Ramdevbaba Solvent is a company that makes, distributes, markets, and sells rice bran oil, known as “Tulsi” and “Sehat,” to FMCG companies like Empire Spices and Foods Ltd, Marico Limited, and Mother Dairy Fruit & Vegetable Private Limited. They also work with 38 distributors to supply these oils to various shops in Maharashtra. Rice bran oil is extracted from the outer brown layer of rice.
For the Ramdevbaba Solvent IPO, the allocation of shares is as follows: QIB Anchor Portion: up to 16,80,000 shares; Net Qualified Institutional Buyers (QIB): up to 11,20,000 shares; Non-Institutional Investors (NII): up to 8,40,000 shares; Retail Individual Investors (RII): up to 19,60,000 shares; and Market Maker: up to 3,13,600 shares.
Comparing to similar companies, the company’s profit after tax (PAT) increased by 97.25%, and revenue rose by 20.35% between March 31, 2022, and March 31, 2023.
The Ramdevbaba Solvent 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 each. The company plans to use the proceeds to build a new manufacturing facility, repay outstanding debt, cover working capital needs, and for general corporate purposes.
The Book Running Lead Manager for the IPO is Choice Capital Advisors Private Ltd, and the registrar is Bigshare Services Private Limited.
Managing Director Nilesh Suresh Mohata mentioned that the company will benefit from this IPO by increasing both its corporate recognition and its brand awareness. Repaying debt will also improve the balance sheet. According to Mohata, these actions will have several benefits, increase value, and solidify their overall position.
As for the IPO Grey Market Premium (GMP), it is currently at ₹0, indicating that shares are trading at their issue price of ₹85 with no premium or discount in the grey market. This trend is expected to continue until the listing day. Grey market premium reflects investors’ willingness to pay more than the issue price.
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