Formally incorporated in 2022 only, Gayatri Rubbers and Chemicals Limited is engaged in the manufacturing and trading of rubber profiles, aluminum rubber profiles, automobile rubber profiles, rubber compounds, various kinds of rubber components, and clear PVC profiles.
These rubber products are then supplied to dealers including Banco, Nalco, and Jindal in the aluminum sector and the agents of Motherson Sumi in addition to state transport in the automobile sector. The rubber compounds are used by various manufacturers and OEMs of rubber products.
Broadly, Gayatri Rubbers and Chemicals is a manufacturer of:
- Rubber profiles
- Rubber compounds
- Auto glass rubber
- Sponge rubber for heavy industries
The promoter of the company Mr. Manoj Kumar Aggarwal possesses over 2 decades of experience in the industry and the company is nurturing under his direct guidance.
Gayatri Rubbers undertakes its manufacturing operations from the manufacturing unit located in Ballabhgarh spread in total area of 3 floors each having an area of approximately 4500 sq. ft.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 597.65 | 656.91 | 6.75 | 23.56 | 7.87 | 0 |
| 31-Mar-21 | 556.56 | 1563.08 | 14.53 | 171.52 | 22.39 | 0 |
| 31-Mar-22 | 497.77 | 1673.73 | 81.01 | 155.41 | 103.4 | 263.4 |
| 31-Dec-22 | 898.47 | 1664.84 | 54.81 | 462.19 | 41.19 | 78.97 |
| Amount in ₹ Lakhs |
Objects of the Issue
The company intends to utilize the proceeds of the Issue to meet the following objects: –
- To meet the working capital requirements of the Company;
- General Corporate Purpose; and
- To meet the Issue Expenses
Gayatri Rubbers and Chemicals IPO Details
| IPO Date | Jan 25, 2023 to Jan 30, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹30 per share |
| Lot Size | 4000 Shares |
| Issue Size | 1,528,000 shares of ₹10 (aggregating up to ₹4.58 Cr) |
| Fresh Issue | 1,528,000 shares of ₹10 (aggregating up to ₹4.58 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| NII (HNI) Shares Offered | 50% of the Net Offer |
| Retail Shares Offered | 50% of the Net Offer |
| Company Promoters | Mr. Shilp Chotai, Mr. Utsav Chotai and Mr. Manoj Kumar Aggarwal are the promoters of the company. |
Gayatri Rubbers and Chemicals IPO Tentative Timetable
Gayatri Rubbers and Chemicals IPO opens on Jan 25, 2023, and closes on Jan 30, 2023. The Gayatri Rubbers and Chemicals IPO bid date is from Jan 25, 2023 10.00 A.M. to Jan 30, 2023 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Jan 25, 2023 |
| Closing Date | Jan 30, 2023 |
| Basis of Allotment | Feb 2, 2023 |
| Initiation of Refunds | Feb 3, 2023 |
| Credit of Shares to Demat | Feb 6, 2023 |
| Listing Date | Feb 7, 2023 |
Gayatri Rubbers and Chemicals IPO Lot Size
The Gayatri Rubbers and Chemicals IPO lot size is 4000 shares. A retail-individual investor can apply for up to 1 lots (4000 shares or ₹120,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹120,000 |
| Retail (Max) | 1 | 4000 | ₹120,000 |
| HNI (Min) | 2 | 8,000 | ₹240,000 |
Gayatri Rubbers and Chemicals IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.37% |
Gayatri Rubbers and Chemicals IPO Review
The boost in margins for the last 21 months of working is a bit surprising and raises concern. It is engaged in a highly competitive and fragmented segment. Based on its FY23 earnings, the issue is aggressively priced. Small equity base post listing indicates longer gestation for migration to the main board. There is no harm in ignoring this pricey bet. Read detail review…
Gayatri Rubbers and Chemicals IPO Subscription Status (Bidding Detail)
The Gayatri Rubbers and Chemicals IPO is subscribed 3.01 times on Jan 27, 2023 11:58:00 AM. The public issue subscribed 4.07 times in the retail category, times in the QIB category, and 1.94 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) |
|---|---|
| NII | 1.94 |
| Retail | 4.07 |
| Total | 3.01 |
Gayatri Rubbers and Chemicals IPO Prospectus
Company Contact Information
Gayatri Rubbers and Chemicals Limited
Plot No. 11, Gali No. 3,
Opp. Beri Ka Bagh, Malerna Road Ballabhgarh,
Faridabad – 121004
Phone: +91 9766935377
Email: sales@gayatrirubberchemicals.com
Website: https://gayatrirubberchemicals.com/
Gayatri Rubbers and Chemicals IPO Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/