Storage Technologies & Automation IPO (Racks & Rollers IPO) Review

 
Racks & Rollers IPO Review

IPO Open Date: April 30, 2024

IPO Close Date: May 3, 2024

IPO Price: ₹73 to ₹78 per share

Lot Size: 1600 Shares

Listing: May 08, 2024

Racks & Rollers is scheduled to hit the market on April 30, 2024 and close on May 03, 2024. Racks & Rollers plans to raise around ₹29.95 Cr through an IPO with a sale of up to 3,840,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.

Founded in October 2010, “Storage Technologies and Automation Limited specializes in manufacturing and installing metal storage racks, automated warehouses, and various storage solutions. Catering to industries such as oil & gas, automotive, aerospace, food & beverages, pharmaceuticals, textiles, retail, and FMCG, the company offers ISO 9001:2015 certified storage solutions. With manufacturing facilities spanning approximately 56,250 square feet in Bangalore and an additional 20,000 square feet of storage space, the company has successfully completed over 2500 projects and served more than 900 clients globally.

With a strong global presence in over 30 countries, Storage Technologies and Automation Limited employs a total of 166 permanent staff and 94 contracted employees as of October 31, 2023. The company's commitment to quality and efficiency has established its reputation as a leading provider of storage solutions worldwide, ensuring reliable and innovative services to meet the diverse needs of its clientele.

Racks & Rollers



Racks & Rollers IPO Details

Racks & Rollers IPO opens on April 30, 2024, and closes on May 03, 2024. The Listing date for Racks & Rollers IPO is on May 08, 2024. The price band for IPO is ₹73 to ₹78 per share and lot size of 1600 Shares.

IPO DateApril 30, 2024 to May 03, 2024
Listing DateMay 08, 2024
Price₹73 to ₹78 per share
Lot Size1600 Shares
Issue Size₹29.95 Cr
Face Value₹10 per share

Racks & Rollers IPO Tentative Timetable

Racks & Rollers opening date is April 30, 2024 and close date is May 03, 2024. The IPO allotment date is May 06, 2024. The refund initiation of IPO is on May 07, 2024. The credit of shares in demat account is on May 07, 2024. The listing date is on May 08, 2024.

EventDate
IPO OpeningApril 30, 2024
IPO ClosingMay 03, 2024
IPO Allotment DateMay 06, 2024
Refund InitiationMay 07, 2024
Shares Credit to DematMay 07, 2024
Lisiting DateMay 08, 2024

Racks & Rollers IPO Lot Size

Lot Size of this IPO is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹124,800).

CategoryLotsSharesAmount
Retail(Minimum)11600₹124,800
Retail(Maximum)11600₹124,800
HNI (Minimum)23200₹249,600

Racks & Rollers IPO Promoter Holding

Pre Issue Share Holding100.00%
Post Issue Share Holding70.09%

Racks & Rollers IPO Review

Storage Technologies & Automation Ltd. (STAL) is set to launch its maiden IPO, offering 3,840,000 equity shares at a price band of Rs. 73.00 – Rs. 78.00 per share. With the aim to mobilize Rs. 29.95 crore, the IPO opens for subscription on April 30, 2024. STAL's focus on innovation and operational efficiency shines through its commitment to quality as an ISO 9001:2015 certified company.

The company's financial performance has seen a significant boost in profits for the 7-month period of FY24, raising questions about sustainability. While the post-IPO market cap is projected at Rs. 100.15 crore, investors should carefully consider the pricing metrics. The company's order book value of Rs. 21+ crore as of April 01, 2024, indicates a positive outlook for potential investors looking at medium-term investments. STAL's customer-centric approach and diverse range of storage solutions position it well in the competitive market landscape.

Investors need to weigh the company's past financial inconsistencies against its recent profitability surge before making investment decisions. The IPO's lead manager, Oneview Corporate Advisors Pvt. Ltd., brings experience to the table, but the aggressive pricing based on FY23 earnings raises concerns. STAL's dedication to providing efficient storage solutions across various industries reflects its potential for growth, making it an option worth considering for informed investors seeking medium-term opportunities in the market.

Racks & Rollers IPO Subscription Status (Bidding Details)

Table not found

Racks & Rollers 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

Racks & Rollers IPO FAQs

What is Racks & Rollers IPO?

Racks & Rollers is issuing 3,840,000 equity shares with a face value of ₹10 each, totaling up to ₹29.95 Cr. The shares are being offered at a price of ₹73 to ₹78 each, with a minimum order quantity of 1600 shares.

Integrated Registry Management Services Private Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Racks & Rollers IPO will open?

Racks & Rollers will open on April 30, 2024 for QIB, NII, and Retail Investors.

When Racks & Rollers IPO will end?

Racks & Rollers will end on May 03, 2024.

What is Racks & Rollers IPO Size?

Racks & Rollers IPO size is 29.95 Cr.

What is Racks & Rollers IPO Price Band?

Racks & Rollers price band is ₹73 to ₹78 per share.

What is the Racks & Rollers IPO Allotment Date?

Racks & Rollers allotment date is May 06, 2024.

What is the Racks & Rollers IPO Listing Date?

Racks & Rollers listing date is May 08, 2024. The IPO is to be listed on BSE and NSE.

How to Racks & Rollers IPO through Zerodha?

To apply for the IPO “Racks & Rollers” 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 Racks & Rollers IPO through Upstox?

To apply for the IPO “Racks & Rollers” 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 Racks & Rollers IPO Allotment Status?

For Racks & Rollers IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Racks & Rollers IPO GMP?

You can check out here: Racks & Rollers IPO GMP

Sharing Is Caring:
Avatar of Ishika Agarwal
About Ishika Agarwal

Ishika Agarwal is a seasoned financial writer with a strong background in the stock market and investment sector. Ishika has a passion for analyzing and interpreting complex financial data to provide valuable insights to her readers.

Leave a Comment