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Rite Zone Chemcon IPO is a fixed price issue of Rs 8.96 crores. The issue is entirely a fresh issue of 11.95 lakh shares.
Rite Zone Chemcon IPO bidding started from October 31, 2022 and ended on November 2, 2022. The allotment for Rite Zone Chemcon IPO was finalized on Monday, November 7, 2022. The shares got listed on NSE SME on November 11, 2022.
Rite Zone Chemcon IPO price is ₹75 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹120,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹240,000.
Expert Global Consultants Private Limited is the book running lead manager of the Rite Zone Chemcon IPO, while Skyline Financial Services Private Ltd is the registrar for the issue.
Refer to Rite Zone Chemcon IPO RHP for detailed information.
| IPO Date | October 31, 2022 to November 2, 2022 |
| Listing Date | November 11, 2022 |
| Face Value | ₹10 per share |
| Price | ₹75 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 1,195,200 shares (aggregating up to ₹8.96 Cr) |
| Fresh Issue | 1,195,200 shares (aggregating up to ₹8.96 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 3,035,070 |
| Share holding post issue | 4,230,270 |
| Market Maker portion | 60 shares |
Rite Zone Chemcon IPO offers 1,134,460 shares. 566,400 (49.93%) to NII, 568,000 (50.07%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 60 (0.01%) |
| Other Shares Offered | 566,400 (49.93%) |
| Retail Shares Offered | 568,000 (50.07%) |
| Total Shares Offered | 1,134,460 (100%) |
Rite Zone Chemcon IPO opens on October 31, 2022, and closes on November 2, 2022.
| IPO Open Date | Monday, October 31, 2022 |
| IPO Close Date | Wednesday, November 2, 2022 |
| Basis of Allotment | Monday, November 7, 2022 |
| Initiation of Refunds | Wednesday, November 9, 2022 |
| Credit of Shares to Demat | Thursday, November 10, 2022 |
| Listing Date | Friday, November 11, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 2, 2022 |
Investors can bid for a minimum of 1600 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 | 1600 | ₹120,000 |
| Retail (Max) | 1 | 1600 | ₹120,000 |
| HNI (Min) | 2 | 3,200 | ₹240,000 |
| Lot Size Calculator | |||
Mr. Bhavesh Babulal Bhandari and Mrs. Arti Bhavesh Bhandari are the company promoters.
| Share Holding Pre Issue | 58.39% |
| Share Holding Post Issue |
Incorporation in 2015, Rite Zone Chemcon India Limited deals in a range of construction chemicals and concrete products. The company offers complete construction solutions by supplying a complete range of various chemical products related to civil construction, infrastructure, building & structure including pre-construction or post construction as well as supplying all types of concrete required for construction and infrastructure developments.
The company's products include Concrete Admixture, Water Proofing Systems, Concrete Lubricators, Engineering Grouts, Industrial Flooring, Concrete Repairs, Curing Compound & Mould Release Agents, Surface Treatment, Tiling & Block Products.
Rite Zone Chemcon India Limited outsource the chemical products production to a third-party manufacturer. The company has also tied up with concrete manufacturers in Maharashtra for concrete production.
Strengths:
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 666.83 | 574.77 | 15.89 | 62.53 | 61.53 | 258.12 |
| 31-Mar-21 | 677.87 | 384.21 | 0.69 | 63.26 | 62.26 | 329.3 |
| 31-Mar-22 | 1039.27 | 565.73 | 26.21 | 502.36 | 198.86 | 106.24 |
| 30-Sep-22 | 1240.92 | 1036.34 | 17.48 | 519.85 | 216.34 | 97.36 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Rite Zone Chemcon IPO is Rs 31.73 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 90.36 |
The company intend to utilize the proceeds of the Issue to meet the following objects:
1. To part finance the Working Capital Requirements.
2. General Corporate Purposes.
3. To meet Issue Expenses.
[Dilip Davda] RZCIL is in a highly competitive and fragmented segment. It has priced the IPO exorbitantly even on the basis of its super earnings. A small equity base post-IPO indicates s longer gestation period for migration to the mainboard. There is no harm in skipping this pricy issue. Read detail review...
The Rite Zone Chemcon IPO is subscribed 4.73 times on November 2, 2022 7:00:00 PM. The public issue subscribed 7.10 times in the retail category, times in the QIB category, and 2.36 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 2.36 |
| Retail | 7.10 |
| Total | 4.73 |
| Listing Date | November 11, 2022 |
| BSE Script Code | |
| NSE Symbol | RITEZONE |
| ISIN | INE0MRA01019 |
| Final Issue Price | ₹75 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹75.00 |
| ₹82.85 |
| ₹78.75 |
| ₹86.95 |
| ₹86.95 |
Rite Zone Chemcon India Ltd
Row House 11,
Beverly Park, Row House CHS Ltd
Mira Road Thane- 401107
Phone: +91 22 6884 9680
Email: cs@ritezone.in
Website: http://www.ritezone.in/
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
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Rite Zone Chemcon IPO is a SME IPO of 1,195,200 equity shares of the face value of ₹10 aggregating up to ₹8.96 Crores. The issue is priced at ₹75 per share. The minimum order quantity is 1600 Shares.
The IPO opens on October 31, 2022, and closes on November 2, 2022.
Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Rite Zone Chemcon IPO using UPI as a payment gateway. Zerodha customers can apply in Rite Zone Chemcon IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Rite Zone Chemcon IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Rite Zone Chemcon IPO opens on October 31, 2022 and closes on November 2, 2022.
Rite Zone Chemcon IPO lot size is 1600 Shares, and the minimum amount required is ₹120,000.
You can apply in Rite Zone Chemcon 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 Rite Zone Chemcon IPO will be done on Monday, November 7, 2022, and the allotted shares will be credited to your demat account by Thursday, November 10, 2022. Check the Rite Zone Chemcon IPO allotment status.
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