The IPO of Rappid Valves India Limited saw a whirlwind of interest, closing with a massive 176.13x subscription! 📈 The IPO opened for bidding from September 23 to September 25, and by the final day, the numbers were jaw-dropping. The ₹30.41 crore IPO attracted intense bidding from Non-Institutional Investors (NIIs) and retail investors alike.
🔥 IPO Highlights
- Total Subscription: 176.13x overall 🏆
- Retail Subscription: 109x 🛍️
- NII Subscription: A mind-blowing 491.84x! 💼
- QIB Subscription: 55.97x 📊
Rappid Valves’ issue saw 16.04 crore bids for just 9.1 lakh shares, showcasing how in-demand the shares were. The IPO, consisting entirely of fresh issues (13.7 lakh shares), was a blockbuster!
IPO Price & Share Allotment Info 💸
- Price Band: ₹210 – ₹222 per share
- Lot Size: Minimum of 600 shares, meaning retail investors needed to shell out ₹1,33,200 to get in.
- Allotment Date: Likely to be finalized on Thursday, September 26.
- Refunds & Share Credit: Unsuccessful bidders will get their refunds on Friday, September 27, and successful bidders will see shares credited in their Demat accounts the same day.
- Listing Date: Tentatively set for Monday, September 30 on the NSE SME platform (Emerge).
Rappid Valves IPO Objectives 🏗️
The company aims to use the funds for:
- Purchasing new plant and machinery ⚙️
- Renovating their office and manufacturing unit 🛠️
- Loan repayment 💳
- Acquisitions and general corporate purposes 📈
#RapidValves SME IPO opening next week.
— Manish Lalwani (@manishlalwani9) September 20, 2024
The company manufactures valves like Ball valves, Gate Valves, Globe Valves etc using ferrous and non-ferrous materials
2x jump in revenue, 5x jump in PAT margin in IPO year 🫣🫣
Will need to see if this growth looks sustainable. pic.twitter.com/FI9WWYAYGq
About Rappid Valves India 🏢
Established in 2002, Rappid Valves India Limited specializes in producing various valve types like ball valves, gate valves, and globe valves. As of June 30, 2024, the company employed 47 workers in its manufacturing facility. They’re all set to expand operations and modernize their setup, using the IPO proceeds to fuel future growth! 🌱
Stay tuned for the allotment announcement on September 26, and the stock market debut on September 30!