{"id":38221,"date":"2024-04-09T11:43:44","date_gmt":"2024-04-09T06:13:44","guid":{"rendered":"https:\/\/theeveningpost.in\/index.php\/2024\/04\/09\/ramdevbaba-solvent-limited-ipo-opens-on-april-15-2024\/"},"modified":"2024-04-09T11:43:44","modified_gmt":"2024-04-09T06:13:44","slug":"ramdevbaba-solvent-limited-ipo-opens-on-april-15-2024","status":"publish","type":"post","link":"https:\/\/theeveningpost.in\/index.php\/2024\/04\/09\/ramdevbaba-solvent-limited-ipo-opens-on-april-15-2024\/","title":{"rendered":"Ramdevbaba Solvent Limited IPO Opens on April 15, 2024"},"content":{"rendered":"<div>\n<p><strong>Mumbai (Maharashtra) [India], April 9:<\/strong> Ramdevbaba Solvent Limited, headquartered in Nagpur, is a manufacturer and distributor of Physically Refined Rice Bran Oil,\u00a0has announced its plan to go public with an Initial Public Offering on April 15, 2024. The company is aiming to raise\u00a0\u20b9\u00a050.27 Crores\u00a0at upper price band\u00a0through this IPO, with shares set to be listed on the NSE Emerge.\u00a0<\/p>\n<p>The issue size is Up to 59,13,600 equity shares at face value of\u00a0\u20b9\u00a010 each.\u00a0<\/p>\n<p>Equity Share Allocation\u00a0<\/p>\n<p>\u2013 QIB Anchor Portion \u2013 Up to 16,80,000 Equity Shares<\/p>\n<p>\u2013 Net Qualified Institutional Buyers (QIB) \u2013 Not more than 11,20,000 Equity Shares<\/p>\n<p>\u2013 Non-Institutional Investors (NII) \u2013\u00a0Not less than\u00a08,40,000\u00a0Equity Shares<\/p>\n<p>\u2013 Retail Individual Investors (RII) \u2013\u00a0Not less than 19,60,000 Equity Shares<\/p>\n<p>\u2013 Market Maker \u2013\u00a0Up to 3,13,600\u00a0Equity Shares<\/p>\n<p>The net proceeds from the IPO will be utilized to Setting up of new manufacturing facility,\u00a0repayment in full or in part, of certain of our outstanding borrowings, funding the working capital requirements\u00a0and general corporate expenses.\u00a0The bidding for the Anchor portion will open on April 12, 2024, the issue will open on April 15, 2024 and closes on April 18, 2024. \u00a0\u00a0<\/p>\n<p>The Book Running Lead Manager to the Issue\u00a0is\u00a0<a>Choice Capital Advisors Private\u00a0<\/a>Limited. The Registrar to the Issue is\u00a0Bigshare Services Private Limited.<\/p>\n<p>Mr. Nilesh Suresh Mohata, Managing Director of Ramdevbaba Solvent Limited\u00a0said,\u00a0\u201d\u00a0We are delighted to announce our upcoming IPO, marking a significant stride in our growth journey. This decision reflects our confidence in our company\u2019s capabilities and our commitment to seizing new opportunities for expansion. Our strategically located manufacturing facilities, and meticulously managed for quality control, position us well for increased visibility and market presence. By embarking on this new chapter, we are primed to capitalize on opportunities for growth and innovation in our industry.<\/p>\n<p>This IPO will not only enhance our corporate standing but also amplifies the recognition of the Ramdevbaba Solvent Limited brand. Further, debt repayment will strengthen our balance sheet. We foresee these initiatives yielding numerous advantages, adding value and strengthening our position as a whole.\u201d<\/p>\n<p>Mr. Ratiraj Tibrewal, Director of Choice Capital Advisors Private Limited\u00a0said, \u201d\u00a0I\u2019m glad about the upcoming IPO of Ramdevbaba Solvent Limited. This company has shown impressive resilience and adaptability in its diverse operations, ranging from manufacturing to distribution of Rice Bran Oil and its by-products. With strategic manufacturing facilities and a strong presence in key markets, the company is well-positioned for future growth. Their commitment to innovation and sustainability makes them an attractive investment opportunity. I believe this IPO brings a promising prospect.\u201d\u00a0<\/p>\n<p><em>If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai (Maharashtra) [India], April 9: Ramdevbaba Solvent Limited, headquartered in Nagpur, is a manufacturer and distributor of Physically Refined Rice Bran Oil,\u00a0has announced its plan to go public with an Initial Public Offering on April 15, 2024. The company is aiming to raise\u00a0\u20b9\u00a050.27 Crores\u00a0at upper price band\u00a0through this IPO, with shares set to be listed&#8230;<\/p>\n","protected":false},"author":1,"featured_media":38222,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[294],"class_list":["post-38221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/theeveningpost.in\/index.php\/wp-json\/wp\/v2\/posts\/38221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theeveningpost.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theeveningpost.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theeveningpost.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theeveningpost.in\/index.php\/wp-json\/wp\/v2\/comments?post=38221"}],"version-history":[{"count":0,"href":"https:\/\/theeveningpost.in\/index.php\/wp-json\/wp\/v2\/posts\/38221\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theeveningpost.in\/index.php\/wp-json\/wp\/v2\/media\/38222"}],"wp:attachment":[{"href":"https:\/\/theeveningpost.in\/index.php\/wp-json\/wp\/v2\/media?parent=38221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theeveningpost.in\/index.php\/wp-json\/wp\/v2\/categories?post=38221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theeveningpost.in\/index.php\/wp-json\/wp\/v2\/tags?post=38221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}