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Rhetan TMT IPO is a fixed price issue of Rs 56.00 crores. The issue is entirely a fresh issue of 80 lakh shares.
Rhetan TMT IPO bidding started from August 22, 2022 and ended on August 25, 2022. The allotment for Rhetan TMT IPO was finalized on Tuesday, August 30, 2022. The shares got listed on BSE SME on September 5, 2022.
Rhetan TMT IPO price is ₹70 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹140,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹280,000.
Aryaman Financial Services Limited is the book running lead manager of the Rhetan TMT IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Rhetan TMT IPO RHP for detailed information.
| IPO Date | August 22, 2022 to August 25, 2022 |
| Listing Date | September 5, 2022 |
| Face Value | ₹10 per share |
| Price | ₹70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 8,000,000 shares (aggregating up to ₹56.00 Cr) |
| Fresh Issue | 8,000,000 shares (aggregating up to ₹56.00 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 13,250,000 |
| Share holding post issue | 21,250,000 |
| Market Maker portion | 416,000 shares |
Rhetan TMT IPO offers 8,000,000 shares. 3,792,000 (47.40%) to NII, 3,792,000 (47.40%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 416,000 (5.20%) |
| Other Shares Offered | 3,792,000 (47.40%) |
| Retail Shares Offered | 3,792,000 (47.40%) |
| Total Shares Offered | 8,000,000 (100%) |
Rhetan TMT IPO opens on August 22, 2022, and closes on August 25, 2022.
| IPO Open Date | Monday, August 22, 2022 |
| IPO Close Date | Thursday, August 25, 2022 |
| Basis of Allotment | Tuesday, August 30, 2022 |
| Initiation of Refunds | Thursday, September 1, 2022 |
| Credit of Shares to Demat | Friday, September 2, 2022 |
| Listing Date | Monday, September 5, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 25, 2022 |
Investors can bid for a minimum of 2000 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 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4,000 | ₹280,000 |
| Lot Size Calculator | |||
Ashoka Metcast Limited and Shalin Shah are the company promoters.
| Share Holding Pre Issue | 99.62% |
| Share Holding Post Issue | 62.12% |
Incorporated in 1984, Rhetan TMT Limited manufactures TMT Bars and Round Bars which are primarily used in the construction industry. The company's plant is located in Gujarat and is spread over 15,000 sq. yards. The company's products have been used in the construction of dams, bridges, residential and commercial towers and major infrastructure projects in Gujarat.
Competitive Strengths :
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-20 | 3046.86 | 2008.26 | -58.04 | 30.21 | -311.65 |
| 31-Mar-21 | 3980.65 | 5213.01 | 13.44 | 783.65 | -298.21 |
| 31-Mar-22 | 5900.06 | 6703.45 | 234.57 | 2313.21 | 1046.35 |
| Amount in ₹ Lakhs | |||||
The market capitalization of Rhetan TMT IPO is Rs 148.75 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 63.64 |
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects:
1. Funding capital expenditure for expansion and modernization at 325, Karannagar, Kadi-Kalol Road, Taluka Kadi, Dist. Mehsana, Gujarat - 382715
2. Funding Working capital requirements
3. General Corporate Purpose
[Dilip Davda] Though the company’s top line shows growth, the sudden boost in margins for FY22 raises eyebrows. The segment is highly competitive and fragmented. Two listed group companies have not fared up to the mark. The issue is priced aggressively and hence there is no harm in giving it a miss. Read detail review...
The Rhetan TMT IPO is subscribed 1.47 times on August 25, 2022 5:41:00 PM. The public issue subscribed 0.76 times in the retail category, times in the QIB category, and 2.18 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 2.18 |
| Retail | 0.76 |
| Total | 1.47 |
| Listing Date | September 5, 2022 |
| BSE Script Code | 543590 |
| NSE Symbol | |
| ISIN | INE0KKN01011 |
| Final Issue Price | ₹70 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹70.00 |
| ₹70.00 |
| ₹66.50 |
| ₹72.00 |
| ₹66.50 |
Rhetan TMT Limited
7th Floor, Ashoka Chambers,
Rasala Marg, Mithakhali,
Ahmedabad- 380006
Phone: 9499850261
Email: rhetantmt@gmail.com
Website: http://www.rhetan.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Rhetan TMT IPO is a SME IPO of 8,000,000 equity shares of the face value of ₹10 aggregating up to ₹56.00 Crores. The issue is priced at ₹70 per share. The minimum order quantity is 2000 Shares.
The IPO opens on August 22, 2022, and closes on August 25, 2022.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Rhetan TMT IPO using UPI as a payment gateway. Zerodha customers can apply in Rhetan TMT IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Rhetan TMT IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Rhetan TMT IPO opens on August 22, 2022 and closes on August 25, 2022.
Rhetan TMT IPO lot size is 2000 Shares, and the minimum amount required is ₹140,000.
You can apply in Rhetan TMT 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 Rhetan TMT IPO will be done on Tuesday, August 30, 2022, and the allotted shares will be credited to your demat account by Friday, September 2, 2022. Check the Rhetan TMT IPO allotment status.
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