Ramdevbaba Solvent, incorporated on November 25, 2008, operates in the manufacturing, distribution, marketing, and selling of physically refined rice bran oil. The company supplies rice bran oil to FMCG companies such as Mother Dairy Fruit & Vegetable, Marico, and Empire Spices and Foods. Additionally, it markets and sells rice bran oil under its own brands, Tulsi and Sehat, through thirty-eight distributors, who then distribute to various retailers across Maharashtra.
| Bidding Dates |
|---|
| 15 Apr 2024 - 18 Apr 2024 |
| Subscription |
|---|
| 116.93x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,28,000 | 1 | 1 | 1600 | 5.9 M | ₹80 - ₹85 | 61.09 % | ₹473.1 M - ₹502.7 M | RHP DOC |
Ramdevbaba Solvent IPO SUBSCRIPTION STATUS
18 Apr '24Ramdevbaba Solvent IPO overall subscription rate was 116.93 times the total available shares
Ramdevbaba Solvent IPO retail subscription rate was 105.77 times in the retail segment
Ramdevbaba Solvent IPO non-institutional investor subscription rate was 416.45 times in the non-institutional investor category
Ramdevbaba Solvent IPO Qualified Institutional Bidder subscription rate was 34.89 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
18 Apr 2024 (Day 3) | 105.77x | 416.45x | 34.89x |
16 Apr 2024 (Day 2) | 17.81x | 20.51x | 0.01x |
15 Apr 2024 (Day 1) | 7.35x | 11.17x | 0x |
Ramdevbaba Solvent 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 |
| 9MFY24 | 82.9 | 4,635.9 | 104.5 | 13.6 | 4.7% |
| FY23 | 130.0 | 6,977.5 | 108.4 | -286.6 | 3.6% |
| FY22 | 65.9 | 5,828.8 | 26.1 | -156.3 | 3.3% |
| FY21 | 61.7 | 4,239.3 | 115.5 | -17.6 | 3.9% |
Ramdevbaba Solvent IPO SUBSCRIPTION STATUS DETAILS
Ramdevbaba Solvent had 5.9 M shares on offer
Ramdevbaba Solvent IPO offer price was in the range ₹80 - ₹85
Ramdevbaba Solvent IPO minimum Investment was ₹128000
Ramdevbaba Solvent IPO issue size was ₹ 473.1 M - ₹ 502.7 M
Ramdevbaba Solvent had a minimum lot size of 1600 Shares per application
Ramdevbaba Solvent NUMBER OF SHARES ON OFFER
Ramdevbaba Solvent IPO IMPORTANT DATES
| Issue Open Date | 15 Apr 2024 |
| Issue close Date | 18 Apr 2024 |
| Allotment Date | 19 Apr 2024 |
| Refund Date | 22 Apr 2024 |
| Demat Account Credit Date | 22 Apr 2024 |
| Listing Date | 23 Apr 2024 |
| Listing on Exchange(s) | NSE |
| Ramdevbaba Solvent Allotment Status | Exchange |
Ramdevbaba Solvent IPO subscription opened on 15 Apr 2024, and closed on 18 Apr 2024
IPO allotment for Ramdevbaba Solvent was finalized on Friday, 19 Apr 2024
IPO listing for Ramdevbaba Solvent was on NSE on Tuesday, 23 Apr 2024
Ramdevbaba Solvent IPO LISTING GAINS
| Issue Price (adjusted) | 85.0 |
| Listing Open Price | 112.0 |
| Listing Close Price | 117.6 |
| Listing Gain% | 31.8% |
| Current Gain% | 7.7% |
Ramdevbaba Solvent 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ramdevbaba Solvent Ltd. | 91.5 | 202.4 | 19.2 | -0.6 | 0.2 | 7 | 1.9 | 828.8 | -11.4 | 11.4 | -23.8 | 4.8 | -29.8 |
| Patanjali Foods Ltd. | 357.5 | 38899.9 | 21.4 | 0.5 | 1 | 13.8 | 9.6 | 40347.8 | 17.7 | 1814.5 | 39.5 | 16.7 | 39.5 |
| AWL Agri Business Ltd. | 197.5 | 25668.7 | 22.2 | 33.6 | 0.3 | 10 | 4.2 | 75148.5 | 17.6 | 1042 | -14.9 | 8.9 | 0.7 |
| Gokul Agro Resources Ltd. | 228.8 | 6751.6 | 16 | 0.3 | 0.3 | 26 | 7.5 | 24116.7 | 23.1 | 369.4 | 50.4 | 14.3 | 59.2 |
| CIAN Agro Industries & Infrastructure Ltd. | 1359.5 | 3804.7 | 16.9 | 0 | 1.7 | 10.3 | 5.2 | 2279 | 116.3 | 222.7 | 441 | 80.3 | 445.8 |
