Rajat City Developers IPO – Review, Allotment, Subscription, Price, Date & more
Last Updated Date: Aug 31, 2023Rajat City Developers is among the leading construction companies who have created their landmark all over the country. The Company has issued 11,01,600 Equity shares of Rs.10 each. Let’s have a detailed review of the company and analytics of the Rajat City Developers IPO release date, IPO offer price, subscription, Rajat City Developers IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Rajat City Developers IPO Review & Ratings
| Rajat City Developers IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 6.3/10 |
| Industry Ranking | 6.3/10 |
| Company Background | 6.1/10 |
| Company Reputation | 6.4/10 |
| Competitive Edge | 6.4/10 |
| Financial Statements | 6.5/10 |
| Popularity Index | 6.2/10 |
| Promoters Reputation | 6.3/10 |
| Retail Appetite | 6.2/10 |
| Top Brokers Review | 6.3/10 |
| Overall Ratings | 6.3/10 |
| Star Ratings | ★★★☆☆ |
Summary of Rajat City Developers IPO
Rajat City Developers are the Quality constructions group who give a propel commitment towards offering quality homes at affordable prices. The main aim of the group is to keep the customers happy and satisfied and help them find their dream homes. the company is a well known real estate developers with projects mainly at Kota. The company has pioneered newer technologies, precision engineering, and bold designs to make their landmark in residential townships. Their latest finance review:
- PAT increase from Rs -6.53 lakhs for the FY 2017 to Rs 62.72 lakhs in FY 2018. This increase was mainly due to increase in Revenue from Operations. During FY 2018, the Company recorded PAT margin of 2.99% as against -0.45% for FY 2017.
- Depreciation on fixed assets was 0.52% of Total income during FY 2018 as compared to 2.61% during FY 2017. The total depreciation during FY 2017 was Rs 38.32 lakhs and during FY 2018 it was Rs 10.97 lakhs.
The Promoter of this company are Dr. J.K Arora, and Dr. Rajat Arora. The lead manager to the issue is INVENTURE MERCHANT BANKER SERVICES PRIVATE LIMITED and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.
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Rajat city Developers IPO Date
The opening and the closing date of IPO of Rajat City Developers is not known yet.
Rajat City Developers IPO Subscription
| Subscription | |
| Day 1 | X |
| Day 2 | X |
| Day 3 | X |
| Day 4 | X |
| Day 5 | X |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Rajat City Developers IPO Allotment Status
The Issue is being made through the Fixed Price Process wherein up to 78,000 Equity Shares shall be reserved for Market Maker upto 55,200 Equity shares will be allocated on a proportionate basis to Retail Individual Applicants, subject to valid applications being received from Retail Individual Applicants at the Issue Price. The balance of the Net Issue will be available for allocation on proportionate basis to Non Retail Applicants.
Rajat City Developers IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
Rajat City Developers IPO Equity Share Offering
11,01,600 Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed so it will be aggregated to Rs __ Issue Price).
Rajat City Developers – Company Overview
Rajat City Developers was originally incorporated as a private limited company under the Companies Act, 1956 pursuant to a certificate of incorporation issued by the Registrar of Companies, Rajasthan, Jaipur dated July 14, 2008. Subsequently, the Company was converted into a public limited company pursuant to approval of the shareholders at an extraordinary general meeting held on May 02, 2018 and consequently, the name of the Company was changed to ‘Rajat City Developers Limited’ and a fresh certificate of incorporation consequent upon conversion to public limited company was issued by the Registrar of Companies, Rajasthan, Jaipur on May 09, 2018.
The main objects of the Company is to deal in immovable properties such as land and buildings and to purchase, acquire, brokerage, to and rent by leasing properties, take or give on lease or in exchange or in any other lawful manner in India or abroad land including agriculture land , udhyan, park, resorts, farms, plot, buildings, structures, farm houses and estates, real estates or interest therein.
Any rights over or connected with them and to develop the same for sale on installments or by preparing building sites and by constructing, altering, improving, developing, promoting, decorating, furnishing, maintaining of heritage spots, hotels, udhyan, resorts, malls, plazas, apartments, shopping malls, farm houses, complexes, commercial and residential buildings, colonization, multi-storey offices, multiplex, amusement park, flats, gardens, houses, shops, showrooms, group housing and townships and to equip them or any part thereof with all or any amenities or conveniences thereon and by consolidating or connecting or subdividing properties and leasing or disposing of the same and to manage such land and buildings.
Competitive Strengths of Rajat City Developers
- Experienced and Qualified management team
- Established brand and reputation
- Operation methodology
Business strategies of Rajat City Developers:
- Increase geographical presence
- Attracting and retaining the highest quality professionals.
