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Rajputana Biodiesel IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details
Rajputana Biodiesel, specializes in manufacturing and supplying biofuels and by-products like glycerine and fatty acids to cater to diverse industry needs. Its 4,000 sq. m. facility in Phulera, Rajasthan, operates with an approved production capacity of 30 KLPD and an installed capacity of 24 KLPD.
Rajputana Biodiesel, an Book Built Issue amounting
to ₹24.70 Crores, consisting entirely an Fresh Issue of 19 Lakh
Shares. The subscription period for the Rajputana Biodiesel IPO opens
on November 26, 2024, and closes on November 28, 2024. The allotment is
expected to be finalized on or about Friday, November 29, 2024, and
the shares will be listed on the NSE SME with a tentative
listing date set on or about Tuesday, December 3, 2024.
The Share price of Rajputana
Biodiesel IPO is set at ₹123 to ₹130 per equity
share. The Market Capitalisation of the Rajputana Biodiesel Limited
at IPO price of ₹130 per equity share will be ₹91.44 Crores. The lot
size of the IPO is 1000 shares. Retail investors are required to invest a
minimum of ₹1,30,000, while the minimum investment for High-Net-Worth
Individuals (HNIs) is 2 lots (2,000 shares), amounting to ₹2,60,000.
GYR Capital Advisors Private Limited is the book-running lead
manager while Maashitla Securities Private Limited is the
registrar for the Issue. Giriraj Stock Broking is
Market Maker for the Rajputana Biodiesel IPO.
Rajputana Biodiesel Limited IPO
GMP Today
The Grey Market Premium of Rajputana Biodiesel Limited IPO
is expected to be ₹30 (23%) based on the financial performance of the
company. No real trading is done on the basis of Grey Market Premium
that's why no real discovery of price can be done before the listing of shares
on the stock exchange. The Grey Market Premium totally depends upon the Demand
and Supply of the shares of the company in unorganized manner which is not
recommended. The Grey Market Premium is mentioned for educational and
informational purposes only.
Rajputana Biodiesel Limited IPO Live
Subscription Status Today: Real-Time Updates
As of 07:00 PM on 28 November 2024, the Rajputana Biodiesel IPO live subscription status shows that the IPO subscribed 645.81 times on its Final day of subscription period. Check the Rajputana Biodiesel IPO Live Subscription Status today at NSE.
Rajputana Biodiesel Limited IPO
Anchor Investors Report
Rajputana Biodiesel has raised ₹6.70 Crores from Anchor Investors
at a price of ₹130 per shares in consultation of the Book Running Lead
Managers. The company allocated 5,15,000 equity shares to
the Anchor Investors. CheckFull List of Rajputana Biodiesel Anchor Investor List.
Note:- Equity Shares allotted to
Anchor Investors (if any) are allotted from Qualified Institutional Buyers
(QIBs) reservation portion.
Note:- The Number of shares offered shown IPO
subscription section table is calculated at the lower end of the price band and
Number of shares calculated in IPO details table section is calculated at upper
end of the price band in case of Book Building Issue, so there can be
difference. This is because we assume shares will be issued by the company at
upper band as Anchor Investors also subscribe at upper band and shares will be
issued at lower band only if in case of undersubscription of IPO.
Note:- Market Maker portion (if any) are not shown
separately in subscription table and included in NIIs reservation portion.
Rajputana Biodiesel Limited IPO Allotment
Date - Step by Step Guide to Check Allotment Status Online
Rajputana Biodiesel IPO allotment date is 29 November,
2024, Wednesday. Rajputana Biodiesel IPO Allotment will be out
on 29th November 2024 and will be live on Registrar Website from the
allotment date. CheckRajputana Biodiesel IPO Allotment Status here. Here's how you can
check the allotment status:
- Navigate to the IPO allotment status page.
- Select Rajputana Biodiesel Limited IPO from
the dropdown list of IPOs.
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their
allotment status and proceed accordingly with their investments.
Objectives of Rajputana Biodiesel Limited IPO
Rajputana Biodiesel Issue Proceeds from the Fresh Issue will be
utilized towards the following objects :
1. ₹420 Lakhs is required for the Loan To Subsidiary (Nirvaanraj Energy Private Limited
(NEPL)) For The Expansion Of Existing Unit Of Our
Subsidiary.
2. ₹1,220 Lakhs is required for Working Capital Requirements.
3. Remaining for General Corporate Purposes & Issue Expenses.
Refer to Rajputana Biodiesel Limited RHP for more details about the Company.
Check latest IPO information, latest IPO news, Upcoming IPO News, IPO Details, subscription status, IPO GMP and IPO Review of Upcoming IPO, Active IPO, and Listed IPOs at one place. Check latest IPO Review & analysis, Live IPO GMP today, Live IPO Subscription Status Today, Share Price, Financial Information and other details before applying in the IPO.
