Storage Technologies Racks and Rollers IPO

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 nameStorage Technologies Racks and Rollers Limited
SectorCapital Goods
IndustryEngineering – Industrial Equipments
Company Website

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 date30 April 2024
IPO Closing03 May 2024
Basis of Allotment06 May 2024
Initiation Refund07 May 2024
Credit to Demat Account07 May 2024
Listing Date08 May 2024
(Cut-off time for UPI mandate confirmation – 5 PM on May 3, 2024)

Storage Technologies Racks and Rollers IPO details

Issue typeBook Built Issue IPO
IPO issue size₹29.95 Cr – 3,840,000 shares
Fresh Issue₹29.95 Cr – 3,840,000 shares
Offer for saleNil
Face value₹10 per share
Price Band ₹73 to ₹78 per share
Lot size1600 Shares
Market Maker portion200,000 shares
Shareholding pre-issue9,000,000
Shareholding post-issue12,840,000
Listing ExchangeBSE SME

Storage Technologies Racks and Rollers IPO Lot Size

Retail (Min)11600₹124,800
Retail (Max)11600₹124,800
HNI (Min)23,200₹249,600

Reservation Details

Investor CategoryShares Offered
Anchor Investor Shares Offered1,089,600 (28.38%)
Market Maker Shares Offered200,000 (5.21%)
QIB Shares Offered728,000 (18.96%)
NII (HNI) Shares Offered547,200 (14.25%)
Retail Shares Offered1,275,200 (33.21%)
Total Shares Offered3,840,000 (100%)

Financial Performance

 FY 2021FY 2022FY 20237M FY 2024
Net income1.18(0.20)0.483.59
(Amount in ₹ Crores)

Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio45.34 – 48.45
RONW (%)8.12(3.75)20.89
ROCE (%)22.094.0213.76
EBITDA (%)6.263.845.36

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 Holding100%
Post Issue Share Holding70.09%

Lead Manager(s)

Bajaj Bhawan, Room No. 111,
11th Floor, Nariman Point, Mumbai -400021
Phone: +91- 22- 43472247

Storage Technologies Racks and Rollers Registrar

No. 30, Ramana Residency, 4th Cross Sampige Road,
Malleswaram, Bengaluru – 560003
Phone: +91-80-23460815/816/817/818

Contact Details

No 10, Survey No 21/6A, 21/7A, 21/7B and 21/8
Singanayakanahalli, Yelahanka, Bangalore, Karnataka, 560064
Phone: +91 98444 86300

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

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