Ramdevbaba Solvent is gearing up for its initial public offering (IPO), with the subscription set to open on April 15th and close on April 18th. The IPO offers a lot size consisting of 1,600 shares and a price band ranging from ₹80 to ₹85 per share, each with a face value of ₹10.
Company Profile:
Ramdevbaba Solvent specializes in the manufacturing, distribution, marketing, and sale of refined rice bran oil to prominent fast-moving consumer goods (FMCG) firms such as Empire Spices and Foods Ltd, Marico Limited, and Mother Dairy Fruit & Vegetable Private Limited. The company’s range of rice bran oil is marketed under the exclusive brand names “Tulsi” and “Sehat” through its network of thirty-eight (38) distributors.
IPO Allocation Details:
The equity shares allocation for the Ramdevbaba Solvent IPO is as follows:
– Up to 16,80,000 equity shares for the QIB Anchor portion
– Up to 11,20,000 equity shares for Net Qualified Institutional Buyers (QIB)
– Up to 8,40,000 equity shares for Non-Institutional Investors (NII)
– Up to 19,60,000 equity shares for Retail Individual Investors (RII)
The IPO is valued at approximately ₹50.27 crore and comprises a fresh issue of 59,13,600 equity shares, each with a face value of ₹10. Notably, there is no offer-for-sale component in this issue.
Company Objectives:
The net proceeds from the IPO will serve multiple purposes for Ramdevbaba Solvent, including:
– Financing the establishment of a new manufacturing facility
– Full or partial repayment of outstanding debt
– Funding the company’s working capital requirements
– General corporate purposes
Registrar of the Issue:
Choice Capital Advisors Private Ltd is the book running lead manager for the IPO, while Bigshare Services Private Limited has been appointed as the registrar.
Investors and stakeholders are eagerly awaiting the opening of the Ramdevbaba Solvent IPO on April 15th, with the price band offering a range of ₹80 to ₹85 per share. This IPO presents an opportunity for investors to participate in the growth and expansion plans of a company deeply rooted in the FMCG sector.
