Ramdevbaba Solvent IPO: Ramdevbaba Solvent Ltd's IPO, which closed on April 18, received good response from investors as the Rs 50.27-crore SME IPO received 126.21 times subscription and bids for 49.47. 42,400 shares as against 39,20,000 shares received offer. The share allotment will be completed on the evening of April 19, Friday and the status can be checked on the registrar Bigshare Services portal.
Ramdevbaba Solvent's IPO, which opened for public subscription on April 15, was priced at Rs 80-85 per share.
The non-institutional investor category was subscribed 314.46 times while the retail investor section (RIIs) attracted 79.96 times subscriptions. The QIB category received 65.95x subscriptions.
As the share allotment of Ramdevbaba Solvent IPO will be completed on April 19, the shares will be listed on NSE SME on April 23.
Ramdevbaba Solvent IPO: How to check allotment status
You can visit the direct Link Intime portal – https://www.bigshareonline.com/ipo_Allotment.html – and check the IPO allotment status of Ramdevbaba Solvent by using PAN number, application number or DP client ID indicate.
Ramdevbaba Solvent IPO GMP today
According to market observers, unlisted shares of Ramdevbaba Solvent Ltd are trading Rs 20 higher than their issue price in the gray market. The gray market premium or GMP of Rs 20 means that the gray market expects a listing profit of 23.53 percent from the public issue. The GMP is based on market sentiment and is constantly changing.
“Gray market premium” indicates investors’ willingness to pay more than the issue price.
Ramdevbaba Solvent IPO details
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Ramdevbaba Solvent's IPO, which is a book-built issue worth Rs 50.27 crore, is a pure fresh issue of 59.14 lakh shares.
The price range for the IPO is Rs 80 to Rs 85 per share. The minimum lot size for registration is 1,600 shares. The minimum investment amount required for retail investors is Rs 1,36,000. The minimum investment size for HNI is 2 lots (3,200 shares) worth Rs 2,72,000.
Choice Capital Advisors Pvt Ltd is the underwriter of Ramdevbaba Solvent IPO while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Ramdevbaba Solvent IPO is Choice Equity Broking.
Established in 2008, Ramdevbaba Solvent Limited produces and sells physically refined rice bran oil. The Company is engaged in manufacturing, distributing, marketing and selling rice bran oil to FMCG companies such as Mother Dairy Fruit & Vegetable Private Limited, Marico Limited and Empire Spices and Foods Ltd. The company also manufactures, markets and sells rice bran oil under its own brands 'Tulsi' and 'Sehat' through 38 distributors, who in turn sell to various retailers in Maharashtra.
Sales increased by 20.35 percent and profit after tax (PAT) increased by 97.25 percent in the 2022/23 financial year.
Mohammad Haris
Haris is Deputy News Editor (Business) at news18.com. He writes on various topics
first published: April 19, 2024, 12:16 IST