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Let’s have a detailed review of the company and analytics of the Rhetan TMT IPO release date, IPO offer price, subscription, Rhetan TMT 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. 70
Listing At BSE SME
Min. Order Quantity 2000 shares
Listing Date Sep 5, 2022
Offer for Sale
Fresh Issue Rs. 5600 Lakh
IPO Size Rs. 5600 Lakh
Tick Size 1

Rhetan TMT IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.

Rhetan TMT IPO – Summary

Their Company was incorporated as Shivani Rolling Mills Private Limited on June 26, 1984 under the Companies Act, 1956 with the Registrar of Companies, Gujarat.

Rhetan TMT IPOFurther name of their company was changed from Shivani Rolling Mills Private Limited to Shree Ghantakarna Rolling Mills Private Limited dated December 27, 1996. Further name of their company was changed from Shree Ghantakarna Rolling Mills Private Limited to Rhetan Rolling Mills Private Limited vide Special resolution dated August 29, 2018.

Further name of their company was changed from Rhetan Rolling Mills Private Limited to Rhetan TMT Private Limited dated December 31, 2021. The status of the Company was changed to public limited and the name of their Company was changed to Rhetan TMT Limited dated January 10, 2022.

The Corporate Identification Number of their Company is U27100GJ1984PLC007041.

The Promoter of this company is Ashoka Metcast Limited and Shalin Shah. The lead manager to the issue is ARYAMAN FINANCIAL SERVICES LIMITED, and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED .

Rhetan TMT IPO Date

The opening of Rhetan TMT IPO will be on Aug 22, 2022 and the closing date Aug 25, 2022.

Rhetan TMT IPO Subscription

Day / Date NII RII Total Subscription
1st Day – 22nd Aug 2.10x 0.13x 1.12x
2nd Day – 23rd Aug 2.10x 0.32x 1.21x
3rd Day – 24th Aug 2.11x 0.51x 1.31x
4th Day – 25th Aug 2.18x 0.76x 1.47x
Shares Offered or Net Issue 3,792,000 3,792,000 7,584,000

The shares subscribed by the public will be updated here.

Rhetan TMT 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.

Rhetan TMT Limited IPO Listing Date

Find the dates below on basis of allotment, refund, listing, and more:

Basis of Allotment Finalization Aug 30, 2022
Refunds Initiation Sep 1, 2022
Credit of Shares to Demat Account Sep 2, 2022
Share Listing Date Sep 5, 2022

Rhetan TMT IPO Price Band

The face value of each share is Rs.10, but the price band of the IPO is Rs.70.

Rhetan TMT IPO Equity Size

This Initial Public Issue of 80,00,000 Equity Shares of Rs.10 each for cash at a price of Rs.70 per equity share aggregating to Rs.5600 Lakh.

Rhetan TMT IPO Share Offering

Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 75,84,000 Equity Shares of Rs.10/ each.

Issue Size: Rs. 80,00,000 Equity Shares of Rs.10 each, aggregating to Rs. 5600 Lakh.

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    Rhetan TMT IPO – Live Performance

    The listing date of this IPO is Sep 5, 2022. You can check the live performance of the IPO here, only after it is listed on exchanges.

    Live IPO Performance – Rhetan TMT Share Price

    Rhetan TMT IPO Grey Market Premium

    The Rhetan TMT Limited IPO Grey Market Premium price is Rs 3, the Kostak rate is Rs X and the Subject to Sauda is X. 

    Rhetan TMT IPO – Company Overview

    Their Company owns and operates a Steel Rolling Mill with an aggregate installed capacity of 30,000 MTPA. They are an IS 1786: 2008 certified company and we manufacture TMT Bars and Round Bars which are primarily used in construction industry.

    Their products have been used in construction of dams, bridges, residential and commercial towers and major infrastructure projects in Gujarat.

    Their plant is located at Survey No. 325, Karannagar, Kadi-Kalol Road, Taluka Kadi, Dist. Mehsana, Gujarat – 382715and is spread over 15,000 sq. yards.

    The plant is fully geared with latest technologies to provide good quality steel productsand the plant is operating smoothly since 2019.They have a vision to become one the trusted brands in TMT Bars manufacturing in their geography.

    Rhetan TMT 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 & Lakh)
    31-Mar-22 31-Mar-21 31-Mar-20
    Total Assets 5,900.06  3,980.65 3,046.86
    *Total Revenue 6,703.45 5,213.01 2,008.26
    Total Expense 6,416.09 5,194.99 1,997.72
    Profit After Tax 234.57 13.44 (58.04)

    Earnings per Equity Share (in Lakh)

    31-Mar-22 31-Mar-21 31-Mar-20
    Basic & Diluted 2.00 0.18 (1.45)


    Further, their PAT for the period ended on 31-Mar-22, 31-Mar-21, and 31-Mar-20 were Rs. 234.57 Lakh, Rs. 13.44 Lakh, and Rs. (58.04) Lakh, respectively.

