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
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
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
- 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.
- 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:
- Establish a new manufacturing facility in Chandrapur, Maharashtra with an investment of ₹1,881.40 lakh to expand operations.
- Repay existing debts partially or fully, allocating ₹841.96 lakh to improve financial health.
- Allocate ₹1,200.00 lakh to enhance the working capital, supporting day-to-day operational needs.
- Reserve funds for general corporate purposes.
Peer Details
The following are the listed peers of Ramdevbaba Solvent:
- BCL Industries Ltd
- Gokul Refoils & Solvent Ltd
- Gujarat Ambuja Exports Ltd
- Kriti Nutrients Ltd
- 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:
- Log in to the Angel One app.
- Go to the individual order details page of the IPO that you had applied for.
- 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
Strengths
3-
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.
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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.
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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.
Risks
3-
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.
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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.
-
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
Ramdevbaba Solvent IPO is a book-built IPO. The IPO will be open from April 15, 2024 to April 18, 2024.
The Basis of Allotment will happen on Monday, April 22 2024.
The IPO subscription window will open on April 15, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,600 shares.
The listing date for Ramdevbaba Solvent is Friday, April 23, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
