Rajputana Industries Ltd IPO Timeline

Rajputana Industries Ltd IPO opens on 30-Jul-2024, and closes on 01-Aug-2024. The Rajputana Industries Ltd IPO bid date is from 30-Jul-2024 to 01-Aug-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Rajputana Industries Ltd IPO Opening Date 30-Jul-2024
Rajputana Industries Ltd IPO Closing Date 01-Aug-2024
Basis of Allotment 02-Aug-2024
Initiation of Refunds 05-Aug-2024
Credit of Shares to Demat 05-Aug-2024
Rajputana Industries Ltd IPO Listing Date 06-Aug-2024

Rajputana Industries Ltd IPO Lot Size

Rajputana Industries Ltd IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or 114000).

Application Lots Shares Amount
Minimum 1 3000 ₹114000
Maximum 1 3000 ₹114000

Rajputana Industries Ltd IPO Details

Rajputana Industries Ltd IPO Date 30-Jul-2024 to 01-Aug-2024
Rajputana Industries Ltd IPO Face Value Shares of ₹10 per share
Rajputana Industries Ltd IPO Price ₹36 to ₹38 per share
Rajputana Industries Ltd IPO Lot Size 3000
Issue Size Shares of ₹10 (aggregating up to ₹22.88 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹23.88 Cr)
Offer for Sale -
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Shera Energy Ltd, Sheikh Naseem, Shivani Sheihk.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Funding the working capital requirement of the company
  • 2 Purchase of Grid Solar Power Generating System
  • 3 General corporate purposes