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Rajputana Biodiesel Limited Day Wise IPO GMP Trend
| GMP Date | Issue Price | Expected Listing Price | GMP | Last Updated |
|---|
Rajputana Biodiesel IPO Details
| Market Capitalization | |
| IPO Date | November 26, 2024 to November 28, 2024 |
| Listing Date | December 03, 2024 |
| Face Value | ₹10 |
| Price Band | ₹123 to ₹130 per share |
| Issue Price | ₹123 to ₹130 per share |
| Employee Discount | |
| Lot Size | 1000 Equity Shares |
| Total Issue Size | 19,00,000 Equity Shares (aggregating up to ₹24.70 Cr) |
| Fresh Issue | 19,00,000 Equity Shares (aggregating up to ₹24.70 Cr) |
| Offer for Sale | NIL |
| Issue Type | Book Built Issue |
| Listing At | NSE SME |
| Share holding pre issue | 51,33,500 |
| Share holding post issue | 70,33,500 |
| Rating |
Rajputana Biodiesel IPO Anchor Investors Details
| Bid Date | N/A |
| Shares Offered | N/A |
| Anchor Portion Size (In Cr.) | N/A |
| Anchor lock-in period end date for 50% shares (30 Days) | N/A |
| Anchor lock-in period end date for remaining shares (90 Days) | N/A |
Rajputana Biodiesel IPO Timeline (Tentative Schedule)
| IPO Open Date | Tuesday, November 26, 2024 |
| IPO Close Date | Thursday, November 28, 2024 |
| Basis of Allotment | Friday, November 29, 2024 |
| Initiation of Refunds | Friday, November 29, 2024 |
| Credit of Shares to Demat | Monday, December 2, 2024 |
| Listing Date | Tuesday, December 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 28, 2024 |
Rajputana Biodiesel IPO Reservation
| Investor Category | Shares Offered | Reservation % |
|---|---|---|
| QIB Portion | 8,79,500 | Not More than 50% of the Issue |
| Non-Institutional Investor Portion | 2,63,850 | Not Less than 15% of the Issue |
| Retail Shares Offered | 6,15,650 | Not Less than 35% of the Issue |
| Market Maker Portion | 1,41,000 | - |
| Anchor Investor | 5,15,000 | Allotted from QIB Portion |
Rajputana Biodiesel IPO Promoter Holding
| Share Holding Pre Issue | 90% |
| Share Holding Post Issue | 65.69% |
Rajputana Biodiesel IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹1,30,000 |
| Retail (Max) | 1 | 1,000 | ₹1,30,000 |
| HNI (Min) | 2 | 2,000 | ₹2,60,000 |
Rajputana Biodiesel IPO Subscription Status
| Investor Category | Shares Offered | Shares Bid For | No of Times Subscribed | Last Upadeted |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 364,500 | 6,11,97,000 | 167.89x | 2024-11-26 10:00:45 |
| Non Institutional Investors(NIIS) | 4,04,850 | 36,35,62,000 | 898.02x | 2024-11-26 10:01:36 |
| Retail Individual Investors (RIIs) | 6,15,650 | 46,96,90,000 | 762.92x | 2024-11-26 10:02:06 |
| Total | 13,85,000 | 89,44,49,000 | 645.81x | 2024-11-26 10:02:33 |
About Rajputana Biodiesel Limited
Business Overview
Rajputana Biodiesel Limited (RBL), incorporated on November 10, 2016, as Rajputana Biodiesel Private Limited, transitioned to a public limited company under the Companies Act, 2013. The company specializes in manufacturing and supplying biofuels, including biodiesel, and by-products such as glycerine and fatty acids, catering to diverse industry needs.
Operating from a 4,000 sq. m. facility in Phulera, Rajasthan, RBL has an approved production capacity of 30 KLPD and an installed capacity of 24 KLPD. The company employs a state-of-the-art, flexible manufacturing setup that accommodates multiple feedstocks, enabling it to adapt swiftly to market demands. RBL is actively exploring export opportunities to enhance its market reach and contribute to the renewable energy sector.
Industry Analysis
India’s renewable energy sector presents significant growth potential, driven by the government’s target of 20% ethanol blending in petrol and 5% biodiesel blending in diesel by 2030. Biofuels, being renewable, reduce carbon emissions and environmental impact, providing an appealing alternative to conventional fossil fuels.
With programs like the National Mission on Biodiesel and a growing emphasis on sustainability, the industry is poised for expansion. However, challenges include varying state-level policies, electrification trends, and the need for advanced infrastructure. RBL is well-positioned to capitalize on these opportunities by leveraging its strong manufacturing capabilities and commitment to innovation.
