Thaai Casting IPO will open for subscription from 15 February 2024. The company aims for an issue size of ₹47.20 Cr through this IPO.
Company Overview
| Full name | Thaai Casting Limited |
| Sector | Automobile & Ancillaries |
| Industry | Casting & Forgings |
| Company Website | https://www.thaaicasting.com/ |
About Company
Thaai Casting is a renowned automotive ancillary company with IATF 16949:2016 certification. Specializing in High-Pressure Die Casting, precision machining of both Ferrous and Non-Ferrous materials, and induction heating and quenching. In recognition of its commitment to environmental sustainability, the company proudly received the MSIL-GREEN Certification from Maruti Suzuki India Limited in 2021.
The company’s product portfolio includes a diverse range of automobile components, such as engine mounting support brackets, transmission mounts, fork shift, and housing, armature for steering wheels, electrical connectors, YFG base frame (right-hand drive side/left-hand drive side), housing, top cover, and more. As of 30 September 2023, the company employs 132 individuals. Verticals of its Business:
- High Pressure Die Casting(“HPDC”)
- Machining of Ferrous and Non-Ferrous
- Induction Heating and Quenching
The Objectives of the Issue
- To meet the Capital Expenditure;
- Fore Issue Expenses.
- General Corporate Purposes.
Thaai Casting IPO Timetable
| IPO Opening date | 15 February 2024 |
| IPO Closing | 20 February 2024 |
| Basis of Allotment | 21 February 2024 |
| Initiation Refund | 21 February 2024 |
| Credit to Demat Account | 22 February 2024 |
| Listing Date | 23 February 2024 |
Thaai Casting IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹47.20 Cr – 6,129,600 shares |
| Fresh Issue | ₹47.20 Cr – 6,129,600 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹73 to ₹77 per share |
| Lot size | 1600 Shares |
| Market Maker portion | 347,200 shares |
| Shareholding pre-issue | 17,000,000 |
| Shareholding post-issue | 23,129,600 |
| Listing Exchange | NSE SME |
Thaai Casting IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹123,200 |
| Retail (Max) | 1 | 1600 | ₹123,200 |
| HNI (Min) | 2 | 3,200 | ₹246,400 |
Thaai Casting IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Thaai Casting Financial Performance
| FY 2021* | FY 2022* | FY 2023* | 7M FY 2024* | |
| Revenue | 20.43 | 38.34 | 48.96 | 28.89 |
| Expenses | 19.90 | 36.66 | 41.91 | 21.36 |
| Net income | 0.40 | 1.15 | 5.04 | 5.57 |
Thaai Casting Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.24 | 0.68 | 2.96 |
| PE ratio | – | – | 24.66 – 26.01 |
| RONW (%) | 8.49 | 16.87 | 40.10 |
| NAV | 2.79 | 5.26 | 9.51 |
| ROCE (%) | 3.00 | 5.00 | 13.00 |
| EBITDA (%) | 13.06 | 13.16 | 25.17 |
| Debt/Equity | 2.77 | 2.63 | 1.85 |
Company Promoters
- Sriramulu Anandan
- Anandan Shevaani
- Chinraj Venkatesan
Promoter Holding
| Pre Issue Share Holding | 86.50% |
| Post Issue Share Holding |
Thaai Casting IPO Lead Manager(s)
GYR CAPITAL ADVISORS PRIVATE LIMITED
428, Gala Empire, Near JB Tower,
Drive in Road, Thaltej
Ahmedabad-380 054, Gujarat, India
Phone:+91 8777564648
Email: info@gyrcapitaladvisors.com
Website: www.gyrcapitaladvisors.com
Thaai Casting Registrar
PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED
9, Shiv Shakti Industrial Estate, J.R. Boricha Marg, Lower
Parel (East) Mumbai-400011, Maharashtra India
Phone: +91 022 4961 4132
Email: support@purvashare.com
Website: www.purvashare.com
Thaai Casting Contact Details
THAAI CASTING LIMITED
No. A-20 SIPCOT Industrial Park, 7th Cross Street,
Pillaipakkam, Tiruvallur, Tamil Nadu, India, 602105
Phone: +91 79046 50127
E-mail: cs@thaaicasting.com
Website: www.thaaicasting.com
Thaai Casting IPO Allotment Status
Thaai Casting IPO allotment status will be available on Purva Sharegistry’s website. Click on this link to get allotment status.
Final thoughts
Thaai Casting 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 make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
