimum lot size of 1600 Shares per application
Thaai Casting NUMBER OF SHARES ON OFFER
Thaai Casting IPO IMPORTANT DATES
| Issue Open Date | 15 Feb 2024 |
| Issue close Date | 20 Feb 2024 |
| Allotment Date | 21 Feb 2024 |
| Refund Date | 21 Feb 2024 |
| Demat Account Credit Date | 22 Feb 2024 |
| Listing Date | 23 Feb 2024 |
| Listing on Exchange(s) | NSE |
| Thaai Casting Allotment Status | Exchange |
Thaai Casting IPO subscription opened on 15 Feb 2024, and closed on 20 Feb 2024
IPO allotment for Thaai Casting was finalized on Wednesday, 21 Feb 2024
IPO listing for Thaai Casting was on NSE on Friday, 23 Feb 2024
Thaai Casting IPO LISTING GAINS
| Issue Price (adjusted) | 77.0 |
| Listing Open Price | 185.9 |
| Listing Close Price | 195.2 |
| Listing Gain% | 141.4% |
| Current Gain% | 54.4% |
Thaai Casting 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Thaai Casting Ltd. | 118.8 | 274.9 | 22.7 | 2.4 | 1.9 | 11.5 | 4.4 | 146.4 | 18.9 | 12.8 | 15.3 | 5.2 | 9.6 |
| JSW Steel Ltd. | 1299.5 | 317786.7 | 12.8 | 0 | 1.7 | 22.3 | 8.3 | 186718 | 10.1 | 22316 | 536.9 | 101.3 | 411.7 |
| Tata Steel Ltd. | 187.6 | 234128.6 | 21.2 | 0.1 | 1 | 10.6 | 3.6 | 233541.7 | 6.1 | 10793.9 | 215.6 | 8.8 | 143.1 |
| Jindal Steel Ltd. | 1103 | 112515.7 | 41.4 | -5 | 2 | 6.6 | 3.4 | 53553.1 | 7.3 | 3367.4 | 19.7 | 26.6 | -8.4 |
| Steel Authority of India (SAIL) Ltd. | 176.6 | 72936.8 | 17.1 | 0.4 | 0.7 | 5.6 | 2.5 | 111705 | 8.1 | 3372.8 | 42.2 | 10.3 | 40.8 |
| Jindal Stainless Ltd. | 734.6 | 60566 | 18.6 | 0.7 | 1.4 | 16.1 | 7.8 | 43306.1 | 9.4 | 3193.4 | 27.5 | 39.4 | 26.3 |
Thaai Casting INFORMATION ON IPO ISSUE
About Thaai Casting
Thaai Casting was incorporated on 2 June 2010. The company is a distinguished automotive ancillary company with IATF 16949:2016 certification, specializing in high-pressure die casting, as well as the precision machining of both ferrous and non-ferrous materials, and induction heating and quenching.
Object of the Issue
- To meet out the capital expenditure
- To meet out the general corporate purposes
- To meet out the issue expenses
Thaai Casting - PROMOTERS
| Name |
|---|
| Sriramulu Anandan |
| Shevaani Anandan |
| Chinraj Venkatesan |
Thaai Casting Lead Manager of the Issue
GYR Capital Advisors Private Limited
info@gyrcapitaladvisors.com
Thaai Casting Registrar to the issue
Purva Sharegistry (India) Private Limited
support@purvashare.com
Thaai Casting Strengths
Continuous improvement
The company upholds a culture of continuous improvement through the implementation of the Kaizen philosophy within its business verticals of aluminum die casting, and induction heating and quenching
Production scalability
The company has a skilled workforce with adaptability and flexibility, aiming to ensure consistent and high-quality results. It believes this meets client demands in both aluminum die casting and induction heating and quenching applications
Thaai Casting Risks
Geographically concentrated
The company's revenues are highly dependent on its operations in the geographical region of the state of Tamil Nadu. Any adverse development affecting operations in this region could have an adverse impact on the business
Outstanding legal proceedings
There are outstanding legal proceedings involving the company. Any adverse decision in such proceedings may have a material adverse effect on the business
IPO FAQs
The promoters of the company are Sriramulu Anandan, Shevaani Anandan and Chinraj Venkatesan.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 73.0 - 77.0.
The IPO application opens on Feb 15, 2024 and closes on Feb 20, 2024.
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. 116,800.0, the maximum value for this IPO is Rs 123,200.0.
This IPO will be allotted on Feb 21, 2024.
The refund will be credited to your account on Feb 21, 2024.
The allotted shares will be credited to your demat on Feb 22, 2024.
Thaai Casting Ltd.’s shares listed on the stock exchanges on Feb 23, 2024.