Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
IPO News

| More

Racks & Rollers - Storage Technologies and Automation Limited's SME Initial Public Offering to open on Tuesday, April 30, 2024

Posted On: 2024-04-30 08:32:00 (Time Zone: IST)


Bengaluru-based Racks & Rollers - Storage Technologies and Automation Limited is engaged in a storage racking system, with specialising in design, manufacturing, installation services of metal storage racks, automated warehouses and other storage solutions, has fixed the price band of ?73/- to ?78/- per Equity Share of face value ?10/- each for its maiden initial public offer. The Initial Public Offering ("IPO" or "Offer") of the Company will open on Tuesday, April 30, 2024, for subscription and close on Friday, May 03, 2024. Investors can bid for a minimum of 1600 Equity Shares and in multiples of 1600 Equity Shares thereafter.

The issue consists of a fresh issue of up to 3,840,000 equity shares with no offer for sale (OFS) component.

The Issue is being made through the Book Building Process, wherein not more than 50% of the Net Issue shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Net Issue shall be available for allocation to Non-Institutional Investors and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Investors.

Of the total net proceeds to be raised through the issue, Rs 27.50 crore will be used to meet working capital requirements and general corporate expenses.

Racks & Rollers - Storage Technologies and Automation Limited was incorporated in the year 2010 by its promoter Mr. Mohammed Arif and Mr. Khasim Sait with experience of around, 13 years and 13 years in the storage racking system industry.

The company's commitment to delivering innovative and efficient solutions for diverse warehousing needs demonstrates their commitment in its wide range of products and services. These solutions cater to various industries such as oil & gas, automotive components & aerospace, food & beverages, cold storage, pharmaceuticals, textiles, retail, FMCG, and others, each with unique storage and logistical requirements.

The Bengaluru-based company operates with a customer-centric approach, driven by a focus on continuous innovation and operational efficiency. It offers a comprehensive range of display and storage racks designed for commercial and industrial purposes, utilizing high-quality raw materials to ensure durability and optimum strength in the finished products. These raw materials include different grades of mild steel (hot rolled coils, cold rolled coils, galvanized steel coils, PPGI coils, pipes, and structural sections), powder coatings for powder coating, epoxy, enamel paints, and plastic for packaging.

The company has a manufacturing unit that covers approximately 56,250 square feet in Singanayakanahalli, Yelahanka Hobli, Bangalore, along with a 56,250 square feet storage facility, supporting a streamlined manufacturing process. The company manages product design, manufacturing, quality checking, packaging, storing, and delivery processes across specialized segments of its infrastructure, all closely monitored by an experienced team of quality controllers.

Through its manufacturing prowess, competitive strengths, and strategic business approaches, Storage Technologies and Automation Limited is well-positioned to meet the evolving needs of its clients effectively. The company is dedicated to innovation, quality, and delivering economically feasible solutions that exceed client expectations.

As of April 01, 2024, the total order book value of the Company is ? 21.36 Crore.

Racks & Rollers - Storage Technologies and Automation Limited has turnaround from a loss of Rs 0.20 crore in the financial year 2022 to Rs 0.48 crore in the financial year FY23. Revenue during the year FY23 increased 16.39% to Rs 81.32 crore from Rs 69.87 crore in the previous year, primarily due to an increase in the business operations of the company and increase in number of customers.

For the seven months ended October 31, 2023, revenue from operations stood at Rs 52.92 crore, and profit after tax stood at Rs 3.59 crore.

OneView Corporate Advisors Private Limited is the sole book-running lead. The equity shares are proposed to be listed on SME Platform of BSE Limited.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Dr. Agarwal's Health Care files DRHP for IPO

Icon Facilitators Limited files DRHP with BSE SME

Casagrand Premier Builder Limited files DRHP for Rs 1,100 crore IPO

Manba Finance Limited raises Rs. 45.25 crore from Anchor Investors

NTPC Green Energy Ltd files DRHP for IPO

Influx Healthtech Limited Files DRHP with NSE Emerge

Gala Precision Engineering IPO subscribed 201.41 times on Final Day, the most since the start of FY25

Identical Brains Studios Limited files DRHP with NSE Emerge

Gala Precision Engineering Ltd's IPO to open on Monday, September 02, 2024, price band set at ?503/- to ?529/- per Equity Share

Sanstar Limited IPO subscribed 82.98 times on Final Day

Sanstar Ltd's IPO to open on Friday, July 19, 2024, price band set at ?90/- to ?95/- per Equity Share

Three M Paper Boards Ltd's SME IPO to open on Friday, July 12, 2024

Virtual Galaxy Infotech attracts marquee investors, raises Rs 21.44 Crore ahead of IPO Launch

IT Solutions provider Orient Technologies gets Sebi nod for IPO

Accel and Flipkart-backed Zinka Logistics Solutions Limited files DRHP for IPO

Sleepwear-focused company S D Retail Limited files DRHP for SME IPO

ACME Solar Holdings Limited files DRHP for Rs 3,000 crore IPO

Nephro Care India Makes History - First SME IPO to Surpass Rs. 20,000 Crore in bids

Gala Precision Engineering gets Sebi nod for IPO

Noida-based Interarch Building Products Limited gets SEBI nod for IPO

Shivalik Engineering Industries Limited files DRHP for IPO

Niva Bupa files for Rs 3,000Cr IPO

Sagility India Limited files DRHP for IPO

Ambey Laboratories Ltd IPO to open for subscription on July 4, 2024

Nephro Care India Limited IPO opened today, Anchor Book fully subscribed

Allied Blenders & Distillers IPO subscribed 23.49 times on Final Day

Allied Blenders & Distillers IPO fully subscribed on Day 2

Allied Blenders & Distillers IPO subscribed 51% on Day 1

Stanley Lifestyles IPO subscribed 95.75 times on Final Day

Deepak Parekh-backed Nephro Care India Limited's IPO opens on Friday, June 28

Allied Blenders & Distillers Limited raises Rs. 449.1 crore from Anchor Investors

Stanley Lifestyles IPO subscribed 5.22 times on Day 2

Mason Infratech Limited IPO Opens on June 24, 2024

Stanley Lifestyles IPO fully subscribed on Day 1 led by strong retail, NII demand

Stanley Lifestyles Limited raises Rs. 161.10 crore from Anchor Investors

Allied Blenders & Distillers Ltd's IPO to open on Tuesday, June 25, 2024

GEM Enviro Management Limited IPO Opens on June 19, 2024

Stanley Lifestyles Limited's IPO to open on Friday, June 21, 2024

Bajaj Housing Finance Ltd files DRHP for IPO

Bajaj Housing Finance Limited to raise funds through IPO

Kronox Lab Sciences IPO subscribed 117.25 times on Final Day

Kronox Lab Sciences IPO fully subscribed in less than half an hour of opening

Kronox Lab Sciences Limited raises Rs. 39.04 crore from Anchor Investors

Sattrix Information Security Limited SME IPO to open on June 5, price band set at ?121 per share

Kronox Lab Sciences Ltd's Initial Public Offering to open on Friday June 3, 2024

Aimtron Electronics Limited's SME IPO to open on Thursday, May 30, 2024

Garuda Construction and Engineering refiles DRHP for IPO

Nephro Care India Limited plans to raise Rs. 35-40 crore from its upcoming IPO

Vilas Transcore Ltd's SME IPO to open on Monday, May 27, 2024, price band set at ?139/- to ?147/- per Equity Share

Rulka Electricals Ltd, HOAC Foods India Ltd NSE-SME IPOs garner huge oversubscription


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020