Rajnandini Metal IPO – Review, Allotment, Subscription, GMP Price, Date & more

Rajnandini Metal IPO consists of 16,44,000 Equity shares of Rs.10 each at an issue price of Rs.26. Rajnandini Metal is one of the leading company trading of all types of ferrous and Non ferrous Metals, Copper wires, Copper ingot, Copper rod, Aluminum, Brass, zinc ingot and various metal Scrap, and other related items used in various electrical and industrial applications. 

Let’s have a detailed review of the company and analytics of the Rajnandini Metal IPO release date, IPO offer price, subscription, Rajnandini Metal IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Rajnandini Metal IPO Review & Ratings

Rajnandini Metal IPO Ratings & Review
Criteria Ratings
Industry Sentiments  6.3/10
Industry Ranking  7.3/10
Company Background 7.1/10
Company Reputation 6.4/10
Competitive Edge 6.4/10
Financial Statements 6.5/10
Popularity Index 7.2/10
Promoters Reputation 7.3/10
Retail Appetite  6.2/10
Top Brokers Review 6.6/10
Overall Ratings  6.9/10
Star Ratings ★★★☆☆

Summary of Rajnandini Metal IPO

Rajnandini Metal IPORajnandini Metal is a value-driven corporate consolidated their position through successful forays into diversified sectors like trading of all types of ferrous and Non ferrous Metals such as Copper Wires, ingot, scrap, and other related items used in various electrical and industrial applications. The IPO consists of 16,44,000 Equity Shares of Rs 10/- each at an Issue Price of Rs.26 so it will be aggregated to Rs.427.44 lakhs.

From FY 2014-15 to FY 2017-2018, as per the Restated Financial Statements:

For the period ended FY 2017-18, FY 2016-17 and FY 2015-16, its revenue from operations was Rs.14,112.23, Rs.12,695.36 , Rs.13,638.52, respectively and net profit was Rs.94.26,Rs.55.21 and Rs.31.62, respectively, representing a growth of 51.45% from the FY 2015-16 to FY 2016-17.

The Promoter of this company are Mr. Het Ram and Ms. Mithlesh Sharma. The lead manager to the issue is CORPORATE CAPITAL VENTURES PVT. LTD and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.


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Rajnandini Metal IPO Date

The opening and the closing date of IPO of Rajnandini Metal is 24 – 27 Sept 2018.


Rajnandini Metal IPO Subscription

Day / Date QIB NII RII Total Subscription
Day 1: 24 Sept 2018 NA 1.92x 0.03x 0.97x
Day 2: 25 Sept 2018 NA 2.01x 0.08x 1.04x
Day 3: 26 Sept 2018 NA 2.35x 0.16x 1.25x
Day 4: 27 Sept 2018 NA 2.38x 0.38x 1.38x
Shares Offered or Net Issue NA 780,000 780,000 1,560,000

Rajnandini Metal IPO Allotment Status

The allotment status will be known once the shares are subscribed. Here, you can find the Allotment Status of this IPO.


Rajnandini Metal IPO Price Band

The face value of each share is Rs 10 and the Issue price is Rs.26.


Rajnandini Metal IPO Equity Share Offering

16,44,000 Equity Shares of Rs 10/- each at an Issue Price of Rs.26 so it will be aggregated to Rs.427.44 lakhs.


Rajnandini Metal Limited – Company Overview

Rajnandini Metal was incorporated as a private limited company namely “Rajnandini Metal Private Limited” under the Companies Act, 1956 vide certificate of incorporation dated March 18, 2010 issued by Registrar of Companies, NCT of Delhi and Haryana bearing registration no 040255. Further, Company was converted into a Public Limited Company in pursuance of a special resolution passed by the members of our Company at the Extra Ordinary General Meeting held on March 01, 2018.

Company’s Product Portfolio offers a diversified product range which includes variety of grades, thickness, widths and standards, in of all types of ferrous and Non ferrous Metals according to customer specifications. They have been conscious in addressing environmental and safety concerns and our stocking facilities.

Competitive Strengths of Rajnandini Metal Limited:

  • Experienced management and a well trained employee base.
  • Existing client relationship.
  • Quality Assurance and Standards.
  • Expertise and vast industry experience.
  • Innovative Ideas.

Business strategies of Rajnandini Metal Limited:

  • Enhance customer base by entering new geographies.
  • Leveraging our Market skills and Relationships.
  • Focus on quality.

