Grill Splendor Services IPO: The initial public offering of Grill Splendor Services Ltd, which opened…
Ramdevbaba Solvent IPO opens today: Check price range, dates and important details before subscribing
Solvent Ramdevbaba IPO: Ramdevbaba Solvent IPO initial public offering opens for subscription today (April 15). The IPO price range was fixed in the range of $$80 for $$85 each nominal value of $$10 each and will close on April 10. The IPO lot size consists of 1,600 shares and up to 16,80,000 equity shares have been allocated to the QIB Anchor Portion, up to 11,20,000 equity shares to the Net Qualified Institutional Buyers (QIB), up to 8,40,000 equity shares for Non-Institutional Investors (NII), up to 19,60,000 equity shares for Retail Individual Investors (RII) and up to 3,13,600 equity shares for Market Maker.
Ramdevbaba Solvent IPO: Company Details
Ramdevbaba Solvent in the business of manufacturing, distributing, marketing and selling refined rice bran oil to fast moving consumer goods (FMCG) companies such as Empire Spices and Foods Ltd, Marico Limited and Mother Dairy Fruit & Vegetal Private Limited. It does the same under the exclusive names “Tulsi” and “Sehat” through thirty-eight (38) distributors. The company’s profit after tax (PAT) increased by 97.25% during March 31, 2022 and March 31, 2023, while revenue increased by 20.35%, it said.
Solvent Ramdevbaba IPO: Details
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The IPO is worth around $$50.27 crore and consists of a fresh issue of 59,13,600 shares with a face value of $$10. There is no offer for sale component in the issue.
Ramdevbaba Solvent IPO: Company Objectives
The net proceeds from the IPO will be used by the company to finance the establishment of a new production unit, full or partial repayment of outstanding debt, financing the company’s working capital needs and general corporate purposes, it said.
Ramdevbaba Solvent IPO: IPO Registrar and Lead Manager
The lead book-running manager for the IPO is Choice Capital Advisors Private Ltd, while the registrar is Bigshare Services Private Limited.
Ramdevbaba Solvent ipo gmp today
The gray market premium is $$18 which means that with the price range of $$85, the estimated listing price of Ramdevbaba Solvent SME IPO is $$103, according to investorgain.com.
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