October 19, 2023 / 06:12 PM IST
The Rajgor Castor Derivatives IPO has been subscribed 16.73 times up to now, with bids coming in for 11.45 crore shares against a proposal dimension of 68.49 lakh devices. Retail traders uncover 26.35 times, excessive gain-price other folks bought 10.32 times and qualified institutional investors picked up 10.79 times their respective disbursed quota.
The firm objectives to raise Rs 47.81 crore from the general public provide, which closes for subscription on October 20. It comprises a unique command of 88.95 lakh shares price Rs 44.48 crore and a proposal-for-sale of 6.66 lakh shares price Rs 3.33 crore by promoters.
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The tiny and medium endeavor (SME) IPO’s tag band has been fixed at Rs 47-50. Earlier than the general public provide, the firm raised Rs 13.56 crore from seven anchor traders. NAV Capital VCC - NAV Capital Rising Star Fund, Neomile Development Fund - Sequence I, Moneywise Monetary Services and products, Rajasthan World Securities, LRSD Securities, VPK World Ventures and Nexus World Alternatives Fund took allotment within the anchor e book.
Brijeshkumar Vasantlal Rajgor, Vasantkumar S Rajgor and Maheshkumar S Rajgor are the promoters of the firm. The promoter and promoter neighborhood shareholding stood at 67.26 percent and 32.74 percent sooner than the command and their stakes will attain down to 40.71 percent and 19.31 percent after the IPO.
Rajgor Castor Derivatives reported decent earnings growth within the past fiscal years, with its gain profit rising sharply from Rs 0.52 crore in FY22 to Rs 5.54 crore in FY23, when income jumped to Rs 428.78 crore from Rs 39.67 crore.
Furthermore Read: IRM Energy IPO Day 2: Subject subscribed 1.95 times up to now; retail fragment booked 2 times
The gain proceeds from the IPO will likely be aged to fund working capital requirements and overall company capabilities. The e book-working lead manager for the command is Beeline Capital Advisors, whereas Link Intime India is the registrar and Spread X Securities is the market maker.
The Rajgor household, which is within the industry of manufacturing castor oil, castor oil cake, and excessive-protein oil cake alongside with buying and selling in agro-commodity, follows the B2B industry model.
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