Racks & Rollers IPO is a book built issue of Rs 29.95 crores. The issue is entirely a fresh issue of 38.4 lakh shares.
Racks & Rollers IPO opens for subscription on April 30, 2024 and closes on May 3, 2024. The allotment for the Racks & Rollers IPO is expected to be finalized on Monday, May 6, 2024. Racks & Rollers IPO will list on BSE SME with tentative listing date fixed as Wednesday, May 8, 2024.
Racks & Rollers IPO price band is set at ₹73 to ₹78 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹124,800. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹249,600.
Racks & Rollers IPO Details
| IPO Date | April 30, 2024 to May 3, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹73 to ₹78 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,840,000 shares (aggregating up to ₹29.95 Cr) |
| Fresh Issue | 3,840,000 shares (aggregating up to ₹29.95 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 9,000,000 |
| Share holding post issue | 12,840,000 |
Racks & Rollers IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Racks & Rollers IPO Timeline (Tentative Schedule)
Racks & Rollers IPO opens on April 30, 2024, and closes on May 3, 2024.
| IPO Open Date | Tuesday, April 30, 2024 |
| IPO Close Date | Friday, May 3, 2024 |
| Basis of Allotment | Monday, May 6, 2024 |
| Initiation of Refunds | Tuesday, May 7, 2024 |
| Credit of Shares to Demat | Tuesday, May 7, 2024 |
| Listing Date | Wednesday, May 8, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 3, 2024 |
Racks & Rollers IPO Lot Size
Investors can bid for a minimum of 1600 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 | 1600 | ₹124,800 |
| Retail (Max) | 1 | 1600 | ₹124,800 |
| HNI (Min) | 2 | 3,200 | ₹249,600 |
| Lot Size Calculator | |||
Racks & Rollers IPO Promoter Holding
The promoters of the company, are Mr. Khasim Sait, Mr. Mohammad Arif Abdul Gaffar Dor, Mr. Hanif A Khatri, Mr. Syed Azeem, Mr. Afzal Hussain and Mr. Nuumaan Khasim
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue |
About Storage Technologies & Automation Ltd
Founded in October 2010, “Storage Technologies and Automation Limited is engaged in storage racking systems.
The company manufactures and installs metal storage racks, automated warehouses, and other storage solutions. The company provides storage solutions for various industries, including oil & gas, automotive, aerospace, food & beverages, pharmaceuticals, textiles, retail, and FMCG.
The company is an ISO 9001:2015 certified storage solution manufacturing company.
The company’s manufacturing process is supported by approximately 56,250 square feet of space in Bangalore and 20,000 square feet of storage space.
To date, the company has executed more than 2500 projects and has served more than 900 customers worldwide.
The company has a presence in over 30 countries across the globe.
As of October 31, 2023, the company has a total of 166 permanent employees and 94 contracted employees.
Storage Technologies & Automation Ltd Financial Information (Restated Consolidated)
Storage Technologies & Automation Ltd’s revenue increased by 16.42% and profit after tax (PAT) rose by 335.72% 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 | 6,375.77 | 4,004.01 | 3,567.70 | 3,113.04 |
| Revenue | 5,317.09 | 8,137.12 | 6,989.72 | 4,852.38 |
| Profit After Tax | 358.91 | 48.30 | -20.49 | 118.42 |
| Net Worth | 953.52 | 594.61 | 546.31 | 566.81 |
| Reserves and Surplus | 653.52 | 294.61 | 246.31 | 466.81 |
| Total Borrowing | 1,632.53 | 931.63 | 871.10 | 347.48 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
KPI as of October 31, 2023.
| KPI | Values |
|---|---|
| ROE | 46.37% |
| ROCE | 22.52% |
| RoNW | 37.64% |
| PAT Margin (%) | 6.78 |
Check Racks & Rollers IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.96 |
Objects of the Issue (Racks & Rollers IPO Objectives)
The company intend to utilize the proceeds of the Issue to meet the following objects: –
- To meet Working Capital requirements
- General Corporate Purpose
Storage Technologies & Automation Ltd Contact Details
Storage Technologies & Automation Ltd
No 10, Survey No 21/6A
21/7A, 21/7B and 21/8 Singanayakanahalli,
Yelahanka, Bangalore, Bangalore-560064,
Phone: +91 98444 86300
Email: cs@racksandrollers.com
Website: https://racksandrollers.com/
Racks & Rollers IPO Registrar
Integrated Registry Management Services Private Limited
Phone: + 91 44 2814 0801 to 803
Email: giri@integratedindia.in
Website: https://www.integratedindia.in/corporate-container.aspx?cpi