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Rajeshwari Cans Limited IPO (Rajeshwari Cans IPO) Detail

Mar 31, 2021 - Apr 6, 2021

Incorporated in 2013, Rajeshwari Cans Limited is primarily engaged in the business of manufacturing round-printed tin containers of different sizes for packing material and also performs printing work on it. The company supplies its tin containers to tobacco manufacturers and paint companies. It manufactures 50 gm to 500 gm containers for the packing of tobacco material and up to 5 liters of containers for the paint industry.

It has a manufacturing unit at Mahagujarat Industrial Estate and Shree Ganesh Industrial Estate where it carries out all of the manufacturing activities.

Competitive strengths

  • High-quality tin containers of different sizes.
  • Highly experienced promoters.
  • Strategically located manufacturing unit.
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Company Promoters:

Bharatkumar Vora, Harshad Kumar Vora, Siddharth Vora, and Pratik Vora are the company promoters.

Company Financials:

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (₹ in Lakh)
31-Mar-20 31-Mar-19 31-Mar-18
Total Assets 1,234.96 1,322.08 1,160.95
Total Revenue 2,209.73 2,132.33 1,849.64
Profit After Tax 18.69 15.75 11.21

Objects of the Issue:

  • Meeting incremental working capital requirement of the business.
  • General corporate purposes.

Rajeshwari Cans IPO Details

IPO Opening Date Mar 31, 2021
IPO Closing Date Apr 6, 2021
Issue Type Fixed Price Issue IPO
Face Value ₹10 per equity share
IPO Price ₹20 per equity share
Market Lot 6000 Shares
Min Order Quantity 6000 Shares
Listing At BSE SME
Issue Size2,016,000 Eq Shares of ₹10
(aggregating up to ₹4.03 Cr)

Rajeshwari Cans IPO Tentative Timetable

The Rajeshwari Cans IPO open date is Mar 31, 2021, and the close date is Apr 6, 2021. The issue may list on Apr 15, 2021.

IPO Open Date Mar 31, 2021
IPO Close Date Apr 6, 2021
Basis of Allotment Date Apr 9, 2021
Initiation of Refunds Apr 12, 2021
Credit of Shares to Demat Account Apr 13, 2021
IPO Listing Date Apr 15, 2021

Rajeshwari Cans IPO Lot Size

The Rajeshwari Cans IPO market lot size is 6000 shares. A retail-individual investor can apply for up to 1 lots (6000 shares or ₹120,000).

Application Lots Shares Amount (Cut-off)
Minimum 1 6000 ₹120,000
Maximum 1 6000 ₹120,000

Rajeshwari Cans IPO Promoter Holding

Pre Issue Share Holding 100%
Post Issue Share Holding 61.71%

Rajeshwari Cans IPO Review

IPO pricing reduced to half from its original proposal augurs well for the investors, however, this also raises eyebrows as to how it mulled a sudden nose-dive in the pricing of IPO. Based on FY21 annualized earnings, the issue is priced aggressively at a P/E of 62, whereas on the basis of the last three years’ average, it is at a P/E of 23 and on the basis of FY20, the asking price is at a P/E of 55. Though it posted slow and steady growth in the last three fiscals, 50% reduction in the iPO price still makes it a highly-priced offer. Considering this, cash surplus – risk savvy investors may consider investment at their own risks. Read detail review...

Rajeshwari Cans IPO Subscription Status (Bidding Detail)

The Rajeshwari Cans IPO is subscribed 1.40 times on 4/6/2021 6:49:00 AM. The public issue subscribed 1.19 times in the retail category, times in the QIB category, and 1.60 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
NII1.60
Retail1.19
Total1.40

Rajeshwari Cans IPO Prospectus

Rajeshwari Cans IPO Rating

55
2.9
Rating:Rated 2.9 stars
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Rajeshwari Cans IPO Listing Date

Listing Date Thursday, April 15, 2021
BSE Script Code 543285
NSE Symbol
Listing In MT Group of Securities
ISIN INE0CQ101015
IPO Price ₹20 per equity share
Face Value ₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE SME
₹20.00
₹20.75
₹20.00
₹21.00
₹20.00

Company Contact Information

Rajeshwari Cans Limited
96, Mahagujarat, Industrial Estate, Moraiya
Ta: Sanand, Ahmedabad -382210

Phone: 079-29796584
Email: rcl2gov@gmail.com
Website: http://www.rajeshwaricans.com/

Rajeshwari Cans IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com

Rajeshwari Cans IPO Reviews / Ratings

Rajeshwari Cans IPO FAQs

Rajeshwari Cans IPO is a SME IPO of 2,016,000 equity shares of the face value of ₹10 aggregating up to ₹4.03 Crores. The issue is priced at ₹20 per equity share. The minimum order quantity is 6000 Shares.

The IPO opens on Mar 31, 2021, and closes on Apr 6, 2021.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Zerodha customers can apply online in Rajeshwari Cans IPO using UPI as a payment gateway. Zerodha customers can apply in Rajeshwari Cans IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Rajeshwari Cans IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Rajeshwari Cans IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Rajeshwari Cans IPO opens on Mar 31, 2021 and closes on Apr 6, 2021.

Rajeshwari Cans IPO lot size is 6000 Shares and the minimum order quantity is 6000 Shares.

You can apply in Rajeshwari Cans 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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Rajeshwari Cans IPO will be done on Apr 9, 2021, and the allotted shares will be credited to your demat account by Apr 13, 2021. Check the Rajeshwari Cans IPO allotment status.

The Rajeshwari Cans IPO listing date is on Thursday, April 15, 2021.

Rajeshwari Cans IPO Message Board

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10 Comments

6. IPOANALYSIS |Mar 29, 2021 2:58:44 AM
IPO Guru IPO Guru (1900+ Posts, 1500+ Likes)
Please avoid . It''s fair value not more than 2 Rs
5. KDKing🤴 |Mar 28, 2021 11:14:51 AM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
This CAN company CAN loot you..
4. IPOANALYSIS |Mar 24, 2021 11:46:06 AM
IPO Guru IPO Guru (1900+ Posts, 1500+ Likes)
Even worse than mahip industries..mahip industry Ahmedabad based packaging company . This one will erode atleast 90 pc of investor wealth in next 1 year.
3. iamnimitshah |Mar 23, 2021 6:50:59 PM
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
@Admins In DHRP, the issue price is 40₹ whereas you have mentioned issue price as 20₹. Can you please check?
2. IPOANALYSIS |Mar 23, 2021 1:11:46 PM
IPO Guru IPO Guru (1900+ Posts, 1500+ Likes)
After mahip industries another disaster company in packaging sector. Please avoid these company from Ahmedabad.
1. IPOANALYSIS |Mar 23, 2021 1:15:17 PM
IPO Guru IPO Guru (1900+ Posts, 1500+ Likes)
Mark my words in 1 year this company will be below 1 rs price. It has surpassed and should be aware thie worst ever SME IPO in history of India .