Company Financials

Rajputana Industries Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 149.75 327.01 5.13
03-2023 117.81 255.25 3.10
Amount in ₹ Crore
  • Experienced senior management team and qualified workforce.
  • Long standing relationships with existing clientele.
  • Focus on Quality.
  • Established Manufacturing facility.
  • Innovative Ideas.
  • Industry Knowledge and Expertise.
  • The company derives 51.33%, 90.60% and 93.66% of its revenue from the company Promoter Group Companies and Promoting Company for the Financial Years ended on March 31, 2024, 2023 and 2022 respectively. These or any future related party transactions may potentially involve conflicts of interest and there can be no assurance that the company could not have achieved better terms, had such arrangements been entered into with unrelated parties.
  • The company is highly dependent upon a limited number of suppliers 79.49%, 87.42% and 92.75% of its Total Purchases are derived from the company's top 10 suppliers for the Fiscal Years ended on March 31, 2024, 2023 and 2022. Further its 45.98%, 52.35%, and 73.18% of the company total purchases for Fiscal Years ended on March 31, 2024, 2023 and 2022 are procured from its holding and group companies. Any failures of the company suppliers to deliver these products in the necessary quantities or to adhere to delivery schedules, credit terms or specified quality standards and technical specifications may adversely affect its business and the company's ability to deliver orders on time at the desired level of quality.
  • The company has in the past entered into transactions with related parties and may continue to do so in the future. These or any future related party transactions may potentially involve conflicts of interest and there can be no assurance that the company could not have achieved better terms, had such arrangements been entered into with unrelated parties.
  • Its Promoters or Directors may have interests, either directly or indirectly, in ventures involved in a business similar to it or its Holding Company may be involved in a business similar to it, which may result in a real or potential conflict of interest.
  • The Company was operating with negative working capital for the fiscal year 2021 and 2022. Its inability to meet the company working capital requirement may have adverse effect on its results of operations.
  • Its manufacturing capacities may not reach their installed capacity and the company may also be unable to effectively utilize its expanded manufacturing capacities.
  • The Company has a negative cash flow from its operating, investing and financing activities in past three years, details of which are given below, sustained negative cash flow could impact its growth and business.
  • Its Promoter, Sheikh Naseem and Shivani Sheikh were alleged to be involved in a criminal matter relating to abetment of suicide. Though a negative final report has been filed by the police in the court and the complaints Amit Dusad has given his acceptance to abide by the police investigation (FR), yet a final disposal order is pending from the court. If an adverse order is delivered by the court in the matter, it may lead to re-opening of investigation and may have an impact on its business and reputation.
  • The Company, its Promoters and the company's Directors other than promoters are involved in certain legal proceedings. Any adverse decision in such proceedings may render it / them liable to liabilities / penalties and may adversely affect its business and results of operations.
  • The company's trademark is registered in the name of Sheikh Naseem, one of the promoters, and the Company has obtained license to use the trademark through a license agreement. Failure to protect intellectual property may adversely affect its reputation, goodwill and business operations.
  • Its cost of production is exposed to fluctuations in the prices of raw material particularly Copper scrap, Brass scrap and the Company has not entered into any agreement with respect to long-term supply for raw materials required.
  • Any inability on its part to manufacture and sell quality products that the company produce and satisfy its customer needs could adversely impact the company's business, results of operations and financial condition.
  • The company generally do business with its customers on purchase order basis and does not enter into long-term contracts with most of them.
  • The Company is dependent on third party transportation providers for transportation of raw materials and finished goods. Accordingly, any increase in transportation costs or unavailability of transportation services for its products or transportation strikes may have an adverse effect on its business.
  • The industry segments in which the company operates being fragmented, its faces competition from other players, which may affect the company's business operations and financial conditions.
  • Non-Compliance with and changes in safety, health and environmental laws and other applicable regulations may adversely affect its business, prospects, financial condition and results of operations.
  • There have been certain inadvertent inaccuracies, delay and non-compliances with respect to certain regulatory filings and corporate actions taken by the Company. Consequently, its may be subject to regulatory actions and penalties for any past or future non-compliance and its business and financial condition may be adversely affected.
  • The company is required to maintain certain licenses, approvals, registrations, consents and permits in the ordinary course of business. Failure to obtain the requisite approvals result in non-compliance and therefore, affect its business operations, financial condition, result of operations and prospects.
  • The company has certain contingent liabilities that have not been provided for in its financial statements, which if they materialise, may adversely affect its financial condition, cash flows and results of operations.
  • Its lenders have charge over the company movable and immovable properties in respect of finance availed by it and the agreements governing its indebtedness contain conditions and restrictions on its operations, additional financing and capital structure.
  • Its Promoters and members of the Promoter Group have provided personal guarantees to certain loan facilities availed by it, which if revoked may require alternative guarantees, repayment of amounts due or termination of the facilities.
  • The Company has obtained unsecured loans from Directors, Promoter Group/Promoter Group Companies and Other Companies which are repayable on demand. Any demand from lenders for repayment of such unsecured loans, may adversely affect its cash flows.
  • Changes in technology may render its current technologies obsolete or requires the company to make substantial capital investments.
  • Its success will depends on the company ability to attract and retain its key managerial personnel, design, technical and engineering team and other key personnel.
  • If the company is unable to source business opportunities effectively, its may not achieve the company financial objectives.
  • Its may not be successful in implementing its business strategies.
  • The company has not entered into any formal arrangement for technical support service for maintenance and smooth functioning of its equipments and machineries, which may affect its performance.
  • The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
  • The average cost of acquisition of Equity Shares by its Promoters could be lower than the floor price.
  • The company is subject to risks associated with expansion into new geographic regions.
  • Within the parameters as mentioned in the chapter titled 'objects of the Issue' beginning on page 93, the Company's management will have flexibility in applying the proceeds of this Issue. The fund requirement and deployment mentioned in the Objects of this Issue have not been appraised by any bank or financial institution.
  • There is no monitoring agency appointed by the Company and the deployment of funds are at the discretion of its Management and the company Board of Directors, though it shall be monitored by the Audit Committee.
  • The Company may not completely utilise the Net Proceeds of the Issue for the objects stated in FY 2024-25.
  • The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further the company has not identified any alternate source of financing the `Objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
  • Its future funds requirements, in the form of issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the shareholders depending upon the terms on which they are eventually raised.
  • Any negative publicity or defect in product quality may cause the Company substantial costs which in turn could adversely affect its goodwill and our sales could be diminished.
  • Properties, on which the company have its registered office is not owned by it. Any termination or dispute in relation to this lease/ rental agreement may have an adverse effect on its business operations and results thereof.
  • Outbreaks of contagious diseases, such as the outbreak of COVID-19, may have a material adverse effect on its business, financial condition, results of operations, cash flows and prospects.
  • In addition to standard remuneration or benefits and reimbursement of expenses, some of its Promoters, Directors and key managerial personnel are interested in the Company to the extent of their shareholding, dividend entitlement and lease rent received, in the Company.
  • Its may not have sufficient insurance coverage to cover all possible losses.
  • The company's business is subject to strikes, work stoppages and/or increased wage demands, as well as other disputes with its employees.
  • Its ability to pay dividends in the future may depends upon the company's future revenues, profits, financial condition, cash flows, working capital requirements, capital expenditures and restrictive covenants in its financing arrangements.
  • Its operations may be adversely affected in case of industrial accidents at any of the company manufacturing facilities.
  • Its Promoters will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • Industry information included in this Draft Red Herring Prospectus has been derived from publicly available industry reports and/or websites. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
  • Subsequent to the listing of the Equity Shares, the company may be subject to surveillance measures, such as the Additional Surveillance Measures and the Graded Surveillance Measures by the Stock Exchanges in order to enhance the integrity of the market and safeguard the interest of investors.
  • There are restrictions on daily / weekly / monthly movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
  • The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
  • After this Issue, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.
  • The Issue price of its Equity Shares may not be indicative of the market price of the company Equity Shares after the Issue and the market price of its Equity Shares may decline below the Issue price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • You will not be able to sell immediately on Stock Exchange any of the Equity Shares you purchase in the Issue until the Issue receives appropriate trading permissions.
  • QIB and Non-Institutional investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting the Bid.
  • Sale of Equity Shares by its Promoter or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
  • Expanding its customer base.
  • Increasing operational efficiencies to enhance returns.
  • Invest in infrastructure and technology.
  • Product Enhancement and Quality Focus.
  • Customer Engagement for Brand Growth.