Rajat City Developers – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | |||||
| 31-Dec-17 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 7,062.14 | 4,384.54 | 2,942.29 | 1,489.15 | 524.70 |
| Total Revenue | 1,610.95 | 381.34 | 1,267.34 | 1,043.71 | 0.55 |
| Total Expense | 1,285.59 | 265.03 | 1,105.77 | 941.67 | 4.50 |
| Profit After Tax | 62.72 | 6.53 | 45.77 | 39.27 | 10.23 |
Earnings per Equity Share (in Lakhs)
| 31-Dec-17 | 31-Mar-17 | 31-Mar-16 | |
| Basic | __ | __ | ___ |
| Diluted | ___ | __ | ___ |
From the above statements, one could find that the Rajat City Developers may perform well.
Rajat City Developers IPO – Promoters
The Promoter of this company are:
- Dr. J.K Arora
- Dr. Rajat Arora
List of Related Parties (Key Managerial Personnel)
- Zulfikar Pathan
- Masrat Khan
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Rajat City Developers IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | 11,01,600 Equity Shares of Rs 10/- each at an Issue Price (yet to be disclosed). |
| Of which: | |
| Reserved for Market Makers | 55,200 Equity Shares of Rs 10/- each at an issue price. |
| Net Issue to the Public | 10,46,000 Equity Shares of Rs 10/- each at an issue price. |
| Of which: | |
| Retail Investors Portion | __ Equity Shares of Rs 10/- each at an Issue Price |
| Non-Retail Investors Portion | __ Equity Shares of Rs 10/- each at an Issue Price. |
| Equity Shares outstanding prior to the Issue | 29,00,000 Equity Shares of Rs 10/- each |
| Equity Shares outstanding after the Issue | 40,01,600 Equity Shares of Rs 10/- each |
Rajat City Developers IPO Issue Object
These are the IPO Issue Objects of the company
- Purchase of Materials for Park View and Platina Projects at Kota
- Land Development Expenses at Land Development and Plotting Project, Village Naya Nohra, Tehsil Ladpura,
District Kota - General Corporate Purposes
Rajat City Developers IPO – Basis of the 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:
-
- Experienced and Qualified management team
- Established brand and reputation
- Operation methodology
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | 2.2 | 12.57% | NA |
| 31-Mar-17 | -.23 | -1.83% | NA |
| 31-Mar-18 | 2.16 | 14.92% | NA |
- Industry P/E Ratio:
| Particulars | P/E ratio |
| Average | NA |
| Highest | NA |
| Lowest | NA |
Rajat City Developers IPO Lead Managers
| Lead Managers |
| INVENTURE MERCHANT BANKER SERVICES PRIVATE LIMITED
2nd Floor, Viraj Tower, Nr. Andheri Flyover (North End) |
Rajat City Developers IPO Registrar to offer
| Registrar to the Offer |
| BIG SHARE SERVICES PRIVATE LIMITED 1st floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri (East), Mumbai- 400 059, Maharashtra, India Tel. No.: +91 22 6263 8200 Fax No.: +91 22 6263 8299 Email:ipo@bigshareonline.com Website: www.bigshareonline.com SEBI Registration No: INR000001385 Contact Person: Babu Raphael |
Other Details:
- Statutory Auditor –M/s. Ajit Jain & Co., Chartered Accountants.
- Peer Review Auditor –M/s. Chaudhary Chaudhary & Co. , Chartered Accountants
- Bankers to the Company – HDFC Bank
Rajat City Developers IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.7/10 | 7.7/10 | 7.8/10 | 7.3/10 | 7.7/10 |
| Sharekhan | 7.4/10 | 7.4/10 | 7.5/10 | 7.7/10 | 7.8/10 |
| Kotak Securities | 7.7/10 | 7.4/10 | 7.3/10 | 7.8/10 | 7.5/10 |
| ICICI Direct | 7.8/10 | 7.7/10 | 7.5/10 | 7.5/10 | 7.7/10 |
| IIFL | 7.5/10 | 7.8/10 | 7.6/10 | 7.7/10 | 7.5/10 |
| Edelweiss | 7.3/10 | 7.6/10 | 7.7/10 | 7.6/10 | 7.6/10 |
| Zerodha | 7.7/10 | 7.6/10 | 7.7/10 | 7.5/10 | 7.7/10 |
| 5Paisa | 7.9/10 | 7.5/10 | 7.8/10 | 7.3/10 | 7.6/10 |
| Karvy | 7.7/10 | 7.3/10 | 7.5/10 | 7.5/10 | 7.7/10 |
| Motilal Oswal | 7.9/10 | 7.7/10 | 7.6/10 | 7.3/10 | 7.7/10 |
The ratings would be updated once the financials and the other details of the IPO are released.
Rajat City Developers IPO Grey Market Premium
The Rajat City Developers IPO Grey Market Premium is yet to be announced. It will be updated as soon as the premium rates are announced.
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