Rudra Gas Enterprise IPO is a fixed price issue of Rs 14.16 crores. The issue is entirely a fresh issue of 22.48 lakh shares.
Rudra Gas Enterprise IPO opens for subscription on February 8, 2024 and closes on February 12, 2024. The allotment for the Rudra Gas Enterprise IPO is expected to be finalized on Tuesday, February 13, 2024. Rudra Gas Enterprise IPO will list on BSE SME with tentative listing date fixed as Thursday, February 15, 2024.
Rudra Gas Enterprise IPO price is ₹63 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹126,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹252,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Rudra Gas Enterprise IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Rudra Gas Enterprise IPO is Spread X Securities.
Refer to Rudra Gas Enterprise IPO RHP for detailed information.
Rudra Gas Enterprise IPO Details
| IPO Date | February 8, 2024 to February 12, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹63 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 2,248,000 shares (aggregating up to ₹14.16 Cr) |
| Fresh Issue | 2,248,000 shares (aggregating up to ₹14.16 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 6,090,000 |
| Share holding post issue | 8,338,000 |
| Market Maker portion | 116,000 shares Spread X Securities |
Rudra Gas Enterprise IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
Rudra Gas Enterprise IPO Timeline (Tentative Schedule)
Rudra Gas Enterprise IPO opens on February 8, 2024, and closes on February 12, 2024.
| IPO Open Date | Thursday, February 8, 2024 |
| IPO Close Date | Monday, February 12, 2024 |
| Basis of Allotment | Tuesday, February 13, 2024 |
| Initiation of Refunds | Wednesday, February 14, 2024 |
| Credit of Shares to Demat | Wednesday, February 14, 2024 |
| Listing Date | Thursday, February 15, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 12, 2024 |
Rudra Gas Enterprise IPO Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹126,000 |
| Retail (Max) | 1 | 2000 | ₹126,000 |
| HNI (Min) | 2 | 4,000 | ₹252,000 |
| Lot Size Calculator | |||
Rudra Gas Enterprise IPO Promoter Holding
Mrs. Manjulaben Sureshbhai Patel, Mr. Kush Sureshbhai Patel and Mr. Kashyap Sureshbhai Patel are the promoters of the company.
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue | 73.03% |
About Rudra Gas Enterprise Limited
Rudra Gas Enterprise Limited was founded in 2015 and is active in gas distribution network projects, fiber cable networks, construction equipment, and vehicle rental.
The company provides services in the fields of pipeline construction, civil works, and operation and maintenance of pipeline networks in city gas distribution. The company also provides services for the installation of fiber optic cables and their maintenance.
The company has three business verticals:
- Gas pipeline projects: These include the laying of pipelines for the distribution of city gas network and the construction of associated facilities such as CNG (compressed natural gas) stations, the construction, installation, testing, and commissioning of underground pipelines, maintenance, and repair facilities, the construction and installation of gas stations and their physical infrastructure such as pipelines, valves and stations required to carry out the works in accordance with the scope and specifications of the project. The company also provides comprehensive operation and maintenance services to city gas distribution companies(CGD).
- Fiber optic cable projects: This involves the development of special cables for the transmission of data using light signals.
- Rental of construction machinery and vehicles: This includes the rental of construction machinery and vehicles to subcontractors for specific projects.
The company’s customers include companies in the city gas distribution and telecommunications sectors, both in the public and private sectors.
As of October 31, 2023, the company had 512 permanent employees on the payroll of the company.
Rudra Gas Enterprise Limited Financial Information (Restated Standalone)
Rudra Gas Enterprise Limited’s revenue increased by 12.76% and profit after tax (PAT) rose by 96.21% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Oct 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 4,345.39 | 3,380.56 | 2,804.92 | 1,960.50 |
| Revenue | 3,446.81 | 4,957.02 | 4,395.95 | 2,816.96 |
| Profit After Tax | 247.41 | 352.02 | 179.41 | 127.05 |
| Net Worth | 1,149.10 | 798.50 | 446.48 | 267.07 |
| Reserves and Surplus | 540.10 | 773.50 | 421.48 | 242.07 |
| Total Borrowing | 1,990.15 | 1,738.34 | 1,379.98 | 1,008.22 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Rudra Gas Enterprise IPO is Rs 52.53 Cr.
| KPI | Values |
|---|---|
| ROE | 57% |
| ROCE | 25% |
| Debt/Equity | 2.18 |
| RoNW | 44.09% |
| P/BV | 4.14 |
Check Rudra Gas Enterprise IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.78 | 5.09 |
| P/E (x) | 10.9 | 12.39 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of October 31, 2023 that is available in RHP.
Objects of the Issue (Rudra Gas Enterprise IPO Objectives)
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
- To Meet Working Capital Requirements
- General Corporate Purposes
Rudra Gas Enterprise IPO Review (Apply)
[Dilip Davda] The company is in infrastructure segment with major focus on gas pipelines and fiber cable network. It also does renting of constructions machinery and vehicles. It marked steady growth in its top and bottom lines for the reported periods. The company has orders on hand worth Rs. 250 cr. approx. Based on FY24 earnings, the issue appears fully priced. Investors may park funds for the medium to long term rewards. Read detail review…Rudra Gas Enterprise Limited Contact Details
Rudra Gas Enterprise Limited
B-702, The Capital Building,
Science City Road, Opp. Hetarth Party Plot,
Sola, Ahmedabad-380060
Phone: +91 98751 39472
Email: cs@rudragasenterprise.com
Website: https://www.rudragasenterprise.com/
Rudra Gas Enterprise IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: rudragas@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html