RHETAN TMT LIMITED IPO: Details, Review, Allotment date and Subscription Status

rhetan tmt limited ipo Review, allotment date, subscription and grey market premium(gmp)

porated 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 : Well educated and experienced management, Group Synergies, Location of the Manufacturing Unit.

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rhetan tmt limited ipo Review, allotment date, subscription and grey market premium(gmp)

RHETAN TMT LIMITED IPO Details

IPO Size: 8000000 Equity Shares
(aggregating up to ₹56.00 Crore)
Bid Lot: 2000 Equity Shares and in Multiples thereof
Price Band: ₹70.00
Minimum Bid Lot: 1 Lot (2000 Equity Shares)
Minimum Bid Amount (in Rs.): ₹1,40,000.00 at cut-off price.
Maximum Bid Lot: 7584000 Lot (8000 Equity Shares)
Maximum Bid Amount (in Rs.): ₹53,08,80,000.00 at cut-off price.
Name of the Registrar: ARYAMAN FINANCIAL SERVICES LIMITED
Allotment Link: https://www.bseindia.com/investors/appli_check.aspx
Listing on: BSE
Face Value: 10
Retail Quota: Not less than 50% of the Net Issue
NII Quota: Not less than 50% of the Net Issue
Emp Quota: Not less than 0% of the Net Issue
Listing Name: RHETANTMT
Above information source: SEBI official site.

RHETAN TMT LIMITED IPO Review and GMP (Grey market premium) Today and Kostak Price Live

Company Name GMP(grey market Premium) Kostak Price Subject to Sauda
ALL IPO GMP (grey market premium) Today and Kostak Price
Disclaimer: Stock Market investments are subject to market risks, read all scheme related documents carefully before investing. All the information provided on our IPO Portal is for Reaserch purpose only. I do not claim any facts, and figure mentioned here.
Source: SmartInvestment

RHETAN TMT LIMITED IPO Review

  • Issue Opens on 22nd August & Closes on 25th August 2022
  • Object of the issue : 1. Funding capital expenditure for expansion and modernization at Kadi-Kalol Road, Gujarat, Funding Working capital requirements, General Corporate Purpose
  • Issue Size : 80,00,000 Equity Share (Rs. 56.00 Cr.)
  • Face Value Rs. 10
  • Offer price Rs. 70.00
  • Minumum Lot Size : 2000 Share
  • Listing on : BSE SME Platform
  • BRLM : Aryaman Financial Services limited
  • Registrar : Bigshare Services Pvt Ltd
  • Company Management : Ashoka Metcast Limited and Shalin Shah
  • Market Cap : Rs. 148.75 Cr.
  • Pre Issue Promoter Holding : 99.62%
  • Post Issue Promoter holding : 62.12%
  • Issue constitutes 37.65% of the post issue paid up capital
  • Average of last 3 Yrs. EPS Rs. 0.81 & RONW : -26.38%
  • Pre IPO Eq. Capital Rs. : 13.25 Cr.
  • Post IPO Eq. Capital Rs.21.25Cr.
  • Pre IPO : P/BV Ratio 4.01 (NAV : 17.46)
  • Post Issue : P/BV Ratio : 1.88 (NAV : 37.24)
  • Post IPO asking P/E on fully diluted equity : 65.40
  • BRLM’s Performance : This is 13th Issue from BRLM in last 3 years. In last 10 Listing : 10 Issued opened with premium
  • OTHER SIDE OF THE COIN

  • The average cost of acquisition of equity shares to the promoter is Rs. 12.03 and Rs. 70 per share and offer price is Rs. 70 per share.
  • Apart from initial equity capital at par company has issued further equity at a price of Rs. 70 per share in January 2022 and March 2022
  • The steel industry is highly cyclical and volatile. This segment is under pressure on account of china concern.
  • Companies do not own registered office.
  • Four group companies have incurred losses during the last three fiscals.
  • Its business is high volume & low margin business.
  • Trading of its three group company's lesa Industries, Gujarat Natural resources and Ashnisha Industries suspended for a brief period.
  • Group Company Ashoka metant failed to complete objects intimae.
  • Company promoters of Gujarat natural resources (GNRL) and its director have faced action from SEBI.
  • Group Company Ashoka metat who SME IPO come in 2018 at Rs. 20 is trading at Rs. 8 i.e. 60% minus after 4 years.
  • Group companies GNRL is in Group x and CMP is Rs. 17, Low price is Rs. 9.20 and another Ashnisha Industries is in Group XT and CMP is Rs 1.81 and low price is Rs. 0.60 Recoemdnation : It has posted consisten
  • Recoemdnation : It has posted consistent growth in Top lines for last three fiscals incurred loss In FY20. Sudden jump in bottom line of FY22 is surprising, doubtful and raises eyebrows. A group listed company has a very poor performance. ON valuation front considering P/BV of 4.01 & PE of 65.40. The issue is priced very expensive and investors may give clear avoid to this issue

    RHETAN TMT LIMITED IPO Timetable

    IPO Open: 22 Aug 2022
    IPO Close: 25 Aug 2022
    Modification Period: Post Issue Modification on 26 Aug 2022 from 10.00 am to 11.00 am
    Cut-off time for UPI Mandate Confirmation: 26 Aug 2022 from 10.00 am to 11.00 am
    Allotment Date: 26 Aug 2022
    Refunds Date: 30 Aug 2022
    Credit of Shares to Demat Account: 01 Sep 2022
    IPO Listing Date: 02 Sep 2022
    Above information source: SEBI official site.

    Check RHETAN TMT LIMITED BSE & NSE IPO subscription status live start on: 22 Aug 2022

    BSE:
    QIB (in Equity Share) -
    NII (in Equity Share) -
    Retail (in Equity Share) -
    Others (in Equity Share) -
    Total (in Equity Share) -
    Information source: BSE official site.

    RHETAN TMT LIMITED Company issue offer 8000000 Equity Shares (Approximately up to ₹56.00 Crore) IPO was subscribed more than times on the this day of the bidding process. Bids were received for crore equity shares against an offer size of equity stocks as per Bombay stock Exchange (BSE).

    The portion reserved for retail investors was subscribed times, qualified institutional buyers category was subscribed times and non-institutional category received times subscription.

    Price band has been fixed at ₹70.00 per equity share for the initial share-sale.

    Where to check ipo allotment status for RHETAN TMT LIMITED?

    After garnering a massive response from investors, the Initial public offering (IPO) of RHETAN TMT LIMITED is likely to be up for allotment on 26 Aug 2022 day.

    Check IPO Allotment

    There are two official way to check RHETAN TMT LIMITED IPO allotment status,

    1. BSE official site
    2. IPO registrar's website

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