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30 April 2024

Thaai Casting Limited IPO

Thaai Casting Ltd is a distinguished automotive ancillary company with IATF 16949:2016 certification, specializing in High Pressure Die Casting, as well as the precision Machining of both Ferrous and Non-Ferrous materials and Induction heating and quenching. Founded by Mr. Sriramulu Anandan, a seasoned professional with extensive expertise in Pressure Die Casting and Machining Processes, their business model is firmly rooted in a B2B approach, catering to leading entities in the automotive components sector. Their product portfolio encompasses a diverse range of Automobile components, including Engine Mounting Support Brackets, Transmission Mounts, Fork Shift and Housing, Armature – Steering Wheel, Electrical Connectors, YFG Base Frame (Right-hand drive side/Left-hand drive side), Housing, Top Cover, and more.

Thaai Casting IPO is a book-built issue of Rs 47.20 crores. The issue is entirely a fresh issue of 61.3 lakh shares. Thaai Casting IPO price band is set at ₹73 to ₹77 per share. The minimum lot size for an application is 1600 Shares GYR Capital Advisors Private Limited is the book running lead manager of the Thaai Casting IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market makers for Thaai Casting IPO are Giriraj Stock Broking and Commodity Mandi.

Thaai Casting IPO Overview

Detail	Description
IPO Date	February 15, 2024 to February 20, 2024
Listing Date	February 23, 2024
Face Value	₹10 per share
Price Band	₹73 to ₹77 per share
Lot Size	1600 Shares
Total Issue Size	6,129,600 shares (aggregating up to ₹47.20 Cr)
Fresh Issue	6,129,600 shares (aggregating up to ₹47.20 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Share holding pre issue	17,000,000
Share holding post issue	23,129,600
Market Maker portion	347,200 shares Giriraj Stock Broking

Thaai Casting IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Thursday, February 15, 2024
IPO Close Date	Tuesday, February 20, 2024
Basis of Allotment	Wednesday, February 21, 2024
Initiation of Refunds	Wednesday, February 21, 2024
Credit of Shares to Demat	Thursday, February 22, 2024
Listing Date	Friday, February 23, 2024
Cut-off time for UPI mandate confirmation	5 PM on February 20, 2024

Thaai Casting IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	1600	₹123,200
Retail (Max)	1	1600	₹123,200
HNI (Min)	2	3,200	₹246,400

Thaai Casting IPO Reservation

Investor Category	Shares Offered
Anchor Investor Shares Offered	1,734,400 (28.30%)
Market Maker Shares Offered	347,200 (5.66%)
QIB Shares Offered	1,156,800 (18.87%)
NII (HNI) Shares Offered	867,200 (14.15%)
Retail Shares Offered	2,024,000 (33.02%)
Total Shares Offered	6,129,600 (100%)

Thaai Casting IPO Promoter Holding

Share Holding Pre Issue	86.50%
Share Holding Post Issue

Thaai Casting IPO Anchor Investors Details

Bid Date	February 15, 2024
Shares Offered	1,734,400
Anchor Portion Size (In Cr.)	13.35
Anchor lock-in period end date for 50% shares (30 Days)	March 21, 2024
Anchor lock-in period end date for remaining shares (90 Days)	May 20, 2024

Company & Financials

The company was incorporated in June 2010, Thai Casting Limited is an automotive ancillary company specializing in High-Pressure Die Casting, as well as the precision Machining of both Ferrous and Non-Ferrous materials and Induction heating and quenching. In recognition of its commitment to environmental sustainability, the company received the MSIL-GREEN Certification from Maruti Suzuki India Limited in 2021. The company was originally formed as a Partnership Firm under the Partnership Act, 1932 and was converted from Partnership firm into a public limited company as per the provision of Part I Chapter XXI of the Companies Act, 2013 with the name and style of "Thaai Casting Limited" and received a Certificate of Incorporation from the Registrar of Companies, Tamil-Nadu and Andaman situated at Chennai dated June 12, 2023.TCL's product portfolio encompasses a diverse range of Automobile components, including Engine Mounting Support Brackets, Transmission Mounts, Fork Shift and Housing, Armature - Steering Wheel, Electrical Connectors, YFG Base Frame (Right-hand drive side/Left-hand drive side), Housing, Top Cover, and more.

Thaai Casting Limited Financial Information

Period Ended	31 Oct 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	14,638.25	5,498.52	3,752.29	2,379.19
Revenue	4,848.91	4,911.64	3,841.94	2,048.70
Profit After Tax	860.93	503.71	115.40	40.33
Net Worth	4,116.94	1,617.31	894.84	473.46
Reserves and Surplus	620.78
Total Borrowing	7,830.03	2,985.10	2,351.15	1,313.51
Amount in ₹ Lakhs

Key Performance Indicator

KPI	Values
ROCE	13%
Debt/Equity	1.85
RoNW	40.10%
P/BV	8.1

	Pre IPO	Post IPO
EPS (Rs)	2.96	6.38
P/E (x)	25.99	12.07

Objectives of Thaai Casting IPO

The objectives of the Issue are: -

● To meet the Capital Expenditure.
● To meet the General Corporate Purposes.
● To meet the Issue Expenses.

Thaai Casting Limited IPO Review

TCL is a distinguished automotive ancillary company and has posted growth in its top and bottom lines for the reported periods. The management is confident of improving the trends established so far. Based on FY24 annualized earnings, the issue appears fully priced. Investors may park funds for the medium to long term rewards. The closing date is extended by a day to February 20, 2024 due to Bank Holiday on February 19, 2024.

FAQs for Thaai Casting IPO

What is Thaai Casting Limited IPO 2024?

Thaai Casting Limited IPO 2024 is a book-built issue of Rs 47.20 crores. The issue is entirely a fresh issue of 61.3 lakh equity shares. The price band is decided at Rs 73 to 77 per share. The minimum lot size of this application for the retail category is 1600 shares. Thaai Casting Limited IPO will list on NSE SME and listing date fixed on Thursday, February 22, 2024.
When will Thaai Casting Ltd IPO open for subscription?

The IPO subscription window is from February 15, 2024, to February 20, 2024.
What Is The Allotment Date Of The Thaai Castings IPO?

The allotment date of Thaai Castings IPO is February 21, 2024.
What Is The Price Band Of Thaai Castings IPO?

The price band of the company is INR 73-77 per share.
What Is The Listing Date Of The Thaai Castings IPO?

The listing date of the Thaai Castings IPO is February 23, 2024.
What is the financial performance of Thaai Casting Limited?

Company’s revenue increased by 27.84% and profit after tax increased by 336.49% between the financial year ending with March 31, 2023 and March 31, 2022.