    Rhetan TMT IPO – Promoters

    The Promoter of this company is:

    1. Ashoka Metcast Limited
    2. Shalin Shah

    List of Related Parties (Key Managerial Personnel)

    • Shalin Shah, Managing Director
    • Ashok Shah, Non- Executive Director
    • Rushabh Shah, Non-Executive Independent Director
    • Twinkle Chheda, Non-Executive Independent Director

    Rhetan TMT IPO – Promoters Holding

    • Pre Issue Share Holding – 99.62%
    • Pos Issue Share Holding – 62.12%

    Rhetan TMT IPO Offer Details or Issue Details

     Particulars  No. Of Equity Shares
     Equity Shares Offered  Up to 80,00,000 Equity Shares aggregating up to Rs. 5600 Lakh
    of which:
    Issue Reserved for the Market Makers Up to 4,16,000 Equity Shares aggregating up to Rs.291.20
    Net Issue to the Public Up to 75, 84,000 Equity Shares aggregating up to Rs. 5,308.80
    Of which:
    Retail Investors Portion Not less than 50%
    Other than Retail Individual Investors Not more than 50%
     Equity Shares outstanding prior to the Issue 1,32,50,000 Equity Shares
     Equity Shares outstanding after the Issue 2,12,50,000 Equity Shares

    Rhetan TMT IPO Issue Object

    Their Company proposes to utilize the Net Proceeds towards funding the following objects:

    1. Funding capital expenditure for expansion and modernization at 325, Karannagar, Kadi-Kalol Road, Taluka Kadi, Dist. Mehsana, Gujarat – 382715
    2. Funding Working capital requirements
    3. General Corporate Purpose

    Rhetan TMT IPO – Business Strategy

    • Optimal Utilization of Resources
    • Quality Assurance
    • Expand their Current Business Operations

    Rhetan TMT 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:

    • Well educated and experienced management
    • Group Synergies
    • Location of the Manufacturing Unit

    The relevant quantitative factors are:

    Basic & Diluted EPS RONW (%) NAV (Rs.)
    31-Mar -22 2.00 10.14 17.46
    31-Mar-21 0.18 1.71
    31-Mar-20 (1.45) (192.14)

    Rhetan TMT IPO: Competitive Peers

    Face Value (Rs.) P/E EPS  (Rs.) Return on Net Worth (%) Total Income (Rs. in Lakhs)
    Rhetan TMT Limited 10 35.00 2.00 10 6,702.87
    Listed Peers
    Incredible Industries Ltd 10 30.91 0.77 0.03 53,567.22
    Hariom Pipe Industries Limited 10.00 11.89 18.83 31.64 43,056.65

    Rhetan TMT IPO Lead Managers

    Lead Managers
    60, Khatau Building, Ground Floor, Alkesh Dinesh Modi Marg, Fort,
    Mumbai – 400 001.
    Tel: +91 – 22 – 6216 6999
    Email: ipo@afsl.co.in
    Website: www.afsl.co.in
    Investor Grievance Email: feedback@afsl.co.in
    Contact Person: Vatsal Ganatra
    SEBI Registration No.: INM000011344

    Rhetan TMT IPO Registrar to offer

    Registrar to the Offer
    Office No. S6-2, 6th Floor, Pinnacle Business Park, Mahakali Caves
    Road, Next to Ahura Centre. Andheri (East), Mumbai – 400 093Tel. No.: +91 22
    6263 8200
    Investor Grievance Email:investor@bigshareonline.com
    Contact Person: Babu Rapheal
    SEBI Registration No.: INR000001385

    Rhetan TMT IPO – Other Details

    • Statutory Auditor – M/s. GMCA & Co., Chartered Accountants
    • Legal Counsel to the Company – MR. ASHISH SHAH, ADVOCATE
    • Bankers to the Company – Punjab National Bank

    Rhetan TMT 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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      Rhetan TMT Limited IPO News

      News 1 – IPO DRHP Download

      News 2 – IPO RHP Prospectus Download

      Rhetan TMT IPO Review FAQs

      Check out various FAQs related to Rhetan TMT IPO:

      What is the Issue Size of Rhetan TMT IPO?

      The Company is making an initial public offer of 8,000,000 equity shares. We 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 Rhetan TMT IPO?

      The price band for this particular IPO ranges between Rs. 70. As far as the face value of the share is of concern, it is Rs.10 per share.

      What is the Rhetan TMT IPO Open Date?

      The opening and closing dates for this IPO have been updated. The IPO is set to open on Aug 22, 2022, while the closing date is set at Aug 25, 2022.

      What is the Rhetan TMT IPO Allotment Date?

      We also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Aug 30, 2022, refund initiation is on Sep 1, 2022, credit of shares is on Sep 2, 2022, and share listing date is on Sep 5, 2022.

      What is the Rhetan TMT IPO Listing Date?

      Shares of this company shall be listed in the exchanges Sep 5, 2022. The date, when the listing would be done, is stagnant on Sep 5, 2022.

      Who is the Registrar of Rhetan IPO?

      One of the reputed registrars is managing the issue of this IPO, BIGSHARE SERVICES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.

      Who is the Promoter of Rhetan IPO?

      Here are the promoters of this IPO – Ashoka Metcast Limited and Shalin Shah. 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 Rhetan TMT IPO?

      We have obtained the GMP of this IPO and it is Rs.3. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.

      Is Rhetan IPO good for Investment?

      We 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 Rhetan TMT Company?

      We have the information of company financials, and according to that, we have the figures from the last few years to provide. PAT for the period ended on 31-Mar-22, 31-Mar-21, and 31-Mar-20 were Rs. 234.57 Lakh, Rs. 13.44 Lakh, and Rs. (58.04) Lakh, respectively.

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      Asset Class ROI (Rs.) Profit (Rs.) Profit (%)
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