Readymix Construction Machinery Ltd. was established on January 24, 2012. The company provides engineering solutions for designing, developing, fabricating, and installing industrial machinery, including Dry Mix Mortar Plants, Ready-Mix Concrete support equipment, high-capacity silos, crushers, and customized projects. It serves industries such as cement, concrete, crushing, construction, and building materials
| Bidding Dates |
|---|
| 06 Feb 2025 - 10 Feb 2025 |
| Subscription |
|---|
| 4.35x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,21,000 | 1 | 1 | 1000 | 3.1 M | ₹121 - ₹123 | 72.06 % | ₹370.5 M - ₹376.6 M | RHP DOC |
Readymix Construction IPO SUBSCRIPTION STATUS
10 Feb '25Readymix Construction IPO overall subscription rate was 4.35 times the total available shares
Readymix Construction IPO retail subscription rate was 5.65 times in the retail segment
Readymix Construction IPO non-institutional investor subscription rate was 6.8 times in the non-institutional investor category
Readymix Construction IPO Qualified Institutional Bidder subscription rate was 2.71 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
10 Feb 2025 (Day 3) | 5.65x | 6.8x | 2.71x |
07 Feb 2025 (Day 2) | 2.13x | 2.17x | 1.04x |
06 Feb 2025 (Day 1) | 0.94x | 1.19x | 0.45x |
Readymix Construction 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 |
| 9MFY25 | 10.4 | 354.9 | -66.1 | -82.9 | 8.3% |
| FY24 | 92.8 | 697.9 | 28.4 | 8.0 | 19.6% |
| FY23 | 27.8 | 550.0 | 5.7 | -15.8 | 8.3% |
| FY22 | 13.3 | 478.2 | -25.9 | -27.3 | 4.9% |
Readymix Construction IPO SUBSCRIPTION STATUS DETAILS
Readymix Construction had 3.1 M shares on offer
Readymix Construction IPO offer price was in the range ₹121 - ₹123
Readymix Construction IPO minimum Investment was ₹121000
Readymix Construction IPO issue size was ₹ 370.5 M - ₹ 376.6 M
Readymix Construction had a minimum lot size of 1000 Shares per application
Readymix Construction NUMBER OF SHARES ON OFFER
Readymix Construction IPO IMPORTANT DATES
| Issue Open Date | 06 Feb 2025 |
| Issue close Date | 10 Feb 2025 |
| Allotment Date | 11 Feb 2025 |
| Refund Date | 12 Feb 2025 |
| Demat Account Credit Date | 12 Feb 2025 |
| Listing Date | 13 Feb 2025 |
| Listing on Exchange(s) | BSE |
| Readymix Construction Allotment Status | Exchange |
Readymix Construction IPO subscription opened on 06 Feb 2025, and closed on 10 Feb 2025
IPO allotment for Readymix Construction was finalized on Tuesday, 11 Feb 2025
IPO listing for Readymix Construction was on BSE on Thursday, 13 Feb 2025
Readymix Construction IPO LISTING GAINS
| Issue Price (adjusted) | 123.0 |
| Listing Open Price | 123.0 |
| Listing Close Price | 116.8 |
| Listing Gain% | 0.0% |
| Current Gain% | -7.5% |
Readymix Construction 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Readymix Construction Machinery Ltd. | 113.8 | 124.7 | 13.4 | 22.8 | 1.7 | 15.3 | 11 | 73.5 | 5.2 | 9.3 | 0.6 | 8.5 | 0.6 |
| 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 |
Readymix Construction INFORMATION ON IPO ISSUE
About Readymix Construction
Readymix Construction Machinery Ltd. was established on January 24, 2012. The company provides engineering solutions for designing, developing, fabricating, and installing industrial machinery, including Dry Mix Mortar Plants, Ready-Mix Concrete support equipment, high-capacity silos, crushers, and customized projects. It serves industries such as cement, concrete, crushing, construction, and building materials
Object of the Issue
- Repayment and/or pre-payment, in full or part, of borrowing availed by the company
- To meet working capital requirements
- General corporate purposes
Readymix Construction - PROMOTERS
| Name |
|---|
| Anand Suresh Watve |
| Atul Jagannath Kulkarni |
| Prashant Balasaheb Kanikdale |
| Shubhangi Rohit Deo |
Readymix Construction Lead Manager of the Issue
HEM Securities Limited
ib@hemsecurities.com
Readymix Construction Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Readymix Construction Strengths
Diversified product portfolio
The company offers a diverse product portfolio, including plant & machinery and related equipment for industries like cement, concrete, crushing, construction, and building materials, serving a broad customer base across multiple Indian states
Caters to a wide range of industries
The company offers a diverse product range for industries like cement, concrete, crushing, and construction, supported by a fabrication unit for customizations. Revenue diversification across multiple verticals helps mitigate industry concentration risks
Dedicated after-sales network
The company has a dedicated after-sales network of 25 employees, including service technicians and engineers, providing customer support, onsite training, installation, software assistance, spare part replacements, and annual maintenance services through multiple channels
Readymix Construction Risks
Dependent on few suppliers
The company relies on a few key suppliers within a limited geographical area for raw materials. Any delays, interruptions, or reductions in supply could negatively impact the business, operations, cash flows, and financial condition
Quality risks
The company is subject to stringent quality requirements, customer inspections, and audits. Failure to meet these standards could result in the cancellation of current and future orders, damaging the company's reputation, business, operations, and future prospects
Capital intensive
The company requires substantial working capital for purchasing equipment, stores, spares, and mobilizing resources for fabrication and installation activities. Any change in assumptions could affect these working capital requirements, impacting cash flow until payments are received from customers
IPO FAQs
The promoters of the company are Anand Suresh Watve, Atul Jagannath Kulkarni, Prashant Balasaheb Kanikdale and Shubhangi Rohit Deo.
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 121.0 - 123.0.
The IPO application opens on Feb 06, 2025 and closes on Feb 10, 2025.
The minimum lot size for the IPO is 1000. The maximum lot size for the IPO is 1000.
For all category investors, the minimum application amount for this IPO is Rs. 121,000.0, the maximum value for this IPO is Rs 123,000.0.
This IPO will be allotted on Feb 11, 2025.
The refund will be credited to your account on Feb 12, 2025.
The allotted shares will be credited to your demat on Feb 12, 2025.
Readymix Construction Machinery Ltd.’s shares listed on the stock exchanges on Feb 13, 2025.