Thaai Casting Ltd IPOis set to launch on 15 February, 2023. The company initiated its business operations in the year 2010. It is an automotive ancillary company. Thaai casting specialises into precision machining of both ferrous and non-ferrous materials as well as high pressure die casting. It has 3 verticals like machining ferrous and nonferrous, high pressure die casting and induction heating and quenching. It offers a variety of products such as transmission mounts, engine mounting support brackets, steering wheel armatures, fork shift and housing, YGF base frames, electrical connectors, top cover, housing, etc. Its manufacturing facility is located in Tamil Nadu. It has an employee base of 132 people.
Thaai Casting Ltd IPO DETAILS
Thaai Casting Ltd IPOis set to launch on 15 February, 2023. The subscription timeline extends till 20 February, 2023. The size for the IPO is 47.20 Crore Rs. Shares issued through fresh issue mode are worth Rs 47.20 Crore. No shares are issued through offer for sale mode. The lot size is 1600 shares and the price is 73 Rs to 77 Rs per share. The company is going to get listed at NSE SME. The face value per share is Rs.10 and this is a Book Built Issue. The registrar for the company is Purva Sharegistry India Private Limited.
Tabular Description of Thaai Casting Ltd IPO
| IPO OPENING DATE | 15 February, 2023 |
| CLOSING DATE FOR IPO | 20 February, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 73 Rs to 77 Rs per share |
| LOT SIZE | 1600 shares |
| MINIMUM ORDER QUANTITY | 1600 shares |
| ISSUE SIZE | 47.20 Crore Rs. |
| OFFER FOR SALE | No shares are issued through offer for sale mode |
| FRESH ISSUE | 47.20 Crore Rs. |
| LISTING AT | NSE SME |
| LISTING DATE | 23 February, 2023 |
Thaai Casting Ltd IPO: IMPORTANT DATES
| IPO OPENING DATE | 15 February, 2023 |
| CLOSING DATE FOR IPO | 20 February, 2023 |
| IPO ALLOTMENT DATE | 21 February, 2023 |
| REFUNDS | 22 February, 2023 |
| DEMAT A/C CREDITED ON | 22 February, 2023 |
| IPO LISTING DATE | 23 February, 2023 |
Thaai Casting Ltd IPO begins for subscription from 15 February, 2023. The IPO subscription would continue till 20 February, 2023. The allotment status for the shareholders who applied would come on 21 February, 2023. The refunds for the ones who did not get allotment would be initiated on 22 February, 2023. The DEMAT accounts of shareholders would be credited on 22 February, 2023. The listing of the company would be completed on 23 February, 2023.
Thaai Casting Ltd IPO: Lead Managers
The lead managers are :
- Gretex Corporate Services Limited
The minimum lot size for the company is decided at 1600 shares. This holding accounts to 123200 Rs.. The maximum lot size is decided at 3200 shares (HNI). This amounts to 246400 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 1600 shares | 123200 Rs. |
| Maximum | 3200 shares | 246400 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 | 2379 | 3752 | 5498 |
| Revenue | 2048 | 3841 | 4911 |
| PAT | 40 | 115 | 503 |
Thaai Casting Ltd had an asset base of 2379 lakh rs in 2021 which increased to 3752 lakh rs in 2022. The asset base of the firm was 5498 lakh Rs in 2023. The revenue of the firm was 2048 lakh rs in 2021 which increased to 3841 Lakh Rs in 2022 and 4911 Lakh Rs in 2023. The profit of the firm was 40 Lakh Rs in 2021 which increased to 115 Lakh Rs in 2022 and 503 Lakh Rs in 2023.
PROS
- Thaai casting specialises into precision machining of both ferrous and non-ferrous materials as well as high pressure die casting.
- It has 3 verticals like machining ferrous and nonferrous, high pressure die casting and induction heating and quenching.
- It offers a variety of products such as transmission mounts, engine mounting support brackets, steering wheel armatures, fork shift and housing, YGF base frames, electrical connectors, top cover, housing, etc.
- Its manufacturing facility is located in Tamil Nadu. It has an employee base of 132 people.
Thaai Casting Ltd 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 Thaai Casting Ltd IPObutton 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.