| BN Agrochem Ltd. | 269.5 | 2635 | 77.1 | 1.3 | 3 | 7.4 | 6.5 | 873.7 | 137.9 | 34.4 | 74 | 3.5 | 57.2 |
Ramdevbaba Solvent INFORMATION ON IPO ISSUE
About Ramdevbaba Solvent
Ramdevbaba Solvent, incorporated on November 25, 2008, operates in the manufacturing, distribution, marketing, and selling of physically refined rice bran oil. The company supplies rice bran oil to FMCG companies such as Mother Dairy Fruit & Vegetable, Marico, and Empire Spices and Foods. Additionally, it markets and sells rice bran oil under its own brands, Tulsi and Sehat, through thirty-eight distributors, who then distribute to various retailers across Maharashtra.
Object of the Issue
- Setting up of new manufacturing facility
- Repayment in full or in part, of certain of the outstanding borrowings
- Funding the working capital requirements of the company
- General corporate purposes
Ramdevbaba Solvent - PROMOTERS
| Name |
|---|
| Prashant Kisanlal Bhaiya |
| Nilesh Suresh Mohata |
| Tushar Ramesh Mohata |
Ramdevbaba Solvent Lead Manager of the Issue
Choice Capital Advisors Private Limited
rbsl.ipo@choiceindia.com
Ramdevbaba Solvent Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Ramdevbaba Solvent Strengths
Strategic location
The company's manufacturing facilities, strategically located near Nagpur, Maharashtra, provide it with a competitive advantage in supplying and distributing rice bran oil. The proximity to various rice mills near the manufacturing facilities ensures a steady supply of raw materials on a regular basis
Economies of scale
The company's integration strategy enables it to reduce costs and achieve economies of scale by controlling inputs and production based on each previous process. This approach enhances efficiency and margins for the company
Quality control
Over the years, the company has placed significant emphasis on stringent quality control measures for its products. Each of its manufacturing facilities is equipped with a QC laboratory dedicated to conducting tests on raw materials, finished products, and by-products
Ramdevbaba Solvent Risks
Dependent on one product
The company relies heavily on rice bran oil for a significant portion of its revenues. Any reduction in demand or production of such products could potentially have an adverse effect on the company's business, results of operations, and financial condition
Outstanding legal proceedings
The company is currently involved in outstanding legal proceedings, including those with its subsidiary, directors, and promoters. The outcome of these proceedings may have adverse effects on the company's business, financial condition, and results of operations
Contingent liabilities
The company has certain contingent liabilities that, if realized, could adversely affect its financial condition
IPO FAQs
The promoters of the company are Prashant Kisanlal Bhaiya, Nilesh Suresh Mohata and Tushar Ramesh Mohata.
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 80.0 - 85.0.
The IPO application opens on Apr 15, 2024 and closes on Apr 18, 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. 128,000.0, the maximum value for this IPO is Rs 136,000.0.
This IPO will be allotted on Apr 19, 2024.
The refund will be credited to your account on Apr 22, 2024.
The allotted shares will be credited to your demat on Apr 22, 2024.
Ramdevbaba Solvent Ltd.’s shares listed on the stock exchanges on Apr 23, 2024.