Rachana Infrastructure IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Jun 02, 2022Let’s have a detailed review of the company and analytics of the Rachana Infrastructure IPO release date, IPO offer price, subscription, Rachana Infrastructure Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 138 |
| Listing At | NSE SME |
| Min. Order Quantity | 1000 Shares |
| Listing Date | NA |
| Offer for Sale | Rs 3899 Lakhs |
| Fresh Issue | Rs 3899 Lakhs |
| IPO Size | Rs 7797 Lakhs |
| Tick Size | 1 |
Rachana Infrastructur IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Rachana Infrastructure IPO – Summary
Their Company was originally incorporated as ‗Rachana Infrastructure Limited‘ as Public Limited Company under the provisions of Companies Act, 1956 vide Certificate of Incorporation dated June 29, 2001 bearing Corporate Identification Number U45203GJ2001PLC039725 issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli.
The Promoter of this company is MR. GIRISHKUMAR RAVAL AND MRS. BHAMINIBEN MEHTA. The lead manager to the issue is INTERACTIVE FINANCIAL SERVICES LIMITED, and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.
Rachana Infrastructure IPO Date
The opening and the closing date of Rachana Infrastructure IPO are May 20, 2022 and Jun 2, 2022 Respectively.
Rachana Infrastructure IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 20th May | 0.00x | 0.12x | 0.06x |
| 2nd Day – 23rd May | 0.04x | 0.21x | 0.13x |
| 3rd Day – 24th May | 0.04x | 0.22x | 0.13x |
| 4th Day – 25th May | 0.09x | 0.27x | 0.18x |
| 5th Day – 26th May | 0.09x | 0.29x | 0.19x |
| 6th Day – 27th May | 0.09x | 0.31x | 0.20x |
| 7th Day – 30th May | 0.37x | 0.34x | 0.36x |
| 8th Day – 31st May | 0.47x | 0.36x | 0.42x |
| 9th Day – 1st June | 0.63x | 0.44x | 0.53x |
| 10th Day – 2nd June | 1.82x | 0.60x | 1.21x |
| Shares Offered or Net Issue | 2,683,000 | 2,683,000 | 5,366,000 |
The shares subscribed by the public will be updated here.
Check Rachana Infrastructure IPO LIVE Subscription
- Rachana Infrastructure IPO LIVE Bid details on BSE
- Rachana Infrastructure IPO LIVE Bid details on NSE
For the Latest Bid details click on the above links.
Rachana Infrastructure IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Rachana Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | – |
| Refunds Initiation | – |
| Credit of Shares to Demat Account | – |
| Share Listing Date | – |
Rachana Infrastructure IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.138
Rachana Infrastructure IPO Equity Size
This Initial Public Issue of 5,650,000 Equity Shares of Rs.10 each for cash at a price of Rs.138 per equity share aggregating to Rs.7797 Lakhs
Rachana Infrastructure IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 2,825,000 Equity Shares of Rs.10/ each.
Issue Size: 5,650,000 Equity Shares of Rs.10 each, aggregating to Rs.7797 Lakhs
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Rachana Infrastructure IPO – Live Performance
The listing date of this IPO is [●]. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Rachana Infrastructure Share Price |
Rachana Infrastructure IPO Grey Market Premium
The Rachana Infrastructure Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Rachana Infrastructure IPO – Company Overview
They are one of the mid size private sector company engaged in the business of Construction of Road projects on Bill of Quantities (BOQ) and EPC basis.
In the very initial periods, Their Company got the contracts from the Government (Zilla Panchayat) at a very small scale.
In addition, they got sub contracts from the infrastructure Companies from Gujarat, Maharashtra and many other states.
Over a period of time,Company got expertise in the traditional construction of Buildings, Road Construction, Irrigation, Hydro power Project and Mining.
With time and experience, they started expanding their business in the other states of the India like Maharashtra, Madhya Pradesh, Jharkhand and Rajasthan.
Rachana Infrastructure IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | ||||
| 31-Dec-21 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Total Assets | 8,784.50 | 8,043.07 | 10,618.21 | 7,981.82 |
| Total Revenue | 4,171.07 | 10,705.67 | 15,840.55 | 11,393.32 |
| Total Expense | 3,998.76 | 10,173.835 | 15,018.53 | 10774.96 |
| Profit After Tax | 139.85 | 455.31 | 597.13 | 466.45 |
Earnings per Equity Share (in Lakhs)
| 31-Dec-21 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Basic & Diluted | 2.66 | 8.66 | 11.35 | 8.87 |
Further, their PAT for the period ended on Dec 31, 2021, March 31, 2021, March 31, 2020, and March 31, 2019, were in Lakhs Rs.139.85, Rs.455.31, Rs.597.13 and Rs.466.45 respectively.
