Thaai Casting IPO is a book built issue of Rs 47.20 crores. The issue is entirely a fresh issue of 61.3 lakh shares.
Thaai Casting IPO opens for subscription on February 15, 2024 and closes on February 19, 2024. The allotment for the Thaai Casting IPO is expected to be finalized on Tuesday, February 20, 2024. Thaai Casting IPO will list on NSE SME with tentative listing date fixed as Thursday, February 22, 2024.
Thaai Casting IPO price band is set at ₹73 to ₹77 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹123,200. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹246,400.
GYR Capital Advisors Private Limited is the book running lead manager of the Thaai Casting IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market maker for Thaai Casting IPO are Giriraj Stock Broking and Commodity Mandi.
Refer to Thaai Casting IPO RHP for detailed information.
Thaai Casting IPO Details
| IPO Date | February 15, 2024 to February 19, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹73 to ₹77 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 6,129,600 shares (aggregating up to ₹47.20 Cr) |
| Fresh Issue | 6,129,600 shares (aggregating up to ₹47.20 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,000,000 |
| Share holding post issue | 23,129,600 |
| Market Maker portion | 347,200 shares Giriraj Stock Broking Commodity Mandi |
Thaai Casting 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 |
Thaai Casting IPO Anchor Investors Details
Thaai Casting IPO raises Rs 13.35 crore from anchor investors. Thaai Casting IPO Anchor bid date is February 14, 2024.
| Bid Date | February 14, 2024 |
| Shares Offered | 1,734,400 |
| Anchor Portion Size (In Cr.) | 13.35 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 21, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 20, 2024 |
Thaai Casting IPO Timeline (Tentative Schedule)
Thaai Casting IPO opens on February 15, 2024, and closes on February 19, 2024.
| IPO Open Date | Thursday, February 15, 2024 |
| IPO Close Date | Monday, February 19, 2024 |
| Basis of Allotment | Tuesday, February 20, 2024 |
| Initiation of Refunds | Wednesday, February 21, 2024 |
| Credit of Shares to Demat | Wednesday, February 21, 2024 |
| Listing Date | Thursday, February 22, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 19, 2024 |
Thaai Casting 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 | ₹123,200 |
| Retail (Max) | 1 | 1600 | ₹123,200 |
| HNI (Min) | 2 | 3,200 | ₹246,400 |
| Lot Size Calculator | |||
Thaai Casting IPO Promoter Holding
The promoters of the company are Sriramulu Anandan, Anandan Shevaani and Chinraj Venkatesan
| Share Holding Pre Issue | 86.50% |
| Share Holding Post Issue |
About Thaai Casting Ltd
Incorporated in June 2010, Thai Casting Limited is an automotive ancillary company specializing in High-Pressure Die Casting, as well as the precision Machining of both Ferrous and Non-Ferrous materials and Induction heating and quenching. The company has three business verticals:-
- High Pressure Die Casting
- Machining of Ferrous and Non-Ferrous
- Induction Heating and Quenching
Thaai Casting is an IATF 16949: 2016 certified company.
The company offers a wide range of automotive components, such as engine mounting support brackets, transmission mounts, fork shift and housing, steering wheel armatures, electrical connectors, YFG base frames (both right-hand and left-hand drive side), housing, top cover, and more. The manufacturing unit is located in No Tiruvallur, Tamil Nadu, India,
The company has a die-making facility for new product development according to the required specifications. The die maintenance process is done with utmost care to ensure the dies run continuously and have a longer lifespan.
As of September 30, 2023, the company employs 132 people in various departments.
Thaai Casting Ltd Financial Information (Restated Standalone)
Thaai Casting Ltd’s revenue increased by 27.84% and profit after tax (PAT) rose by 336.49% 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 | 8,188.82 | 5,498.52 | 3,752.29 | 2,379.19 |
| Revenue | 2,888.93 | 4,911.64 | 3,841.94 | 2,048.70 |
| Profit After Tax | 557.12 | 503.71 | 115.40 | 40.33 |
| Net Worth | 2,320.78 | 1,617.31 | 894.84 | 473.46 |
| Reserves and Surplus | 620.78 | |||
| Total Borrowing | 4,410.07 | 2,985.10 | 2,351.15 | 1,313.51 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Thaai Casting IPO is Rs 178.1 Cr.
| KPI | Values |
|---|---|
| ROCE | 13% |
| Debt/Equity | 1.85 |
| RoNW | 40.10% |
| P/BV | 8.1 |
Check Thaai Casting IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.96 | 4.13 |
| P/E (x) | 25.99 | 18.65 |
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 (Thaai Casting IPO Objectives)
The objects of the Issue are: –
Thaai Casting Ltd Contact Details
Thaai Casting Ltd
No. A-20 SIPCOT Industrial Park
7th Cross Street,
Pillaipakkam, Tiruvallur,-602105
Phone: +91 79046 50127
Email: cs@thaaicasting.com
Website: https://www.thaaicasting.com/
Thaai Casting IPO Registrar
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: https://www.purvashare.com/queries/