Rajnandini Metal Limited – 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-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 3,833.98 4,250.62 3,437.18 3,316.57 4,590.35 3,830.85
Total Revenue 14,115.52 12,730.96 13654.76 10,983.81 10,437.12 9,010.76
Total Expense 13,961.64 12,650.88 13,588.76 10,923.75 10,378.38 8,953.39
Profit After Tax 102.87 55.21 31.62 55.41 40.74 39.07

Earnings per Equity Share (in Lakhs)

31-Dec-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Basic  and Diluted 2.29 1.23 0.70 1.23 0.91 0.87

From the above statements, one could find that the Rajnandini Metal Limited may perform well.


Rajnandini Metal IPO – Promoters

The Promoter of this company are:

  • Mr. Het Ram
  • Ms. Mithlesh Sharma

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.


Rajnandini Metal IPO Offer Details or Issue Details

 Particulars  No. Of Equity Shares
 Equity Shares Offered 16,44,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 26/- per Equity Share Rs. 427.44 Lakh.
 Of which:
 Reserved for Market Makers 84,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 26/- per Equity Share aggregating Rs. 21.84 Lakh
 Net Issue to the Public 15,60,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 26/- per Equity Share aggregating Rs. 405.60 Lakh.
 Of which:
 Retail Investors Portion 7,80,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 26/- per Equity Share will be available for allocation to investors up to Rs. 2.00 Lakhs.
 Non-Retail Investors Portion 7,80,000 Equity Shares of face value of Rs.10/- each fully paid of the Company for cash at price of Rs. 26/- per Equity Share will be available for allocation to investors up to Rs. 2.00 Lakhs
 Equity Shares outstanding prior to the Issue 45,00,000 Equity Shares
 Equity Shares outstanding after the Issue 61,44,000 Equity Shares

Rajnandini Metal IPO Issue Object

These are the IPO Issue Objects of the company

  • To meet out the Working Capital requirements of the Company
  • General Corporate Purposes
  • Issue Expenses

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Rajnandini Metal 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:

  • Proven track record in the metal trading business.
  • Strong functional knowledge and expertise across industry sectors.
  • Competitive organization providing the best connecting solutions.
  • Leveraging the experience of our Promoter.
  • Experienced management team and a motivated and efficient work force.

The relevant quantitative factors are:

Basic & Diluted EPS RONW (%) NAV (Rs.)
31-Mar-16 0.70 4.84
31-Mar-17 1.23 7.79
31-Mar-18 2.29 12.68 18.03
  • Industry P/E Ratio:
Particulars P/E ratio
Average 15.58
Highest
Lowest
  • Competitive Peers

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Rajnandini Metal IPO Lead Managers

Lead Managers
CORPORATE CAPITAL VENTURES PVT. LTD.
160 Lower Ground Floor, Vinoba Puri, Lajpat Nagar
New Delhi-110024, Tel: +91-011-41704066
Website: www.ccvindia.com
Investor Grievance Email :
Contact Person: Mr. Tushar Shukla
SEBI Registration No. INM000012276

Rajnandini Metal IPO Registrar to offer

Registrar to the Offer
BIGSHARE SERVICES PRIVATE LIMITED
1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis,
Makwana Road, Marol, Andheri East, Mumbai – 400059
Tel: + 91-22-6263 8200, Contact Person: Mr. Ashok Shetty
E-mail:
Website: www.bigshareonline.com
SEBI Registration No.: INR000001385

Other Details:

  • Statutory and Peer Review Auditor – SANMARKS & ASSOCIATES, Chartered Accountants.
  • Bankers to the Company –  ICICI Bank Limited.
  • Legal Advisor to the Company- Fair and Just Legal Solutions LLP.
  • MARKET MAKER – SHARE INDIA SECURITIES LIMITED

Rajnandini Metal IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
Angel Broking 6.5/10 6.6/10 6.6/10 6.4/10 6.4/10
Sharekhan 6.7/10 6.4/10 6.6/10 6.1/10 6.2/10
Kotak Securities 6.7/10 6.7/10 6.7/10 6.4/10 6.3/10
ICICI Direct 6.6/10 6.3/10 6.7/10 6.5/10 6.5/10
IIFL 6.4/10 6.7/10 6.8/10 6.4/10 6.7/10
Edelweiss 6.7/10 6.4/10 6.4/10 6.3/10 6.7/10
Zerodha 6.5/10 6.4/10 6.7/10 6.4/10 6.5/10
5Paisa 6.7/10 6.4/10 6.3/10 6.7/10 6.5/10
Karvy 6.8/10 6.3/10 6.7/10 6.4/10 6.0/10
Motilal Oswal 6.6/10 6.4/10 6.6/10 6.6/10 6.4/10

 

Rajnandini Metal IPO Grey Market Premium

The Rajnandini Metal 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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Rajnandini Metal IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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