Business description – Incorporated in 1993, Ranjeet Electric Private Limited’s main object was 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 equipments etc. In 2009, the company took distributorship of fire pumps and fire engines of Kirloskar. In subsequent years, the firm – through its subsidiaries – has been awarded a work contract of sewage treatment plant, pumping system including water softening and water distribution system at Nashik Airport. In 2013-14, another group firm was awarded a contract of approximately INR10 crores from NCC Limited at Vardhaman Institute of Medical Science for Design, Supply, Transportation, Installation, Testing, Commissioning related to fire hydrant system, sprinkler system, fire Extinguishers, fire pumps, gas based fire Suppression system. The company’s name was changed to Ranjeet Mechatronics Limited in May 2018.
Promoters of Ranjeet Mechatronics – Mr Rakesh Vallabhbhai Swadia and Mr Devarshi Rakesh Swadia
| Ranjeet Mechatronics IPO details | |
| Subscription Dates | 12 – 17 September 2018 |
| IPO Price band | INR25 per share |
| Fresh issue | 1,800,000 shares (INR4.5 crore) |
| Offer for sale | Nil |
| Total IPO size | 1,800,000 shares (INR4.5 crore) |
| Minimum bid (lot size) | 6,000 shares |
| Face Value | INR10 per share |
| Retail Allocation | 50% |
| Listing On | BSE SME platform |
Use of funds
- Working Capital Requirement – INR3.12 crore
- General Corporate Purpose – INR1.00 crore
- Issue Expenses – INR0.38 crore
| Ranjeet Mechatronics’ financial performance (in INR crore) | ||||||
| FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | ||
| Total revenue | 10.9 | 24.0 | 25.3 | 17.6 | 18.0 | |
| Total expenses | 10.8 | 23.9 | 25.0 | 16.9 | 16.7 | |
| Profit after tax | 0.03 | 0.05 | 0.16 | 0.51 | 0.91 | |
Ranjeet Mechatronics’ Contact Details
Ranjeet Mechatronics Limited
Block A, Office No: 407, Dev Aurum
Anand Nagar Char Rasta, Prahlad Nagar Road
Ahmedabad – 380 015
Phone: +91 79 4000 9390
Email: [email protected]
Website: www.ranjeet.co.in
Ranjeet Mechatronics IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 5.23 |
| Day 2 | 6.51 |
| Day 3 | 66.03 |
Ranjeet Mechatronics Valuation (For FY2018, post bonus)
Earnings Per Share (EPS): INR2.20
Price/Earnings (P/E) ratio: 11.36
Return on Net Worth (RONW): 35.3%
Net Asset Value (NAV): INR6.23 per share
Registrar of Ranjeet Mechatronics IPO
Alankit Assignments Limited
205-208, Anarkali Complex,
Jhandewalan Extension
New Delhi – 110 055
Phone: +91 11 4254 1234
Fax: +91 11 4154 3474
Email: [email protected]
Website: www.alankit.com
Ranjeet Mechatronics IPO Allotment Status
Ranjeet Mechatronics IPO allotment status is now available on Alankit Assignments’ website. Click on this link to get allotment status.
Listing performance of Ranjeet Mechatronics
IPO Opening Date: 12 September 2018
IPO Closing Date: 17 September 2018
Finalisation of Basis of Allotment: 21 September 2018
Initiation of refunds: 25 September 2018
Transfer of shares to demat accounts: 25 September 2018
Listing Date: 26 September 2018
Listing Price on BSE SME: INR27.5 per share (up 10% from IPO price)
Closing Price on BSE SME: INR28.85 per share (up 15.4% from IPO price)