The Rappid Valves (India) IPO is a book-built issue, raising Rs 30.41 crores through a fresh issue of 13.7 lakh shares. The IPO will be open for subscription from September 23, 2024, to September 25, 2024. The allotment is expected to be finalized on September 26, 2024, with the listing on NSE SME likely on September 30, 2024.
The IPO price band is set between ₹210 and ₹222 per share, with a minimum lot size of 600 shares. Retail investors need to invest at least ₹133,200, while HNIs require 2 lots (1,200 shares), amounting to ₹266,400.
Shreni Shares Limited is the lead manager, Link Intime India Private Ltd is the registrar, and Rikhav Securities is the market maker for this IPO.
Below are the details of Rappid Valves (India) Limited IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Rappid Valves IPO Details
| IPO Date | September 23, 2024 to September 25, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹210 to ₹222 per share |
| Lot Size | 600 Shares |
| Total Issue Size | 1,369,800 shares (aggregating up to ₹30.41 Cr) |
| Fresh Issue | 1,369,800 shares (aggregating up to ₹30.41 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 3,822,184 |
| Share holding post issue | 5,191,984 |
| Market Maker portion | 69,600 shares |
Rappid Valves IPO Timeline
| IPO Open Date | Monday, September 23, 2024 |
| IPO Close Date | Wednesday, September 25, 2024 |
| Basis of Allotment | Thursday, September 26, 2024 |
| Initiation of Refunds | Friday, September 27, 2024 |
| Credit of Shares to Demat | Friday, September 27, 2024 |
| Listing Date | Monday, September 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2024 |
Rappid Valves IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹133,200 |
| Retail (Max) | 1 | 600 | ₹133,200 |
| HNI (Min) | 2 | 1,200 | ₹266,400 |
Rappid Valves IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net Issue |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
Rappid Valves IPO Anchor Investor
| Bid Date | September 20, 2024 |
| Shares Offered | 389,400 |
| Anchor Portion Size (In Cr.) | 8.64 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 26, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 25, 2024 |
Rappid Valves IPO Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 2,994.41 | 1,656.75 | 1,217.6 | |||||||||||||||||||||||||||
| Revenue | 3,660.06 | 1,643.42 | 1,215.24 | |||||||||||||||||||||||||||
| Profit After Tax | 413.27 | 45.56 | 28.98 | |||||||||||||||||||||||||||
| Net Worth | 1,221.98 | 312.21 | -24.64 | |||||||||||||||||||||||||||
| Reserves and Surplus | 371.98 | -37.79 | -79.64 | |||||||||||||||||||||||||||
| Total Borrowing | 1,098.3 | 992.65 | 977.57 | |||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||
Rappid Valves IPO Review
Rappid Valves (India) Ltd. (RVIL), an engineering company known for its “Rappid Valves” brand, specializes in manufacturing a wide range of valve solutions, including Ball, Gate, and Butterfly valves, among others. Its IPO will raise Rs 30.41 crore, with a price band of Rs 210-222 per share, opening on September 23, 2024, and closing on September 25, 2024. The company aims to utilize proceeds for capex, loan repayment, and growth initiatives.
Financially, RVIL saw a significant jump in profits in FY24, raising concerns about sustainability in a competitive market. While its strong pre-IPO performance is notable, the IPO appears fully priced with a P/E of 27.89. Investors should cautiously evaluate long-term prospects before committing, especially given the highly competitive industry and the company’s lack of dividend history.
As always, it’s recommended to consult a financial advisor for personalized guidance.