Storage Technologies & Automation Ltd IPO (Racks & Rollers IPO) is set to launch on 30 April, 2024. The company initiated its business operations in the year 2010. It is involved in the business of storage racking systems. The company manufactures and instals automated warehouses, metal storage racks, and other storage solutions. It provides such solutions for various companies in the segment of automotive, oil and gas, food and beverages, aerospace, pharmaceuticals, retail, textiles and FMCG. The manufacturing facility of the company is located in Bangalore in 56250 square feet area. It has more than 900 customers and has done more than 2500 projects.
Storage Technologies & Automation Ltd IPO (Racks & Rollers IPO) DETAILS
Storage Technologies & Automation Ltd IPO (Racks & Rollers IPO) is set to launch on 30 April, 2024. The subscription timeline extends till 3 May, 2024. The size for the IPO is 29.95 Crore Rs. Shares issued through fresh issue mode are worth Rs 29.95 Crore. No shares are issued through offer for sale mode. The lot size is 1600 shares and the price is 73 Rs to 78 Rs per share. The company is going to get listed on BSE SME. The face value per share is Rs.10 and this is a Book Built Issue. The registrar for the company is Integrated Registry Management Services Private Limited.
Tabular Description of Storage Technologies & Automation Ltd IPO (Racks & Rollers IPO)
| IPO OPENING DATE | 30 April, 2024 |
| CLOSING DATE FOR IPO | 3 May, 2024 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 73 Rs to 78 Rs per share |
| LOT SIZE | 1600 shares |
| MINIMUM ORDER QUANTITY | 1600 shares |
| ISSUE SIZE | 29.95 Crore Rs. |
| OFFER FOR SALE | No shares are issued through offer for sale mode |
| FRESH ISSUE | 29.95 Crore Rs. |
| LISTING AT | BSE SME |
| LISTING DATE | 8 May, 2024 |
Storage Technologies & Automation Ltd IPO (Racks & Rollers IPO) : IMPORTANT DATES
| IPO OPENING DATE | 30 April, 2024 |
| CLOSING DATE FOR IPO | 3 May, 2024 |
| IPO ALLOTMENT DATE | 6 May, 2024 |
| REFUNDS | 7 May, 2024 |
| DEMAT A/C CREDITED ON | 7 May, 2024 |
| IPO LISTING DATE | 8 May, 2024 |
Storage Technologies & Automation Ltd IPO (Racks & Rollers IPO) begins for subscription from 30 April, 2024. The IPO subscription would continue till 3 May, 2024. The allotment status for the shareholders who applied would come on 6 May, 2024. The refunds for the ones who did not get allotment would be initiated on 7 May, 2024. The DEMAT accounts of shareholders would be credited on 7 May, 2024. The listing of the company would be completed on 8 May, 2024.
Storage Technologies & Automation Ltd IPO (Racks & Rollers IPO) : Lead Managers
The lead managers are :
- Oneview Corporate Advisors Private Limited
The minimum lot size for the company is decided at 1600 shares. This holding accounts to 124800 Rs.. The maximum lot size is decided at 3200 shares (HNI). This amounts to 249600 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 1600 shares | 124800 Rs. |
| Maximum | 3200 shares | 249600 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
COMPANY FINANCIALS
| Particularly (in Lakh Rs.) | 2020-21 | 2021-22 | 2022-23 |
| Asset | 3113 | 3567 | 4004 |
| Revenue | 4852 | 6989 | 8137 |
| PAT | 118 | (-20) | 48 |
Storage Technologies & Automation Ltd IPO (Racks & Rollers IPO) had an asset base of 3113 Lakh Rs in 2021 which increased to 3567 Lakh Rs. The assets of the company increased to 4004 Lakh Rs in 2023. The revenue of the company was 4952 Lakh rs in 2021 which increased to 6989 Lakh Rs in 2022. This increased to 8137 Lakh Rs in 2023. The profit of the firm was 118 Lakh Rs in 2021. The company suffered a loss of 20 Lakh Rs in 2022. The company again became profitable in the year 2023 with 48 Lakh Rs in profit.
PROS
- The company manufactures and instals automated warehouses, metal storage racks, and other storage solutions.
- It provides such solutions for various companies in the segment of automotive, oil and gas, food and beverages, aerospace, pharmaceuticals, retail, textiles and FMCG.
- The manufacturing facility of the company is located in Bangalore in 56250 square feet area.
- It has more than 900 customers and has done more than 2500 projects.
Storage Technologies & Automation Ltd IPO (Racks & Rollers IPO) Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Ramdeobaba Solvent Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
