Ramdevbaba Solvent, a company specializing in manufacturing and distributing physically refined rice bran oil, has announced its IPO details. The price band for the IPO has been established at ₹80 to ₹85 per share, with a face value of ₹10 each. Subscription for the IPO will commence on April 15 and conclude on April 18. The lot size for the IPO consists of 1,600 shares.
According to the company’s red herring prospectus (RHP), Ramdevbaba Solvent produces and distributes rice bran oil to various FMCG firms such as Empire Spices and Foods Ltd, Marico Limited, and Mother Dairy Fruit & Vegetable Private Limited. Additionally, it sells rice bran oil under the exclusive names “Tulsi” and “Sehat” through thirty-eight distributors, catering to shops in Maharashtra.
The IPO will comprise a fresh issue of 59,13,600 equity shares, totaling approximately ₹50.27 crore, with no offer-for-sale component. The proceeds from the IPO will be utilized for purposes such as establishing a new manufacturing facility, repaying outstanding debt, funding working capital needs, and general corporate purposes.
The allocation of equity shares for the IPO includes portions for various investor categories, including QIBs, NIIs, RIIs, and market makers.
Ramdevbaba Solvent’s managing director, Nilesh Suresh Mohata, expressed optimism about the IPO’s potential benefits in terms of corporate recognition, brand awareness, and debt reduction.
As for the grey market premium (GMP), shares were reportedly trading at the issue price of ₹85, indicating no significant premium or discount.
*Note: Investors are advised to conduct thorough research or seek advice from certified experts before making investment decisions.*