Business Strengths
- Diversified Revenue Streams: RBL generates revenue from biodiesel and its valuable by-products, reducing dependency on a single source.
- Owned Manufacturing Facility: The company operates its production unit, ensuring control over quality and efficiency.
- Flexible Operations: The ability to handle multiple feedstocks allows RBL to adapt to changing market conditions.
- Experienced Team: A skilled management team and workforce support efficient operations and strategic planning.
- Strong PSU Partnerships: Long-standing relationships with government Public Sector Undertakings provide revenue stability and credibility.
Business Strategies
- Expanding Domestic Production: RBL aims to boost biodiesel output by investing in sustainable local feedstocks, process upgrades, and new facilities, reducing reliance on imports.
- Commitment to Renewable Energy: By adopting advanced technologies and collaborating with industry leaders, the company seeks to enhance biofuel production and innovation.
- Energy Efficiency Initiatives: Implementing energy audits, equipment upgrades, and process optimizations to reduce costs and minimize environmental impact.
- Exploring Export Markets: The company is strategically evaluating opportunities to expand its biodiesel exports, targeting regions with high demand.
Risk Factors and Concerns
- Regulatory Dependence: Changes in government policies and non-compliance with regulations could adversely impact operations.
- Licenses and Approvals: The business depends on obtaining and maintaining statutory permits and licenses. Delays or non-compliance may disrupt operations.
- Competitive Landscape: The absence of entry barriers in the biofuel industry could lead to increased competition from organized and unorganized players.
- Raw Material Supply: Availability, quality, and pricing of raw materials are critical for consistent production. Fluctuations or delays may affect business outcomes.
- Market Dynamics: Resistance to adopting biofuels and reliance on fossil fuels by some users could hinder growth.
As of July 31, 2024, the total number of employees of the company stand at 30. The Bankers of the Rajputana Biodiesel Limited is Kotak Mahindra Bank Limited.
Rajputana Biodiesel Limited Financial Information ()
Amount in (₹ in Lakhs)
| Period Ended | July 31, 2024 | Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 |
|---|---|---|---|---|
| Reserve of Surplus | 1,050.46 | 800.87 | -7.01 | -131.42 |
| Total Assets | 4,626.00 | 3,995.16 | 2,354.06 | 1,746.07 |
| Total Borrowings | 1,989.23 | 1,914.19 | 887.12 | 1,063.67 |
| Fixed Assets | 359.85 | 386.21 | 376.37 | 419.32 |
| Cash | 279.36 | 371.85 | 76.23 | 16.75 |
| Cash flow from operating activities | ||||
| Cash flows from investing activities | ||||
| Cash flow from financing activities | ||||
| Net Borrowing | 1,709.87 | 1,542.34 | 810.89 | 1,046.92 |
| Revenue | 2,779.18 | 5,367.51 | 2,354.06 | 1,746.07 |
| EBITDA | 421.91 | 766.91 | 350.66 | 161.70 |
| PAT | 259.59 | 452.43 | 168.83 | 19.97 |
| PAT Margin | ||||
| EPS | 5.06 | 9.16 | 3.87 | 5.33 |
Note 1:- RoE calculation in KPI is based on 31st Mar, 2024 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2024 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2024 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price Post Issue, given in Financial Express.
Key Performance Indicator
| KPI | Values |
|---|---|
| EPS Pre IPO (Rs.) | ₹9.16 |
| EPS Post IPO (Rs.) | ₹6.43 |
| Adjusted 12M EPS Post IPO (Rs.) | |
| P/E Pre IPO | 14.19x |
| P/E Post IPO | 20.21x |
| Adjusted 12M P/E Post IPO | |
| ROE | 22.19% |
| ROCE | 22.19% |
| P/BV | 2.26 |
| Debt/Equity | 1.46 |
| RoNW | 34.43% |
| EBITDA Margin | |
| PAT Margin |
Rajputana Biodiesel Limited IPO Peer Comparison
| Company Name | EPS | P/E (x) | ROE | ROCE | P/BV | Debt/Equity | RoNW (%) |
|---|---|---|---|---|---|---|---|
| Rajputana Biodiesel Limited | 6.43 | 20.21x | 34.43% | 22.19% | 2.26 | 1.46 | 34.43% |
| Kotyark Industries Limited | ₹28.50 | 36.3x | 20.60% | 23.90% | 6.90 | 0.63 | 11.56% |
Rajputana Biodiesel Limited Contact Details
RAJPUTANA BIODIESEL LIMITED
Jaipuria Mansion Panch Batti, M.I.
