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Storage Technologies Racks and Rollers IPO is a book built issue of Rs 29.95 crores. The issue is entirely a fresh issue of 38.4 lakh shares.
Storage Technologies Racks and Rollers IPO bidding started from April 30, 2024 and ended on May 3, 2024. The allotment for the Storage Technologies Racks and Rollers IPO is expected to be finalized on Monday, May 6, 2024. Storage Technologies Racks and Rollers IPO will list on BSE SME with tentative listing date fixed as Wednesday, May 8, 2024.
Storage Technologies Racks and Rollers IPO price band is set at ₹73 to ₹78 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹124,800. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹249,600.
Oneview Corporate Advisors Private Limited is the book running lead manager of the Storage Technologies Racks and Rollers IPO, while Integrated Registry Management Services Private Limited is the registrar for the issue. The market maker for Storage Technologies Racks and Rollers IPO is Nikunj Stock Brokers.
Refer to Storage Technologies Racks and Rollers IPO RHP for detailed information.
| IPO Date | April 30, 2024 to May 3, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹73 to ₹78 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,840,000 shares (aggregating up to ₹29.95 Cr) |
| Fresh Issue | 3,840,000 shares (aggregating up to ₹29.95 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 9,000,000 |
| Share holding post issue | 12,840,000 |
| Market Maker portion | 200,000 shares Nikunj Stock Brokers |
Storage Technologies Racks and Rollers IPO offers 3,840,000 shares. 728,000 (18.96%) to QIB, 547,200 (14.25%) to NII, 1,275,200 (33.21%) to RII and 1,089,600 (28.38%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,089,600 (28.38%) |
| Market Maker Shares Offered | 200,000 (5.21%) |
| QIB Shares Offered | 728,000 (18.96%) |
| NII (HNI) Shares Offered | 547,200 (14.25%) |
| Retail Shares Offered | 1,275,200 (33.21%) |
| Total Shares Offered | 3,840,000 (100%) |
Storage Technologies Racks and Rollers IPO raises Rs 8.50 crore from anchor investors. Storage Technologies Racks and Rollers IPO Anchor bid date is April 29, 2024. Storage Technologies Racks and Rollers IPO Anchor Investors list
| Bid Date | April 29, 2024 |
| Shares Offered | 1,089,600 |
| Anchor Portion Size (In Cr.) | 8.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 5, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 4, 2024 |
Storage Technologies Racks and Rollers IPO opens on April 30, 2024, and closes on May 3, 2024.
| IPO Open Date | Tuesday, April 30, 2024 |
| IPO Close Date | Friday, May 3, 2024 |
| Basis of Allotment | Monday, May 6, 2024 |
| Initiation of Refunds | Tuesday, May 7, 2024 |
| Credit of Shares to Demat | Tuesday, May 7, 2024 |
| Listing Date | Wednesday, May 8, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 3, 2024 |
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹124,800 |
| Retail (Max) | 1 | 1600 | ₹124,800 |
| HNI (Min) | 2 | 3,200 | ₹249,600 |
| Lot Size Calculator | |||
The promoters of the company, are Mr. Khasim Sait, Mr. Mohammad Arif Abdul Gaffar Dor, Mr. Hanif A Khatri, Mr. Syed Azeem, Mr. Afzal Hussain and Mr. Nuumaan Khasim
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 70.09% |
Founded in October 2010, "Storage Technologies and Automation Limited is engaged in storage racking systems.
The company manufactures and installs metal storage racks, automated warehouses, and other storage solutions. The company provides storage solutions for various industries, including oil & gas, automotive, aerospace, food & beverages, pharmaceuticals, textiles, retail, and FMCG.
The company is an ISO 9001:2015 certified storage solution manufacturing company.
The company's manufacturing process is supported by approximately 56,250 square feet of space in Bangalore and 20,000 square feet of storage space.
To date, the company has executed more than 2500 projects and has served more than 900 customers worldwide.
The company has a presence in over 30 countries across the globe.
As of October 31, 2023, the company has a total of 166 permanent employees and 94 contracted employees.
Storage Technologies & Automation Ltd's revenue increased by 16.42% and profit after tax (PAT) rose by 335.72% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Oct 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 6,375.77 | 4,004.01 | 3,567.70 | 3,113.04 |
| Revenue | 5,317.09 | 8,137.12 | 6,989.72 | 4,852.38 |
| Profit After Tax | 358.91 | 48.30 | -20.49 | 118.42 |
| Net Worth | 953.52 | 594.61 | 546.31 | 566.81 |
| Reserves and Surplus | 653.52 | 294.61 | 246.31 | 466.81 |
| Total Borrowing | 1,632.53 | 931.63 | 871.10 | 347.48 |
| Amount in ₹ Lakhs | ||||
KPI as of October 31, 2023.
| KPI | Values |
|---|---|
| ROE | 46.37% |
| ROCE | 22.52% |
| RoNW | 37.64% |
| PAT Margin (%) | 6.78 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.96 | |
| P/E (x) | 48.45 |
The company intend to utilize the proceeds of the Issue to meet the following objects: -
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. It marked inconsistency in its bottom lines from FY21 to FY23 and posted bumper profits for 7M-FY24 which appears to be a window dressing for fancy valuation of the IPO. Though based on super annualized earnings of FY24, the issue appears fully priced, based on FY23 earnings, its exorbitantly priced. As of April 01, 2024, it had order book of Rs. 21+ cr. Well-informed/cash surplus investors may park funds for medium term. Read detail review...
The Storage Technologies Racks and Rollers IPO is subscribed 278.82 times on May 3, 2024 7:02:04 PM. The public issue subscribed 242.74 times in the retail category, 117.86 times in the QIB category, and 577.02 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 117.86 |
| NII | 577.02 |
| Retail | 242.74 |
| Total | 278.82 |
Total Application : 268,741 (337.19 times)
Storage Technologies and Automation Ltd
No 10, Survey No 21/6A
21/7A, 21/7B and 21/8 Singanayakanahalli,
Yelahanka, Bangalore, Bangalore-560064,
Phone: +91 98444 86300
Email: cs@racksandrollers.com
Website: https://racksandrollers.com/
Integrated Registry Management Services Private Limited
Phone: 044 - 28140801 to 28140803
Email: giri@integratedindia.in
Website: https://www.integratedregistry.in/registrarstosta.aspx?od=1
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Storage Technologies Racks and Rollers IPO is a SME IPO of 3,840,000 equity shares of the face value of ₹10 aggregating up to ₹29.95 Crores. The issue is priced at ₹73 to ₹78 per share. The minimum order quantity is 1600 Shares.
The IPO opens on April 30, 2024, and closes on May 3, 2024.
Integrated Registry Management Services Private Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Storage Technologies Racks and Rollers IPO using UPI as a payment gateway. Zerodha customers can apply in Storage Technologies Racks and Rollers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Storage Technologies Racks and Rollers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Storage Technologies Racks and Rollers IPO opens on April 30, 2024 and closes on May 3, 2024.
Storage Technologies Racks and Rollers IPO lot size is 1600 Shares, and the minimum amount required is ₹124,800.
You can apply in Storage Technologies Racks and Rollers IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Storage Technologies Racks and Rollers IPO will be done on Monday, May 6, 2024, and the allotted shares will be credited to your demat account by Tuesday, May 7, 2024. Check the Storage Technologies Racks and Rollers IPO allotment status.
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