Rappid Valves (India) is scheduled to hit the market on September 23, 2024 and close on September 25, 2024. Rappid Valves (India) plans to raise around ₹30.41 Cr through an IPO with a sale of up to 1,369,800 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Rappid Valves (India) Limited was established in 2002 and specializes in making various types of valves. Their product range includes ball, gate, globe, butterfly, check, double block, filter, and marine valves. These valves are produced using both ferrous and non-ferrous materials and are available in sizes from 15mm to 600mm to cater to different needs. The company’s manufacturing unit is well-equipped with a variety of machines, including CNC machines, VMCs, and other testing and welding equipment, ensuring a smooth production process. They also have several quality certifications like ISO 9001:2015, 14001:2015, and ISO 45001:2018.
The company has several strengths that contribute to its success. It has experienced management staff and focuses on creating innovative products. They have strong knowledge of the marine industry and are continuously upgrading their manufacturing capabilities. Rappid Valves is also expanding its reach by setting up sales offices in cities like Dahej, Ahmedabad, Pune, and Noida. As of June 30, 2024, the company employed 47 people at its manufacturing plant and registered office.
Rappid Valves (India) IPO Details
Rappid Valves (India) IPO opens on September 23, 2024, and closes on September 25, 2024. The Listing date for Rappid Valves (India) IPO is on September 30, 2024. The price band for IPO is ₹210 to ₹222 per share and lot size of 600 Shares.
| IPO Date | September 23, 2024 to September 25, 2024 |
| Listing Date | September 30, 2024 |
| Price | ₹210 to ₹222 per share |
| Lot Size | 600 Shares |
| Issue Size | ₹30.41 Cr |
| Face Value | ₹10 per share |
Rappid Valves (India) IPO Tentative Timetable
Rappid Valves (India) opening date is September 23, 2024 and close date is September 25, 2024. The IPO allotment date is September 26, 2024. Therefund initiation of IPO is on September 27, 2024. The credit of shares in demat account is on September 27, 2024. The listing date is on September 30, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 23, 2024 |
| IPO Closing | September 25, 2024 |
| IPO Allotment Date | September 26, 2024 |
| Refund Initiation | September 27, 2024 |
| Shares Credit to Demat | September 27, 2024 |
| Lisiting Date | September 30, 2024 |
Rappid Valves (India) IPO Lot Size
Lot Size of this IPO is 600 shares. A retail-individual investor can apply for up to 1 lots (600 shares or ₹133,200).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 600 | ₹133,200 |
| Retail(Maximum) | 1 | 600 | ₹133,200 |
| HNI (Minimum) | 2 | 1200 | ₹266,400 |
Rappid Valves (India) IPO Promoter Holding
| Pre Issue Share Holding | 69.46% |
| Post Issue Share Holding | 51.13% |
Rappid Valves (India) IPO Review
The company is launching its first book-building IPO, offering 1,369,800 equity shares with a face value of Rs. 10 each. They aim to raise Rs. 30.41 crores at the upper price limit.
On the financial performance front, for the last four fiscals, the company has posted a total income/net profit of Rs. 12.15 cr. / Rs. 0.29 cr. (FY22), Rs. 16.43 cr. / Rs. 0.46 cr. (FY23), Rs. 36.60 cr. / Rs. 4.13 cr. (FY24). The quantum jump in financial performance for the pre-IPO year i.e. FY24 raises the eyebrows and concern over sustainability of the margins.
For the last three fiscals, it has reported an average EPS of Rs. 1.20 and an average RoNW of 2.17%. The issue is priced at a P/BV of 6.39 based on its NAV of Rs. 34.72 as of March 31, 2024, and at a P/BV of 2.94 based on its post-IPO NAV of 75.63 per share (at the upper cap).
If we attribute FY24 super earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a P/E of 27.89. Based on FY23 earnings, the P/E stands at 252.27. Thus the issue relatively appears aggressively priced. Super performance in a pre-IPO year raises eyebrows and concern over its sustainability, as the company is operating in a highly competitive and fragmented segment.
The company reported PAT margins of 2.39% (FY22), 2.78% (FY23), 11.32% (FY24), and RoE margins of – (82.09) %, 31.69%, 53.88% for the referred periods, respectively.
This is the 34th issue from Shreni Shares in the last three financial years, including the current one. Out of the last 10 listings, 1 started at the same price as its issue price, while the others opened with a premium ranging from 4.88% to 141.94% on their listing date.
The company makes valve solutions and reported very high profits for the financial year 2024, which is the year before its IPO. This has raised some questions about whether these profits can continue in the future. The company operates in a very competitive and crowded market. Based on its strong earnings in FY24, its stock seems to be priced about right. After the IPO, there will be a small amount of shares available, suggesting that it might take a long time to see significant growth. Investors who are well-informed might consider investing a moderate amount of money for the long term.
Rappid Valves (India) IPO Subscription Status (Bidding Details)
Table not foundRappid Valves (India) IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Rappid Valves (India) IPO FAQs
What is Rappid Valves (India) IPO?
Rappid Valves (India) is issuing 1,369,800 equity shares with a face value of ₹10 each, totaling up to ₹30.41 Cr. The shares are being offered at a price of ₹210 to ₹222 each, with a minimum order quantity of 600 shares.
Link Intime India Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Rappid Valves (India) IPO will open?
Rappid Valves (India) will open on September 23, 2024 for QIB, NII, and Retail Investors.
When Rappid Valves (India) IPO will end?
Rappid Valves (India) will end on September 25, 2024.
What is Rappid Valves (India) IPO Size?
Rappid Valves (India) IPO size is ₹30.41 Cr.
What is Rappid Valves (India) IPO Price Band?
Rappid Valves (India) price band is ₹210 to ₹222 per share.
What is Rappid Valves (India) IPO Allotment Date?
Rappid Valves (India) allotment date is September 26, 2024.
What is Rappid Valves (India) IPO Listing Date?
Rappid Valves (India) listing date is September 30, 2024. The IPO is to be listed on BSE and NSE.
How to Rappid Valves (India) IPO through Zerodha?
To apply for the IPO “Rappid Valves (India)” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Rappid Valves (India) IPO through Upstox?
To apply for the IPO “Rappid Valves (India)” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Rappid Valves (India) IPO Allotment Status?
For Rappid Valves (India) IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Rappid Valves (India) IPO GMP?
You can check out here: Rappid Valves (India) IPO GMP. Check all IPO GMP here.