Rachana Infrastructure IPO – Promoters
The Promoter of this company is:
- MR. GIRISHKUMAR RAVAL
- MRS. BHAMINIBEN MEHTA
List of Related Parties (Key Managerial Personnel)
- Girishkumar Raval, Managing Director
- Ashokkumar Raval, Director
- Bhaminiben Mehta, Director
- Kalpit Dave, Independent Director
- Saureen Patel, Independent Director
- Bharatkumar Chaudhary, Independent Director
Rachana Infrastructure IPO – Promoters Holding
- Pre Issue Share Holding – 83.44%
- Pos Issue Share Holding – %
Rachana IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 56,50,000 Equity Shares aggregating up to Rs.7797 Lakhs |
| of which: | |
| Issue Reserved for the Market Makers | Up to 28,25,000 Equity Shares aggregating up to Rs.3898.5 Lakhs |
| Net Issue to the Public | Up to 28,25,000 Equity Shares aggregating up to Rs.3898.5 Lakhs |
| Of which: | |
| Retail Investors Portion | Not less than 2,84,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 53,66,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 26,83,000 Equity Shares |
| Equity Shares outstanding after the Issue | 26,83,000 Equity Shares |
Rachana Infrastructure IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. Repayment of Secured Loans
2. Working capital requirement
3. General Corporate Purpose,
4. Meeting Public Issue Expenses.
Rachana Infrastructure IPO – Business Strategy
- Improve performance and enhance returns from their core business
- Increase the order book by getting the order in HAM, BOT, EPC and PPP mode projects.
- Expand their geographical footprint.
Rachana Infrastructure IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Leading Road Focused EPC Contractor
- Management and an integrated in-house project team
- Visible growth through a robust order book .
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 8.66 | 11.63 | 24.82 |
| 31-Mar-20 | 11.35 | 17.28 | – |
| Mar-19 | 8.87 | 16.40 | – |
Rachana Infrastructure IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Rachana Infrastructure Limited | 10 | 47.75 | 2.89 | 11.63 | 10705.67 |
| Listed Peers | |||||
| HEC Infra Projects Limited | 10 | 20.33 | 1.53 | 1.07 | 3826.78 |
| Akash Infra projects Limited | 10 | 273.69 | 0.65 | 1.42 | 6705.68 |
Rachana Infrastructure IPO Lead Managers
| Lead Managers |
| INTERACTIVE FINANCIAL SERVICES LIMITED Address: 701-702, A Wing, Samudra Complex, 07th Floor, Off CG Road, Near Girish Cold Drinks, Navrangpura, Ahmedabad – 380009, Gujarat, India Tel No.:+079-2658-1240 Web Site : www. ifinservices.in Email : mbd@ifinservices.in Investor Grievance Email: info@ifinservices.in Contact Person: Ms. Jaini Jain SEBI Reg No :INM000012856 |
Rachana Infrastructure IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED Address: 1st Floor, Bharat Tin works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai-400059 Tel No:+91 22-62638200 Fax No +91 22-62638280 Website: www.bigshareonline.com E-Mail: ipo@bigshareonline.com Investor Grievance Email: investor@bigshareonline.com Contact Person: Mr. Swapnil Kate SEBI Reg. No.: INR000001385 |
Rachana Infrastructure IPO – Other Details
- Statutory Auditor – Ankit Chokshi& Co., Chartered Accountants
- Legal Counsel to the Company – Marfatia Maulin
- Bankers to the Company – Axis Bank Limited, Bank of Baroda
Rachana Infrastructure IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Rachana Infrastructure Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Rachana Infrastructure IPO Review FAQs
Check out various FAQs related to Rachana Infrastructure IPO:
What is the Issue Size of Rachana IPO?
The Company is making an initial public offer of 5,650,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and the net issue.
What is the Price band of Rachana Infrastructure IPO?
The price band for this particular IPO ranges between Rs.138. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Rachana Infrastructure IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on May 20, 2022, while the closing date is set at Jun 2, 2022.
What is the Rachana IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the Rachana Infrastructure IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of Rachana IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Bigshare Services Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Rachana Infrastructure IPO?
Here are the promoters of this IPO – MR. GIRISHKUMAR RAVAL AND MRS. BHAMINIBEN MEHTA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is GMP of RachanaIPO?
They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Rachana Infrastructure IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Rachana Infrastructure Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Lakhs is 455.31, 2020 is 597.13, 2019 is 466.45. PAT from Dec 2021 is 139.85.
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