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MD Inducto Cast IPO is a fixed price issue of Rs 17.24 crores.
MD Inducto Cast IPO bidding started from June 30, 2015 and ended on July 2, 2015. The shares got listed on BSE SME on July 16, 2015.
MD Inducto Cast IPO price is ₹27 per share. The minimum lot size for an application is 4000 Shares. The minimum amount of investment required by retail investors is ₹108,000.
Pantomath Capital Advisors Pvt Ltd is the book running lead manager of the MD Inducto Cast IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to MD Inducto Cast IPO RHP for detailed information.
| IPO Date | June 30, 2015 to July 2, 2015 |
| Listing Date | July 16, 2015 |
| Face Value | ₹10 per share |
| Price | ₹27 per share |
| Lot Size | 4000 Shares |
| Total Issue Size | 6,384,000 shares (aggregating up to ₹17.24 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 17,703,704 |
| Share holding post issue | 24,087,704 |
Investors can bid for a minimum of 4000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹108,000 |
| Retail (Max) | 1 | 4000 | ₹108,000 |
| Lot Size Calculator | |||
The promoters of the company are:
1. Nikhil Gupta
2. Sahil Gupta
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 73.5% |
Incorporated in 2010, M D Inducto Cast Ltd is engaged in manufacturing of superior quality TMT bars and billets that are sold under the brand name Rudra TMX.
M D Inducto Cast Ltd (MDIC) is the flagship company of M D Group, engaged in various businesses like Ship Recycling, Oxygen Plant, Induction Furnace, Re-rolling mill, producing more than 1.5 Lakh MT per annum of steel, with a group turnover of around Rs. 600 crore per annum. At present they have an installed production capacity of 1,20,000 MT p.a. both for billets and TMT bars. Famous actor and politician Paresh Rawal is the brand ambassador of MDIC's products.
In addition to manufacturing their own products, they have also recently introduced franchise model of business in their operations. At present, they have contracted with 5 parties who manufacture and sell goods under brand name "Rudra TMX". Company has around 25 direct dealers and 5 distributors who cater to around 450 dealers, undertaking sales and distribution of products. They also serve to some few large industrial houses directly.
| KPI | Values |
|---|---|
| RoNW | 38.53% |
The objects of the Issue are:
1. Working capital requirements
2. Issue expenses
[Dilip Davda]
On performance front the company has posted turnover/net profit of Rs. 43.67 crore /Rs. 0.83 crore (FY 2013), Rs. 318.04 crore/Rs. 4.32 crore (FY 2014) and Rs. 333.32 crore/Rs. 5.74 crore (FY 2015). If we attribute the FY 2015 earnings for fully diluted equity of Rs. 24.09 crore then the asking price of the offer is at a P/E of 11 plus and P/BV at 2.5 plus. Thus the offer appears to be reasonably priced compared to peers industry composite P/E of 34 plus as detailed in prospectus.
On merchant banker’s front, this is the 10th IPO from its stable and its past seven mandates have given positive rewards to investors. The eighth IPO of Ambition that is closing on 30.06.15 and Jiya Eco-Products still on.
DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here. As SME issues have entry barriers and low preference from broking community, any reader taking decisions based on any information published here does so entirely at own risk. Author has no plans to invest in this offer.
Read detail review...
| Listing Date | July 16, 2015 |
| BSE Script Code | 539226 |
| NSE Symbol | |
| ISIN | INE027T01015 |
| Final Issue Price | ₹27 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹27.00 |
| ₹28.10 |
| ₹27.85 |
| ₹29.50 |
| ₹29.50 |
M D Inducto Cast Ltd
M.D. House, Plot no. 2715/A,
Near Central Salt, Waghawadi Road,
Bhavnagar - 364001. Gujarat
Phone: +91 278 2570133
Email: info@mdgroup.in
Website: http://www.rudratxt.com
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: mdgroup.ipo@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
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MD Inducto Cast IPO is a SME IPO of 6,384,000 equity shares of the face value of ₹10 aggregating up to ₹17.24 Crores. The issue is priced at ₹27 per share. The minimum order quantity is 4000 Shares.
The IPO opens on June 30, 2015, and closes on July 2, 2015.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
The MD Inducto Cast IPO opens on June 30, 2015 and closes on July 2, 2015.
MD Inducto Cast IPO lot size is 4000 Shares, and the minimum amount required is ₹108,000.
You can apply in MD Inducto Cast IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for MD Inducto Cast IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the MD Inducto Cast IPO allotment status.
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RHP
I have applied MD Inducto Cast through Online SBI - ASBA with my ICIC Demat account details. I was allocated and credited into my icicidirect. I inquired with ICICI customer care and they told me that this share is not listed on BSE exchange and cannot trade. I am able to see this share listing in BSE exchange on July 16th. Could anyone help me out how to trade this BSE SME share in ICICI direct.
Regards,
Rakesh