Ramdevbaba Solvent IPO: The price band for initial public offering (IPO) of Ramdevbaba Solvent has been set in the range of ₹80 to ₹85 apiece with a face value of ₹10 each. The IPO will open for subscription on April 15 and close on April 18 and the lot size of the issue consists of 1,600 shares.
Ramdevbaba Solvent IPO: Company details
Ramdevbaba Solvent manufactures, distributes, markets and sells refined rice bran oil rice bran oil to fast-moving consumer goods (FMCG) firms like Empire Spices and Foods Ltd, Marico Limited and Mother Dairy Fruit & Vegetable Private Limited. The firm produces rice bran oil under exclusive names “Tulsi” and “Sehat” via thirty-eight (38) distributors as well.
Ramdevbaba Solvent IPO: Allocation details
The allocation of equity shares for the Ramdevbaba Solvent IPO includes up to 16,80,000 equity shares for QIB Anchor portion, up to 11,20,000 equity shares for Net Qualified Institutional Buyers (QIB), up to 8,40,000 equity shares for Non-Institutional Investors (NII) and up to 19,60,000 equity shares for Retail Individual Investors (RII).
Ramdevbaba Solvent IPO details
The IPO is worth about ₹50.27 crore and consists of a fresh issue of 59,13,600 equity shares with a face value of ₹10. There is no offer-for-sale component in the issue.
Ramdevbaba Solvent IPO: Company objectives
Net proceeds from the IPO will be used by the company to finance establishment of a new manufacturing facility, full or partial repayment of outstanding debt, funding of company’s working capital needs and general corporate purposes.
Ramdevbaba Solvent IPO: Registrar of the issue
The IPO’s book running lead manager is Choice Capital Advisors Private Ltd while the registrar is Bigshare Services Private Limited.
Visit www.cagurujiclasses.com for practical courses
