Storage Technologies Racks and Rollers IPO will open for subscription from 30 April 2024. The company aims for an issue size of ₹29.95 Cr through this IPO.
Company Overview
| Full name | Storage Technologies Racks and Rollers Limited |
| Sector | Capital Goods |
| Industry | Engineering – Industrial Equipments |
| Company Website | https://racksandrollers.com/ |
About Company
Founded in 2010, Storage Technologies and Automation specializes in storage racking systems. The company, known as Racks and Rollers, offers design, manufacturing, and installation services for metal storage racks, automated warehouses, and other storage solutions. Their solutions cater to various industries, including oil and gas, automotive components and aerospace, food and beverages, cold storage, pharmaceuticals, textiles, retail, FMCG, and more.
As of 1 April 2024, the company’s total order book value amounts to INR 21.36 crore. It has completed more than 2,500 projects and served over 900 customers worldwide. The company operates in more than 30 countries across the globe. As of 31 October 2023, the company employs 166 permanent employees and 94 contractual workers.
The Objectives of the Issue
- To meet Working Capital requirements
- General Corporate Purpose
Storage Technologies Racks and Rollers IPO Timetable
| IPO Opening date | 30 April 2024 |
| IPO Closing | 03 May 2024 |
| Basis of Allotment | 06 May 2024 |
| Initiation Refund | 07 May 2024 |
| Credit to Demat Account | 07 May 2024 |
| Listing Date | 08 May 2024 |
Storage Technologies Racks and Rollers IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹29.95 Cr – 3,840,000 shares |
| Fresh Issue | ₹29.95 Cr – 3,840,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹73 to ₹78 per share |
| Lot size | 1600 Shares |
| Market Maker portion | 200,000 shares |
| Shareholding pre-issue | 9,000,000 |
| Shareholding post-issue | 12,840,000 |
| Listing Exchange | BSE SME |
Storage Technologies Racks and Rollers IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹124,800 |
| Retail (Max) | 1 | 1600 | ₹124,800 |
| HNI (Min) | 2 | 3,200 | ₹249,600 |
Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,089,600 (28.38%) |
| Market Maker Shares Offered | 200,000 (5.21%) |
| QIB Shares Offered | 728,000 (18.96%) |
| NII (HNI) Shares Offered | 547,200 (14.25%) |
| Retail Shares Offered | 1,275,200 (33.21%) |
| Total Shares Offered | 3,840,000 (100%) |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 7M FY 2024 | |
| Revenue | 48.49 | 69.87 | 81.32 | 52.92 |
| Expenses | 46.65 | 69.91 | 80.58 | 48.32 |
| Net income | 1.18 | (0.20) | 0.48 | 3.59 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 3.95 | (0.68) | 1.61 |
| PE ratio | – | – | 45.34 – 48.45 |
| RONW (%) | 8.12 | (3.75) | 20.89 |
| NAV | 56.68 | 18.21 | 19.82 |
| ROCE (%) | 22.09 | 4.02 | 13.76 |
| EBITDA (%) | 6.26 | 3.84 | 5.36 |
Company Promoters
- Mr. Khasim Sait
- Mr. Mohammad Arif Abdul Gaffar Dor
- Mr. Hanif A Khatri
- Mr. Syed Azeem
- Mr. Afzal Hussain
- Mr. Nuumaan Khasim
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 70.09% |
Lead Manager(s)
ONEVIEW CORPORATE ADVISORS PRIVATE LIMITED
Bajaj Bhawan, Room No. 111,
11th Floor, Nariman Point, Mumbai -400021
Phone: +91- 22- 43472247
Email: mbd@oneviewadvisors.com
Website: www.oneviewadvisors.com
Storage Technologies Racks and Rollers Registrar
INTEGRATED REGISTRY MANAGEMENT SERVICES PRIVATE LIMITED
No. 30, Ramana Residency, 4th Cross Sampige Road,
Malleswaram, Bengaluru – 560003
Phone: +91-80-23460815/816/817/818
Email: csdstd@integratedindia.in
Website: www.integratedindia.in
Contact Details
STORAGE TECHNOLOGIES AND AUTOMATION LIMITED
No 10, Survey No 21/6A, 21/7A, 21/7B and 21/8
Singanayakanahalli, Yelahanka, Bangalore, Karnataka, 560064
Phone: +91 98444 86300
E-mail: cs@racksandrollers.com
Website: www.racksandrollers.com
Allotment Status
Racks and Rollers IPO allotment status is now available on the website of Integrated Registry Management Services. Click on this link to get allotment status.
Final thoughts
Storage Technologies Racks and Rollers 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
