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01 May 2024

Rudra Gas Enterprise Limited IPO

Rudra Gas Ent. Ltd. is a young organization venturing into several business verticals that demand skilled engineering, technical and managerial skills along with a fine flair of marketing and liaison to deal with the cores of the business. Their strong foothold and primary area of work is with the City Gas Distribution, Telecom, Power Distribution, Enterprise Data Solution, Real Estate and Import & Export institutions. Rudra Gas Enterprise IPO is a fixed price issue of Rs 14.16 crores. The issue is entirely a fresh issue of 22.48 lakh shares.

Rudra Gas Enterprise IPO bidding started from February 8, 2024 and ended on February 12, 2024. Rudra Gas Enterprise IPO price is ₹63 per share. The minimum lot size for an application is 2000 Shares. Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Rudra Gas Enterprise IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Rudra Gas Enterprise IPO is Spread X Securities.

Rudra Gas Enterprise IPO Overview

Detail	Description
IPO Date	February 8, 2024 to February 12, 2024
Listing Date	February 15, 2024
Face Value	₹10 per share
Price	₹63 per share
Lot Size	2000 Shares
Total Issue Size	2,248,000 shares (aggregating up to ₹14.16 Cr)
Fresh Issue	2,248,000 shares (aggregating up to ₹14.16 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	BSE SME
Share holding pre issue	6,090,000
Share holding post issue	8,338,000
Market Maker portion	116,000 shares Spread X Securities

Rudra Gas Enterprise IPO Timeline (Tentative Schedule)

Detail	Description
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

Application	Lots	Shares	Amount
Retail (Min)	1	2000	₹126,000
Retail (Max)	1	2000	₹126,000
HNI (Min)	2	4,000	₹252,000

Rudra Gas Enterprise IPO Reservation

Investor Category	Shares Offered
Anchor Investor Shares Offered	-
Market Maker Shares Offered	116,000 (5.16%)
Other Shares Offered	1,066,000 (47.42%)
Retail Shares Offered	1,066,000 (47.42%)
Total Shares Offered	2,248,000 (100%)

Rudra Gas Enterprise IPO Promoter Holding

Share Holding Pre Issue	99.99%
Share Holding Post Issue	73.03%

Company & Financials

In 2012, the firm was incorporated to beat the rising competition in this highly specialized segment and take an edge over the industry. Its services ensure the safe and efficient transportation of vital resources such as Compressed Natural Gas ("CNG") and Piped Natural Gas ("PNG"). In the Fiber cable network sector, the company offers services of installations of optical Fiber cable and maintenance thereof. Its main focus is on delivering projects in a timely manner while upholding the highest standards of safety. The company provides services in the fields of pipeline construction, civil works, and operation and maintenance of pipeline networks in city gas distribution. The company also provides services for the installation of fiber optic cables and their maintenance. Over the years, it has successfully executed more than 50 projects and its major completed projects quantify to approximately Rs. 127.08 cr.

Rudra Gas Enterprise Limited Financial Information

Period Ended	31 Oct 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	4,345.39	3,380.56	2,804.92	1,960.50
Revenue	3,446.81	4,957.02	4,395.95	2,816.96
Profit After Tax	247.41	352.02	179.41	127.05
Net Worth	1,149.10	798.50	446.48	267.07
Reserves and Surplus	540.10	773.50	421.48	242.07
Total Borrowing	1,990.15	1,738.34	1,379.98	1,008.22

Key Performance Indicator

KPI	Values
ROE	57%
ROCE	25%
Debt/Equity	2.18
RoNW	44.09%
P/BV	4.14

	Pre IPO	Post IPO
EPS (Rs)	5.78	5.09
P/E (x)	10.9	12.39

Objectives of Rudra Gas Enterprise IPO

The Issue Proceeds from the Fresh Issue will be utilized towards the following objectives:

1. To Meet Working Capital Requirements
2. General Corporate Purposes

Rudra Gas Enterprise IPO Review

The company is in the infrastructure segment with a major focus on gas pipelines and fiber cable networks. It also does the renting of construction machinery and vehicles. It marked steady growth in its top and bottom lines for the reported periods. The company has orders on hand worth Rs. 250 cr. approx. Based on FY24 earnings, the issue appears fully priced. Investors may park funds for the medium to long term rewards.

FAQs for Rudra Gas Enterprise IPO

What Is The Size Of The Rudra Gas Enterprise Limited IPO?

Rudra Gas IPO consists of a fresh issue of 22, 48,000 lakh shares worth INR 1,416.24 lakhs. The company seeks funds for working capital and general corporate purposes.
What Is The Price Band Of The Rudra Gas Enterprise Limited IPO?

The company is going to issue shares at INR 63 per share.
What Is The Allotment Date Of The Rudra Gas Enterprise Limited IPO?

The allotment date of the Rudra Gas Enterprise Limited IPO is February 13, 2024.
What Is The Listing Date Of The Rudra Gas Enterprise Limited IPO?

The listing date of the Rudra Gas Enterprise Limited IPO is February 15, 2024.
Rudra Gas Enterprise Limited list on which exchanges?

Rudra Gas Enterprise Limited IPO will be listed on BSE SME.