Rhetan TMT IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Aug 30, 2022Let’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.
Further 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:
- Ashoka Metcast Limited
- 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 Lakh |
| Net Issue to the Public | Up to 75, 84,000 Equity Shares aggregating up to Rs. 5,308.80 Lakh |
| 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 |
| ARYAMAN FINANCIAL SERVICES LIMITED 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 |
| BIGSHARE SERVICES PRIVATE LIMITED 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 Email:ipo@bigshareonline.com Website:www.bigshareonline.com 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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