Rudra Gas Enterprise IPO: Igniting Investor Optimism with Strong Subscription and Growth Prospects

Get detailed insights into the Rudra Gas Enterprise IPO, covering subscription dates, issue price, lot size, and key financial indicators. Explore the growth prospects of this infrastructure-focused company and make informed investment decisions.

Introduction

Rudra Gas Enterprise Limited is set to make its mark with the Rudra Gas Enterprise IPO, a fixed-price issue amounting to Rs 14.16 crores. This IPO consists of an entirely fresh issue of 2.248 million shares, providing investors with a unique opportunity to be part of the company’s growth journey.

Key IPO Dates

The Rudra Gas Enterprise IPO subscription window opens on February 8, 2024, and closes on February 12, 2024. The allotment process is expected to be finalized by Tuesday, February 13, 2024. The IPO is slated to list on BSE SME with a tentative listing date of Thursday, February 15, 2024.

Pricing Insights

Priced at ₹63 per share, the Rudra Gas Enterprise IPO requires a minimum lot size of 2000 shares for an application. Retail investors need a minimum investment of ₹126,000, while HNI investors have a minimum lot size of 2 lots (4,000 shares), amounting to ₹252,000.

Key Players

Beeline Capital Advisors Pvt Ltd takes the lead as the book running lead manager for the Rudra Gas Enterprise IPO, ensuring a smooth process. The registrar for the issue is Link Intime India Private Ltd, and the market maker is Spread X Securities.

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Rudra Gas Enterprise IPO in Numbers

• IPO Date: February 8, 2024, to February 12, 2024
• Listing Date: [To be Announced]
• Face Value: ₹10 per share
• Price: ₹63 per share
• Lot Size: 2000 Shares
• Total Issue Size: 2,248,000 shares (₹14.16 Cr)
  • Fresh Issue: 2,248,000 shares (₹14.16 Cr)
• Issue Type: Fixed Price Issue IPO
• Listing At: BSE SME
• Shareholding Pre-Issue: 6,090,000
• Shareholding Post-Issue: 8,338,000

Rudra Gas Enterprise IPO Reservation

• Retail: 50% of the Net Offer
• Other: 50% of the Net Offer

Rudra Gas Enterprise IPO Timeline

• IPO Open Date: Thursday, February 8, 2024
• IPO Close Date: Monday, February 12, 2024
• Basis of Allotment: Tuesday, February 13, 2024
• Initiation of Refunds: Wednesday, February 14, 2024
• Credit of Shares to Demat: Wednesday, February 14, 2024
• Listing Date: Thursday, February 15, 2024
• Cut-off time for UPI mandate confirmation: 5 PM on February 12, 2024

Rudra Gas Enterprise IPO Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereof. Refer to the table below for the minimum and maximum investments by retail investors and HNI in terms of shares and amounts.

Application	Lots	Shares	Amount
Retail (Min)	1	2000	₹126,000
Retail (Max)	1	2000	₹126,000
HNI (Min)	2	4000	₹252,000

Rudra Gas Enterprise IPO Promoter Holding

The promoters, including Mrs. Manjulaben Sureshbhai Patel, Mr. Kush Sureshbhai Patel, and Mr. Kashyap Sureshbhai Patel, currently hold 99.99% of the company, which is expected to be diluted to 73.03% post the IPO.

About Rudra Gas Enterprise Limited

Founded in 2015, Rudra Gas Enterprise Limited is actively involved in gas distribution network projects, fiber cable networks, construction equipment, and vehicle rental. The company excels in pipeline construction, civil works, and the operation and maintenance of pipeline networks in city gas distribution.

Financial Snapshot

Between March 31, 2022, and March 31, 2023, Rudra Gas Enterprise experienced a 12.76% increase in revenue and a significant 96.21% rise in profit after tax. As of October 31, 2023, the market capitalization of the company stands at Rs 52.53 Cr.

Key Performance Indicators (KPIs)

• ROE: 57%
• ROCE: 25%
• Debt/Equity: 2.18
• RoNW: 44.09%
• P/BV: 4.14

Objects of the Issue

The proceeds from the fresh issue will be utilized for meeting working capital requirements and general corporate purposes.

Conclusion

Rudra Gas Enterprise IPO presents an enticing opportunity for investors to participate in the infrastructure sector’s growth. With a robust financial performance and a diversified business portfolio, the company is poised for success. Stay updated with the IPO subscription trends for a comprehensive investment decision.