Road, Jaipur, Rajasthan, India, 302001.
Contact Person : Mr. Rohit Kumar
Gauttam
Company Secretary
and Compliance
Officer
Telephone : +91 9509222333
Email ID : cs@rajputanabiodiesel.com
Website : https://rajputanabiodiesel.com/
Rajputana Biodiesel IPO Registrar and Lead Manager(s)
Registrar : Maashitla Securities Private Limited
Telephone : +91 11-45121795
Contact Person : Mr. Mukul Agarwal
Email ID : ipo@maashitla.com
Website : https://maashitla.com/
Lead Manager : GYR Capital Advisors Private Limited
Telephone : +91 8777564648
Contact Person : Mr. Mohit Baid
Email ID : info@gyrcapitaladvisors.com
Website : https://gyrcapitaladvisors.com/
Rajputana Biodiesel IPO Review
Rajputana Biodiesel IPO Review
Rajputana Biodiesel Limited (RBL) specializes in manufacturing and supplying biofuels, including biodiesel, and by-products such as glycerine and fatty acids, catering to diverse industry needs. Operating from a 4,000 sq. m. facility in Phulera, Rajasthan, RBL has an approved production capacity of 30 KLPD and an installed capacity of 24 KLPD. The company employs a state-of-the-art, flexible manufacturing setup that accommodates multiple feedstocks, enabling it to adapt swiftly to market demands. RBL is actively exploring export opportunities to enhance its market reach and contribute to the renewable energy sector.
The Managing Director and one of the Promoters, Mr. Sarthak Soni has over 7 years of experience in the Biodiesel Industry . Mr. Sudeep Soni, one of the
Promoters, Chairman and Executive Director, has over 24 years in Real estate industry, simultaneous experience of 23 years in
Gems and Jewellery and about 7 years in Biodiesel industry.
Financially, Revenue for the quarter ended July 31, 2024, Fiscal 2024, Fiscal 2023 and Fiscal 2022 was ₹ 2779.18 Lakhs, ₹ 5367.51 Lakhs, ₹ 2354.06 Lakhs and ₹1746.07 Lakhs respectively. The EBITDA for the quarter ended July 31, 2024, Fiscal 2024, Fiscal 2023 and Fiscal 2022 were ₹ 421.91 Lakhs, ₹ 766.91 Lakhs, ₹ 350.66 Lakhs and ₹ 161.70 Lakhs respectively. The Profit after Tax for the quarter ended July 31, 2024 and Fiscal 2024, Fiscal 2023 and Fiscal 2022 were ₹ 259.59 Lakhs, ₹ 452.43 Lakhs, ₹ 168.83 Lakhs and ₹ 19.97 Lakhs respectively. This indicates steady growth in financial performance.
For the Rajputana Biodiesel IPO, the
company is issuing shares at a pre-issue EPS of ₹9.16 and a post-issue EPS of
₹6.43. The pre-issue P/E ratio is 14.19x, while the post-issue P/E ratio is
20.21x against Industry P/E ratio is 31x. The company's ROCE for FY24
is 22.19% and RoNW for FY24 is 34.43%. These metrics suggest that the IPO
is fairly priced.
The Grey Market Premium (GMP) of Rajputana Biodiesel showing
potential listing gains of 23%. Given the company's financial
performance and the valuation of the IPO, we recommend only Risky Investors to Apply to
the Rajputana Biodiesel Limited IPO only for
Listing gain, while safe traders can Avoid.
Disclaimer: The information provided in this IPO review
is for educational and informational purposes only and should not be construed
as financial advice or an offer to buy or sell securities. The review must not
be used as a singular basis of any investment decision. The views herein are of
a general nature and do not consider the risk appetite or the particular
circumstances of an individual investor; readers are requested to take
professional advice before investing. Nothing in this document should be
construed as investment advice. The content is based on publicly available
information and market perceptions as of the date of publication and is subject
to change. Neither the author nor the website is responsible for any losses or
damages arising from the use of this information.
About the Author
CA Abhay Kumar (Also
known as CA Abhay Varn) is a qualified Chartered Accountant by profession and
cleared CA at age 21. He is a SEBI Registered Research Analyst with
Registration Number - INH300008465. He Possesses 8+ years of experience in the
Stock Market Field and has also worked in Big CA firms during the training
period. He is good at Technical analysis and Fundamental Analysis and uses both
Technical and Fundamental analysis along with five other important factors that
affect the movement of the Market namely Global Market Analysis, Upcoming Event
Analysis, Institutional Money Analysis, Derivative Data Analysis, and Emotions
and Sentiment of Traders and Investors in his Framework called - Technical
Fundamental GUIDE to find the winning Trades.
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