Ranjeet Mechatronics Limited IPO
(A) Company’s Background
(i) In the year 1949, Late Shree Vallabbhai B. Swadia, father of one of the Promoters Mr. Rakesh V. Swadia, established a firm called M/s. Ranjeet Electric and Engineering Corporation. The firm was basically authorized dealer of electric motor pumps and related spares. Mr. Rakesh Swadia joined the business of his father at an early age and started understanding the business gimmicks.
(ii) Later on, the firm tied up with Kirloskar Brothers Limited and became the authorized dealer of various electric products especially electric motors pump sets and spares and also tied up with Kirloskar Oil Engines Limited.
(iii) In the year 1993, Late Vallabhbhai Swadia along with his wife, Late Mrs. Shantaben Vallabhbhai Swadia and Mr. Indukant V. Swadia incorporated the company – Ranjeet Electric Private Limited (“REPL”) at Ahmedabad. The company was incorporated with the main object to carry on the business of electrical and electrical mechanical engineers and sell supply, establish, fix and carry out and deal in industrial pumps, diesel engines, electrical motors, and equipment etc.
(B) Today Ranjeet Mechatronics Limited is a Fastest Growing System Integrator And Turnkey Project Contractor For Fire Protection And Detection Systems, Electronic Security & Automation Solution Provider Company With Pan India Presence.
(C) Products and Services of the Company
(i) High-Velocity Water Spray Systems (H. V. W. S. Systems).
(ii) Fire Hydrant System.
(iii) Fire Extinguishers System.
(iv) Fire Sprinkler System.
(v) Fire Detection System.
(vi) Gas Suppression System.
(vii) PA System & CCTV System.
(viii) Medium Velocity Water Spray Systems (M. V. W. S. Systems)
Objects of the Ranjeet Mechatronics Limited IPO:
Ranjeet Mechatronics Limited IPO Details:
| Open Date: | Sep 12 2018 |
| Close Date: | Sep 17 2018 |
| Total Shares: | 1,800,000 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Fixed Price Issue IPO |
| Issue Size: | 4.5 Cr. |
| Lot Size: | 6000 Shares |
| Issue Price: | ₹ 25 Per Equity Share |
| Listing At: | BSE SME |
| Listing Date: | Sep 26 2018 |
Promoters And Management:
Recommendation on Ranjeet Mechatronics Limited IPO:
Lead Manager of Ranjeet Mechatronics Limited IPO:
Registrar of Ranjeet Mechatronics Limited IPO:
Company Address:
Bid Details of Ranjeet Mechatronics Limited IPO as on
17 Sep 2018 | 11:58:02 PM
| Category | No.of shares offered | No. of shares bid |
|---|---|---|
| 852,000 | 66,012,000 | |
| 852,000 | 52,848,000 | |
| 96,000 | 96,000 | |
| 1,800,000 | 118,956,000 |
| QIBs | No |
| QIBs+HNIs Subscription | 77.48X |
| Retail Subscription | 62.03X |
| Total Subscription | 69.75X |
Discussion on Ranjeet Mechatronics Limited IPO:
28 Comments
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Any one got allotment ???
yes
Allotment is OUT! Allotment can be checked inside INVESTORZONE Android App. If you haven’t downloaded it yet, download it from this link:
https://play.google.com/store/apps/details?id=com.ommune.investorzone
No link of allotments check
Direct Link to check the allotment:
http://ipo.alankit.com/
When the allotment will be out?
It’s out! You can check inside InvestorZone app!!
How you can applied 6 lots. ??
With different accounts
Ok…understood….
Applied 6 lots, hoping at least 01, let’s see what happens…..🤞🤞🤞🤞
How you can applied 6 lots??
Why it seems IMPOSSIBLE? 🙂
Itna over subscription kaise hua…rating is also 2/10….( Investor zone )
Sir SME me fundamentals work nahi karta
It is a small issue and driven by some operator
We do fundamental analysis and based on that ranking is define. However, being only 4 Cr issue the demand has been created in the market and subscription figures jump.
62%
SME IPO – Ranjeet Mechatronics
More than 100 Cr coming from retailer’s only 😇
Retailers behind Ranjeet
Bids moving 🚀 40x
Sub or not
Listing gain kya lag rha he sabko ?
Subscription figure dekh ke to lag Raha hai ki listing gains honge…
Seems like a good bet (demand-wise)… It will be difficult to get allotment in RETAIL..
Agree with you Santosh jii. The demand is quite huge for the share which has reflected in the subscription figure on first day itself.
D/E and ROE Story based on FY18 Financials
(i) Equity= 2.58 Cr
(ii) Debt( Long-term and Short-term)= 12.15 Cr
(iii) D/E= 4.79
(iv) ROE= 35%
Conclusion: The ROE looks sumptuous but not to forget that the company is financing its business more on debt rather equity. The D/E at 4.79 is huge. So be aware.
Demands for Tax Deducted at Source are raised by Income Tax in the year 2010-11, 2011-12,2012-13, 2014-15, 2015-16, 2016-17 and 2017-18. In some years even after receiving the Notice from Income Tax the company has not submitted the TDS on time and thereby penalties were imposed on them under section 220(2). The interesting part is the TDS amount which was not submitted on time was very small in the range of 3000-8000. This shows the working of the company.
Conclusion: The company not filing TDS on time is like a crime these days and that too not filling on a continuous basis is a serious issue.
The Peer shown in the DRHP is a loss-making company so nothing can be concluded.
EPS Story (Pre- Issue) Of the Company as on FY18 Financials
(i) PAT= 91 Lacs
(ii) Outstanding Shares = 47.9998 Lacs
(iii) EPS = 1.89
(iv) P/E= 13.22
EPS Story (Post- Issue) Of the Company as on FY18 Financials
(i) PAT= 91 Lacs
(ii) Outstanding Shares = 65.9998 Lacs
(iii) EPS = 1.37
(iv) P/E= 18.24
Conclusion: The Issue is aggressively priced.