Ramdevbaba Solvent Ltd IPO
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Ramdevbaba Solvent Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| 59.14 L | TBA | 19.6 L | 106.05 L | NSE | ₹ 50.27 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 15 Apr, 24 | 18 Apr, 24 | 1600 | ₹ 1,28,000 | Book Building - SME | 23 Apr, 24 |
Ramdevbaba Solvent Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Solvent Extraction |
| Sub Sector | NA |
| Issue Type | Book Building - SME |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 26.38x | 2800000 | 73862400 |
| NII | 314.84x | 840000 | 264464000 |
| Retail | 79.96x | 1960000 | 156729600 |
| Employee | 0x | 0 | 0 |
| Total | 83.71x | 5913600 | 495056000 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Ramdevbaba Solvent Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 21.51 | 13.71 | 11.40 |
| EBITDA | 23.74 | 18.87 | 15.65 |
| PAT | 14.69 | 6.66 | 5.76 |
| Total Assets | 99.05 | 75.83 | 59.24 |
| Share Capital | 4.59 | 4.59 | 4.59 |
| Total Borrowings | 91.96 | 58.96 | 30.03 |
| Operating Activities (Net Cash) | 16.92 | 11.82 | 10.01 |
| Investing Activities (Net Cash) | -27.54 | -11.74 | 0.15 |
| Financing Activities (Net Cash) | 91.96 | 58.96 | 30.03 |
| Net Cashflow | 0.36 | 0.20 | 0.57 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Ramdevbaba Solvent Ltd
Ramdevbaba Solvent Limited was originally incorporated as `Ramdevbaba Solvent Private Limited as a private limited company under Companies Act, 1956, pursuant to a certificate of incorporation dated November 25, 2008 issued by the Registrar of Companies, Maharashtra at Mumbai. Thereafter, the Company was converted into a public limited company pursuant to a resolution passed by its shareholders at an extra-ordinary general meeting held on December 12, 2023 and a fresh certificate of incorporation dated December 27, 2023 was issued by the Registrar of Companies, Maharashtra at Mumbai consequent upon conversion, recording the change in the name of the Company from `Ramdevbaba Solvent Private Limited' to `Ramdevbaba Solvent Limited'. The Company's Corporate Identity Number is U01112MH2008PLC188449.
Over the years, agricultural production in India has consistently recorded higher output. An abundant supply of raw materials, increase in demand for food products and incentives offered by the Government has impacted food processing sector positively. During the 5 years ending 2020-21, Food Processing sector has been growing at an average annual growth rate of around 8.38 per cent as compared to around 4.87 per cent in Agriculture & allied sector (at 2011-12 prices). Indian food processing market size reached US$ 307.2 trillion in 2022 and is expected to reach US$ 547.3 trillion by 2028, exhibiting a growth rate (CAGR) of 9.5% during 2023-2028. As per the 4th Advance Estimates of Ministry of Agriculture released on 17.08.2022 for 2021-22, estimated Oilseeds production is about 376.97 lakh MT and estimated production of oils from these oilseeds in 2021-22 comes to about 89.66 lakh MT. The total availability of edible oils from primary as well as secondary sources is estimated at 115.71 lakh MT. Rice bran oil is extracted from the hard outer brown layer of rice after chaff or rice husk. Rice bran is the principal raw material used for the production of rice bran oil. Rice bran is a byproduct of the rice-milling process and is found in abundance in rice producing areas. Solvent extraction processing of oilseeds including soyabean, oilcakes and rice bran during OY 2022-23 is provisionally reported at 265 lakh tonnes compared to 250 lakh tonnes during the previous year. The overall production of solvent extracted oils during OY 2022-23 from rice bran, oil cakes, minor oilseeds and soybean is reported at 40.8 lakh tonnes as against 38.5 lakh tonnes during 2021-22.
Peer Comparison:
- BCL Industries Ltd
- Gokul Refoils and Solvent Ltd
- Gujarat Ambuja Exports Ltd
- Kriti Nutrients Ltd
- Shri Venkatesh Refineries Ltd
Ramdevbaba Solvent Ltd IPO Key Points
Strengths
- The Company's manufacturing facilities are situated near Nagpur, Maharashtra giving it the strategic advantage to supply and distribute Rice Bran Oil in Maharashtra and DORB across various states in India.
- The ease of availability of rice bran in abundance, which is its main raw material, ensures the smooth operations of its Manufacturing Facilities, and production and sale of its finished products.
- The Company has integrated operations involving the extraction of oil from bran and refining of the extracted oil enabling it to meet the time, cost efficiency, quality and quantity requirements.
- The Company has arrangements with other FMCG companies for supply of rice bran oil.
- The Company has over the years focused immensely on stringent quality control for its products.
Risk
- Its inability to comply with repayment and other covenants in the financing agreements or otherwise meet its debt servicing obligations could adversely affect the company's business, financial condition, cash flows and credit rating.
- Its business is dependent the demand of the company products in Maharashtra, Andhra Pradesh and Uttar Pradesh.
- The company is dependent upon certain suppliers for the supply of raw materials required for manufacturing its products and majority of them are from the states of Maharashtra, Madhya Pradesh, Chhattisgarh and Gujarat. In the event of shortage of raw materials with these suppliers or if the company is unable to procure raw materials from alternative sources and in timely manner, its may be unable to meet production schedules for the company products and may not be able to deliver its products to customers, which may adversely affect the company customer relations and reputation.
Strategy
- Setting up of a corn de-oiling manufacturing facility.
- Addition of `Blended Oil' as an additional product category.
- Enhance its brand recall to increase its market share.
- Increasing operational efficiency.
- Entering new product categories like cleaning products.
- The Company's manufacturing facilities are situated near Nagpur, Maharashtra giving it the strategic advantage to supply and distribute Rice Bran Oil in Maharashtra and DORB across various states in India.
- The ease of availability of rice bran in abundance, which is its main raw material, ensures the smooth operations of its Manufacturing Facilities, and production and sale of its finished products.
- The Company has integrated operations involving the extraction of oil from bran and refining of the extracted oil enabling it to meet the time, cost efficiency, quality and quantity requirements.
- The Company has arrangements with other FMCG companies for supply of rice bran oil.
- The Company has over the years focused immensely on stringent quality control for its products.
How To Apply for Ramdevbaba Solvent Ltd Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
