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Rite Zone Chemcon India Ltd IPO (Rite Zone Chemcon IPO) Detail

Oct 31, 2022 - Nov 2, 2022

Incorporation in 2015, Rite Zone Chemcon India Limited deals in a range of construction chemicals and concrete products. The company offers complete construction solutions by supplying a complete range of various chemical products related to civil construction, infrastructure, building & structure including pre-construction or post construction as well as supplying all types of concrete required for construction and infrastructure developments.

The company's products include Concrete Admixture, Water Proofing Systems, Concrete Lubricators, Engineering Grouts, Industrial Flooring, Concrete Repairs, Curing Compound & Mould Release Agents, Surface Treatment, Tiling & Block Products.

Rite Zone Chemcon India Limited outsource the chemical products production to a third-party manufacturer. The company has also tied up with concrete manufacturers in Maharashtra for concrete production.

Strengths:

  • Wide product portfolio with a focus on quality.
  • Quality Assurance and customer satisfaction.
  • Asset Light business model with low fixed overheads.
  • R&D set up for constant product improvement and new product development.
  • Longstanding customer relationships leading to increased business opportunities.
  • Existing committed workforce.

Company Financials

Rite Zone Chemcon India Ltd Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
31-Mar-20666.83574.7715.8962.5361.53258.12
31-Mar-21677.87384.210.6963.2662.26329.3
31-Mar-221039.27565.7326.21502.36198.86106.24
30-Sep-221240.921036.3417.48519.85216.3497.36
Amount in ₹ Lakhs

Objects of the Issue

The company intend to utilize the proceeds of the Issue to meet the following objects:

1. To part finance the Working Capital Requirements.

2. General Corporate Purposes.

3. To meet Issue Expenses.

Rite Zone Chemcon IPO Details

IPO Date Oct 31, 2022 to Nov 2, 2022
Listing Date Friday, November 11, 2022
Face Value ₹10 per share
Price ₹75 per share
Lot Size 1600 Shares
Issue Size1,195,200 shares of ₹10
(aggregating up to ₹8.96 Cr)
Fresh Issue1,195,200 shares of ₹10
(aggregating up to ₹8.96 Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
NII (HNI) Shares Offered50% of the net offer
Retail Shares Offered50% of the net offer
Company Promoters

Mr. Bhavesh Babulal Bhandari and Mrs. Arti Bhavesh Bhandari are the company promoters.

Rite Zone Chemcon IPO Tentative Timetable

Rite Zone Chemcon IPO opens on Oct 31, 2022, and closes on Nov 2, 2022. The Rite Zone Chemcon IPO bid date is from Oct 31, 2022 10.00 A.M. to Nov 2, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Event Tentative Date
Opening Date Oct 31, 2022
Closing Date Nov 2, 2022
Basis of Allotment Nov 7, 2022
Initiation of Refunds Nov 9, 2022
Credit of Shares to Demat Nov 10, 2022
Listing Date Nov 11, 2022

Rite Zone Chemcon IPO Lot Size

The Rite Zone Chemcon IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹120,000).

Application Lots Shares Amount
Retail (Min) 1 1600 ₹120,000
Retail (Max) 1 1600 ₹120,000
S-HNI (Min) 2 3,200 ₹240,000

Rite Zone Chemcon IPO Promoter Holding

Pre Issue Share Holding 58.39%
Post Issue Share Holding

Rite Zone Chemcon IPO Review

RZCIL is in a highly competitive and fragmented segment. It has priced the IPO exorbitantly even on the basis of its super earnings. A small equity base post-IPO indicates s longer gestation period for migration to the mainboard. There is no harm in skipping this pricy issue. Read detail review...


Rite Zone Chemcon IPO Subscription Status (Bidding Detail)

The Rite Zone Chemcon IPO is subscribed 4.73 times on Nov 2, 2022 7:00:00 PM. The public issue subscribed 7.10 times in the retail category, times in the QIB category, and 2.36 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
NII2.36
Retail7.10
Total4.73

Rite Zone Chemcon IPO Prospectus

Rite Zone Chemcon IPO Rating

81
3.1
Rating:Rated 3.1 stars
Vote Here ...

Rite Zone Chemcon IPO Listing Date

Listing Date Friday, November 11, 2022
BSE Script Code
NSE Symbol RITEZONE
Listing In ST Group of Securities
ISIN INE0MRA01019
IPO Price ₹75 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
NSE SME
₹75.00
₹82.85
₹78.75
₹86.95
₹86.95

Company Contact Information

Rite Zone Chemcon India Ltd
Row House 11,
Beverly Park, Row House CHS Ltd
Mira Road Thane- 401107
Phone: +91 22 6884 9680
Email: cs@ritezone.in
Website: http://www.ritezone.in/

Rite Zone Chemcon IPO Registrar

Skyline Financial Services Private Ltd

Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/

Rite Zone Chemcon IPO Review

Rite Zone Chemcon IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 0 0 1
Members 8 1 1

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IPO Broker Recommendations

Rite Zone Chemcon IPO FAQs

Rite Zone Chemcon IPO is a SME IPO of 1,195,200 equity shares of the face value of ₹10 aggregating up to ₹8.96 Crores. The issue is priced at ₹75 per share. The minimum order quantity is 1600 Shares.

The IPO opens on Oct 31, 2022, and closes on Nov 2, 2022.

Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

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

Steps to apply in Rite Zone Chemcon 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 'Rite Zone Chemcon 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 Rite Zone Chemcon IPO opens on Oct 31, 2022 and closes on Nov 2, 2022.

Rite Zone Chemcon IPO lot size is 1600 Shares and the minimum order quantity is .

You can apply in Rite Zone Chemcon 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 Rite Zone Chemcon IPO will be done on Nov 7, 2022, and the allotted shares will be credited to your demat account by Nov 10, 2022. Check the Rite Zone Chemcon IPO allotment status.

The Rite Zone Chemcon IPO listing date is on Friday, November 11, 2022.
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