Incorporated in 2004, R M Drip & Sprinklers System Ltd (RMD) is engaged in manufacture and sale of Micro Irrigation System (MIS) consisting of drip irrigation system and sprinkler irrigation system along with its components, irrigation accessories and allied products.
RM Drip designs and manufactures, world class micro irrigation equipment's, In-house within its factory premises, situated at Sinnar, near Nashik. The company also assists farmers in designing and installation of their Sprinkler and Drip Irrigations Systems, according to their specific needs.
RMD’s revenue mix comprises of open market and project market models. Majority of its revenue comes from open market with the help of channel partners. RMD operates in states of Maharashtra, Gujarat, Karnataka and MP. Company’s product range include HDPE Pipes, Pipes Fittings and Irrigation Equipments including drip/sprinkler systems, Disc filters, Screen filters, Hydro-Cyclone filters, Sand (Gravel) filters, Compression fittings, valves (Electric & Mechanical), Fertilizer Tanks etc.
The promoters of the company are:
1. Vijaykumar Kshirsagar
2. Shubhangi Kshirsagar
3. Arjun Makani
The object of the issue are to:
1. Funding the working capital requirements of the company;
2. General corporate purpose.
»» Issue Open: Sep 19, 2017 - Sep 25, 2017
»» Issue Type: Book Built Issue IPO
»» Issue Size: 2,010,000 Equity Shares of Rs 10 aggregating up to Rs 11.46 Cr
»» Face Value: Rs 10 Per Equity Share
»» Issue Price: Rs 53 - Rs 57 Per Equity Share
»» Market Lot: 2000 Shares
»» Minimum Order Quantity: 2000 Shares
»» Listing At: NSE SME
R M Drip IPO Subscription Status tells if R M Drip IPO subscribed or not. Investors can bid for IPO shares between 10 AM to 5 PM when public issue is open. R M Drip IPO oversubscribed if bids are received for more shares than what is offered by the company.
|Number of Bids Received|
|As on Date & Time||QIB||NII||RII||Total|
|Shares Offered / Reserved|
|Day 1 - Sep 19, 2017 17:00 IST||0||388,000||238,000||626,000|
|Day 2 - Sep 20, 2017 17:00 IST||0||442,000||356,000||798,000|
|Day 3 - Sep 21, 2017 17:00 IST||0||484,000||478,000||962,000|
|Day 4 - Sep 22, 2017 17:00 IST||0||492,000||536,000||1,028,000|
|Day 5 - Sep 25, 2017 17:00 IST||0||1,458,000||948,000||2,406,000|
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