IPO Details

Bidding Dates

15 Apr '24 - 18 Apr '24

Minimum Investment

₹ 1,36,000 / 1 Lot ( 1600 Shares )

Price Range

₹80 - ₹85

Maximum Investment

₹ 1,36,000 / 1 Lot ( 1600 Shares )

Retail Discount

To be announced

Issue Size

₹50.27 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Retail Individual Investors  |   Non-institutional Investor  |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Apr 15, 2024

Closing Date

Apr 18, 2024

Basis of Allotment

Apr 19, 2024

Initiation of Refunds

Apr 22, 2024

Credit of Shares to Demat

Apr 22, 2024

Listing Date

Apr 23, 2024

Cut-off time for UPI mandate confirmation

Apr 18, 2024

Ramdevbaba Solvent IPO Subscription Details


Day 1Apr 15, 2024

0.00x 8.18x 5.80x 4.68x

Day 2Apr 16, 2024

0.02 14.69x 13.74x 10.06x

Day 3Apr 18, 2024

0.32x 45.56x 29.74x 24.73x

Ramdevbaba Solvent IPO Subscription Status Live

Investor Category Subscription (Times)
Qualified Institutional Buyers 0.32
Non-Institutional Buyers 45.56
Retail Investors 29.74
Total 24.73

About Ramdevbaba Solvent Ltd

Ramdevbaba Solvent Limited operates in the production, distribution, marketing, and sales of Physically Refined Rice Bran Oil, known as Rice Bran Oil. This company supplies the oil to large FMCG enterprises including Mother Dairy Fruit & Vegetable Private Limited, Marico Limited, and Empire Spices and Foods Ltd.

Additionally, it markets and retails Rice Bran Oil under its brand names "Tulsi" and "Sehat" via thirty-eight distributors. These distributors then sell to retailers throughout Maharashtra. Rice Bran Oil is extracted from the hard outer brown layer of rice known as bran.

Noted for its high smoke point of 232°C and mild taste, it is suitable for high-temperature cooking methods such as stir-frying and deep-frying. The oil has a balanced content of Polyunsaturated Fats (PUFA) and Monounsaturated Fats (MUFA), typically in a near-equal ratio, and is a good source of Vitamin E, an antioxidant.

The company also produces De-oiled Rice Bran (DORB), a by-product from Rice Bran Oil extraction. This by-product is marketed as cattle, poultry, and fish feed in several Indian states including Maharashtra, Goa, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Karnataka, Kerala, and Tamil Nadu. Other by-products like fatty acids, lecithin, gums, spent earth, and wax are sold on the open market.

Industry Outlook

  1. The Indian food processing market is expected to expand significantly, reaching US$ 547.3 trillion by 2028 with a robust annual growth rate of 9.5% from 2023-2028.
  2. Oilseed production in India for 2021-22 was approximately 376.97 lakh metric tons, with edible oil production estimated at 115.71 lakh metric tons from primary and secondary sources.

Ramdevbaba Solvent Ltd IPO Details

Ramdevbaba Solvent Ltd IPO Dates

Ramdevbaba Solvent IPO is open from April 15, 2024, to April 18, 2024. The IPO will be listed on NSE Emerge.

Ramdevbaba Solvent Ltd IPO Price Band

Ramdevbaba Solvent is a book-built issue. The price band is set at ₹80 to ₹85 per share.

Ramdevbaba Solvent Ltd IPO Lot Size

The lot size for Ramdevbaba Solvent Limited’s IPO is 1,600 shares with a minimum investment of ₹1,36,000.

Ramdevbaba Solvent Ltd IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Establish a new manufacturing facility in Chandrapur, Maharashtra with an investment of ₹1,881.40 lakh to expand operations.
  2. Repay existing debts partially or fully, allocating ₹841.96 lakh to improve financial health.
  3. Allocate ₹1,200.00 lakh to enhance the working capital, supporting day-to-day operational needs.
  4. Reserve funds for general corporate purposes.

Peer Details

The following are the listed peers of Ramdevbaba Solvent:

  1. BCL Industries Ltd
  2. Gokul Refoils & Solvent Ltd
  3. Gujarat Ambuja Exports Ltd
  4. Kriti Nutrients Ltd
  5. Shri Venkatesh Refineries Ltd

How To Check the Allotment Status of the Ramdevbaba Solvent Ltd IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the individual order details page of the IPO that you had applied for.
  3. Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Ramdevbaba Solvent Ltd

Registered office: Bhaiya Building, Anaj Bazar, Itwari, Nagpur 440 002, Maharashtra, India

Phone: +91 0712-7968 189

E-mail: cs@rbsl.co.in

IPO Financials

Particulars 9-Month period Ending on December 31, 2023 Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Revenue from Operations (in ₹ lakh) 46,359.01 69,775.26 58,287.73 42,392.50
Profit After Tax (PAT) (in ₹ lakh) 828.90 1300.15 659.15 617.06
Cash & Cash Equivalents (in ₹ lakh) 22.41 35.64 20.08 80.28
Net Worth (in ₹ lakh) 6,857.15 4,783.25 3,483.10 2,823.95
Debt to Equity Ratio(x) 1.46 2.07 1.86 1.58
Return on Equity (%) 1.79% 1.86% 1.13% 1.46%
Return on Net Worth (RoCE) (%) 14.24% 31.46% 20.90% 23.97%
Earning Per Share (EPS)-in absolute ₹ 5.60 9.45 4.79 4.48

Know before investing


  1. Strategic location near Nagpur, Maharashtra, facilitates the distribution of Rice Bran Oil and DORB across central and southern India, enhancing supply chain efficiency and market reach.

  2. Proximity to rice mills in Vidarbha, a major rice-producing area, ensures a steady and cost-effective supply of rice bran, optimizing production costs and improving competitive pricing.

  3. Integrated operations with seamless production processes at the facility enable economies of scale, improving time and cost efficiency, quality control, and ultimately boosting profit margins.


  1. Non-compliance with loan covenants and debt servicing obligations could harm Ramdevbaba Solvent Limited's business, destabilizing financials and lowering credit ratings, with secured borrowings at ₹8,621.12 lakhs.

  2. Product demand vulnerability in Maharashtra, Andhra Pradesh, and Uttar Pradesh, with over 50% revenue dependency, could be adversely impacted by external economic and competitive pressures.

  3. Dependence on specific suppliers in Maharashtra, Madhya Pradesh, Chhattisgarh, and Gujarat for raw materials poses risks of supply disruptions, potentially hindering production and affecting customer relations.

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Ramdevbaba Solvent Limited IPO FAQs

What is Ramdevbaba Solvent Ltd's IPO?

Ramdevbaba Solvent IPO is a book-built IPO. The IPO will be open from April 15, 2024 to April 18, 2024.

When will Ramdevbaba Solvent Ltd's IPO be allotted?

The Basis of Allotment will happen on Monday, April 22 2024.

When will Ramdevbaba Solvent Ltd's IPO open for subscription?

The IPO subscription window will open on April 15, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,600 shares.

When will Ramdevbaba Solvent Ltd list on exchanges?

The listing date for Ramdevbaba Solvent is Friday, April 23, 2024.

What would be the listing gains on the Ramdevbaba Solvent Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Ramdevbaba Solvent Ltd IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Ramdevbaba Solvent Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Ramdevbaba Solvent Ltd using one PAN?

You can submit only one application using your PAN card.