Rajputana Industries Ltd IPO Promoter Holding

Pre Issue Share Holding 88.90%
Post Issue Share Holding 63.74%

Rajputana Industries Ltd IPO Subscription Status (Bidding Detail)

The Rajputana Industries Ltd IPO is subscribed 347 times on Aug 01, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 347

Rajputana Industries Ltd IPO Prospectus

Rajputana Industries Ltd IPO Listing Date

Listing Date 06 Aug 24
BSE Script 92960
NSE Symbol RAJINDLTD
Listing In NSE - SME
ISIN INE0PCU01012
IPO Price ₹38
Face Value ₹10

Rajputana Industries Ltd IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91 022-6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Rajputana Industries Ltd IPO Lead Manager(s)

  1. Holani Consultants Pvt Ltd

FAQs on Rajputana Industries Ltd IPO

Rajputana Industries Ltd IPO, which opens for subscription from 30-Jul-2024 to 01-Aug-2024 has an issue size of ₹22.88 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Rajputana Industries Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Rajputana Industries Ltd IPO Opens for subscription from 30-Jul-2024 to 01-Aug-2024.

The lot size of Rajputana Industries Ltd is 3000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹114000 and ₹114000 respectively.

Allotment date for Rajputana Industries Ltd is 02-Aug-2024 and refund of application amount (in case allotment is not received) will begin from 05-Aug-2024. If your allotment goes through, then shares will be credited in your Demat account by 05-Aug-2024.

The registrar for Rajputana Industries Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Rajputana Industries Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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