Ramdevbaba Solvent IPO will open for subscription from 15 April 2024. The company aims for an issue size of ₹50.27 Cr through this IPO.
Company Overview
| Full name | Ramdevbaba Solvent Limited |
| Sector | Agriculture |
| Industry | Solvent extraction |
| Company Website | https://www.ramdevbabasol.com/ |
About Company
Ramdevbaba Solvent operates in the manufacturing, distribution, marketing, and sale of Physically Refined Rice Bran Oil to FMCG companies such as Mother Dairy Fruit & Vegetable Private Limited, Marico Limited, and Empire Spices and Foods Ltd. Additionally, the company manufactures, markets, and sells Rice Bran Oil under its brands, ‘Tulsi’ and ‘Sehat,’ through 38 distributors who subsequently supply to various retailers across Maharashtra.
Ramdevbaba Solvent also produces De-oiled Rice Bran (DORB), a by-product obtained during the extraction of Rice Bran Oil, which it sells as cattle feed, poultry feed, and fish feed in the states of Maharashtra, Goa, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Karnataka, Kerala, and Tamil Nadu. Additionally, other by-products such as fatty acid, lecithin, gums, spent earth, and wax are sold in the open market.
The manufacture of Rice Bran Oil primarily comprises two processes: (i) solvent extraction of crude oil from rice bran, with a capacity of 255,000 metric tonnes per annum (MTPA); and (ii) refining the extracted crude rice bran oil, with a capacity of 48,000 MTPA as of December 2023. The company owns and operates two manufacturing facilities, one in Mahadula and one in Bramhapuri near Nagpur, in Maharashtra.
The Objectives of the Issue
- Setting up of new manufacturing facility;
- Repayment in full or in part, of certain outstanding borrowings;
- Funding the working capital requirements of the company; and
- General corporate purposes.
Ramdevbaba Solvent IPO Timetable
| IPO Opening date | 15 April 2024 |
| IPO Closing | 18 April 2024 |
| Basis of Allotment | 19 April 2024 |
| Initiation Refund | 22 April 2024 |
| Credit to Demat Account | 22 April 2024 |
| Listing Date | 23 April 2024 |
Ramdevbaba Solvent IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹50.27 Cr – 5,913,600 shares |
| Fresh Issue | ₹50.27 Cr – 5,913,600 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹80 to ₹85 per share |
| Lot size | 1600 Shares |
| Market Maker portion | 281,600 shares |
| Shareholding pre-issue | 16,211,750 |
| Shareholding post-issue | 22,125,350 |
| Listing Exchange | NSE SME |
Ramdevbaba Solvent IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹136,000 |
| Retail (Max) | 1 | 1600 | ₹136,000 |
| HNI (Min) | 2 | 3,200 | ₹272,000 |
Ramdevbaba Solvent IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,680,000 (28.41%) |
| Market Maker Shares Offered | 281,600 (4.76%) |
| QIB Shares Offered | 1,120,000 (18.94%) |
| NII (HNI) Shares Offered | 872,000 (14.75%) |
| Retail Shares Offered | 1,960,000 (33.14%) |
| Total Shares Offered | 5,913,600 (100%) |
Ramdevbaba Solvent Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | 423.93 | 582.88 | 697.75 | 463.59 |
| Expenses | 418.58 | 576.06 | 687.25 | 454.36 |
| Net income | 6.17 | 6.59 | 13.00 | 8.29 |
Ramdevbaba Solvent Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 4.48 | 4.79 | 9.45 |
| PE ratio | – | – | 8.47 – 8.99 |
| RONW (%) | 23.97 | 20.90 | 31.46 |
| NAV | 20.52 | 25.31 | 34.76 |
| ROCE (%) | 16.50 | 14.07 | 15.26 |
| EBITDA (%) | 3.89 | 3.34 | 3.61 |
| Debt/Equity | 1.58 | 1.86 | 2.07 |
Company Promoters
- Prashant Kisanlal Bhaiya
- Nilesh Suresh Mohata
- Tushar Ramesh Mohata
Promoter Holding
| Pre Issue Share Holding | 81.01% |
| Post Issue Share Holding |
Ramdevbaba Solvent IPO Lead Manager(s)
CHOICE CAPITAL ADVISORS PRIVATE LIMITED
Sunil Patodia Tower, Plot No. 156-158,
J.B. Nagar, Andheri (East), Mumbai, 400 099
Phone: +91 22 6707 9999 / 7919
Email: rbsl.ipo@choiceindia.com
Website: www.choiceindia.com
Ramdevbaba Solvent Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Ramdevbaba Solvent Contact Details
RAMDEVBABA SOLVENT LIMITED
Block No. 205 and 206, Honey Kaushalya Tower,
Telephone Exchange Chowk, Central Avenue Road,
Nagpur 440,008, Maharashtra
Phone: 0712-7968 189
E-mail: cs@rbsl.co.in
Website: www.ramdevbabasol.com
Ramdevbaba Solvent IPO Allotment Status
Ramdevbaba Solvent IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
Ramdevbaba Solvent IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
