Ramdevbaba Solvent IPO Subscriptions Open

Ramdevbaba Solvent IPO Subscriptions Open/Representative image @Pexels

VoM News Desk | April 15, 2024 | 05:20 PM IST | Breaking News | Follow on Google News

Ramdevbaba Solvent IPO Subscriptions Open

Ramdevbaba Solvent IPO Subscriptions Open

The subscription period for the Ramdevbaba Solvent IPO commenced today, April 15, and will run until Thursday, April 18. Priced between ₹80 to ₹85 per share, with a face value of ₹10, the lot size for the IPO is set at 1,600 shares.

Business Focus and Equity Allocation

Ramdevbaba Solvent specializes in producing, distributing, and selling rice bran oil, catering to FMCG companies such as Mother Dairy, Empire Spices, and Marico. The IPO allocates equity shares as follows: 16,80,000 to QIB Anchor Portion, 11,20,000 to Net QIBs, 8,40,000 to Non-Institutional Investors, 19,60,000 to Retail Individual Investors, and 3,13,600 to Market Makers.

Subscription Status and Financials

On day 1, the IPO subscription stands at 4.51 times, with retail and NII portions subscribed 5.48 and 8.10 times, respectively. The IPO, valued at approximately ₹50.27 crore, includes a fresh issue of 59,13,600 equity shares. The net proceeds will support general corporate objectives, working capital, facility construction, and debt repayment.

VoM News Desk

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