IPO

Thaai Casting Ltd IPO

NSE SME

Listed On: Feb 23, 2024 at ₹ 185.9

₹ 246400 /3200 Shares
*Min Investment

Check Allotment

15 Feb, 2024

Open Date

20 Feb, 2024

Close Date

21 Feb, 2024

Allotment Date

23 Feb, 2024

Listing Date
Thaai Casting Ltd IPO Issue Details
  • Issue Price ₹73-77 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 61,29,600 shares(aggregating up to ₹47.2 crore)
  • Fresh Share 61,29,600 shares(aggregating up to ₹47.2 crore)
  • Listing at NSE SME
  • List Price 185.9
  • Listing Date 2024-02-23
  • Lead Manager GYR Capital Advisors Private Limited
  • Registrar Purva Sharegistry India Pvt Ltd
Market Lot Size

Investors can bid for a minimum of 1600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min)11600₹1,23,200
Retail(max)11600₹1,23,200
NII (min) 23,200₹2,46,400
Thaai Casting Ltd IPO Reservation

Thaai Casting Ltd IPO offers total 6,129,600 shares. Out of which 1,156,800 (18.87%) allocated to QIB, 867,200 (14.15%) allocated to NII,2,024,000 (33.02%) allocated to RII, NA (NA%) allocated to employees and 1,734,400 (28.3%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered1,734,400 (28.3%)
Market Maker Shares Offered347,200 (5.66%)
QIB Shares Offered1,156,800 (18.87%)
NII (HNI) Shares Offered867,200 (14.15%)
Retail Shares Offered2,024,000 (33.02%)
Total Shares Offered6,129,600 (100%)
Thaai Casting Ltd IPO Documents
DRHP
RHP
Thaai Casting Ltd IPO Details


Thaai Casting Ltd IPO is an SME IPO, priced at ₹73-77 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the NSE SME platform. The IPO comprises a total issue of 61,29,600 equity shares, aggregating up to ₹47.2 crores..

The IPO bidding window is open from Feb 15, 2024 to Feb 20, 2024. The allotment is expected to be finalized on Feb 21, 2024, and the tentative listing date is Feb 23, 2024.

The minimum lot size for Retail investors is 1600 shares, with a minimum investment of ₹1,23,200. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,46,400.

GYR Capital Advisors Private Limited is acting as the lead manager to the issue. The registrar of the IPO is Purva Sharegistry India Pvt Ltd, and Giriraj Stock Broking Private Limited Commodity Mandi Private Limited will act as the market maker for this issue.

Read More
Thaai Casting Ltd IPO Subscription Analysis And Details
Retail
355.66x
Total
375.52x
As onQIB / NIIRetailTotal
Shares Offered / Reserved1,156,800 / 867,2002,024,0004,048,000
Day 1 15-02-24 06:00 PM
1.04 / 2.10 x5.06 x3.28 x
Day 2 16-02-24 06:00 PM
3.51 / 7.66 x21.09 x13.19 x
Day 3 19-02-24 06:00 PM
3.63 / 69.31 x115.95 x73.86 x
Day 4 20-02-24 06:00 PM
144.43 / 730.12 x355.66 x375.52 x
Total No of Applications
4,49,900
Thaai Casting Ltd Valuations
EPS Pre IPO ₹2.96/-
EPS Post IPO ₹6.38/-
P/E Pre IPO 25.99
P/E Post IPO 12.07
ROCE 13%
Debt/Equity 1.85
RoNW 40.10%
Price to Book Value 8.10
Thaai Casting Ltd Company Financials
In Lakhs
In Lakh
31-Mar-2331-Mar-2231-Mar-21
Assets5,498.523,752.292,379.19
Revenue4,911.643,841.942,048.70
Profit After Tax503.71115.4040.33
About Thaai Casting Ltd Company

Incorporated in June 2010, Thai Casting Limited is an automotive ancillary company with specialization in High-Pressure Die Casting, along with the precision Machining of both Ferrous and Non-Ferrous materials and Induction heating and quenching. The company has three business verticals:-
High Pressure Die Casting
Machining of Ferrous and Non-Ferrous
Induction Heating and Quenching

Thaai Casting is an IATF 16949: 2016 certified company.
Automotive Components: The firm provides a series of automotive parts, including Engine Mounting Support Brackets, transmission mounts, Fork Shift and Housing, Steering wheel armatures, Electrical connectors, YFG base frames (both RHS and LHS), Housing, Top Cover etc. The company's manufacturing is located in No Tiruvallur, Tamil Nadu, India,

The company has a die-making facility for new product development according to the required specifications. Due care is taken in maintaining the dies to ensure that they run continuously and have a long life.

Up to September 30, 2023, 132 people are employed in the various departments.

Read More
Thaai Casting Ltd - Promoter(s)

Sriramulu Anandan

Anandan Shevaani

Chinraj Venkatesan

Pre Issue Share Holding : 86.50%

Post Issue Share Holding : %

Thaai Casting Ltd IPO - Issue Objectives
1

To meet out the Capital Expenditure

2

To meet out the General Corporate Purposes

3

To meet out the Issue Expenses.

Thaai Casting Ltd IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
Thaai Casting Ltd2.962.969.5125.9940.1N/AStandalone
Endurance Technologies Ltd29.0729.07236.8141.9812.286.9N/A
Electro Steel Casting Limited5.635.63718.1716.77.840.16N/A

Notes:

  1. P/E figures for the peers are based on closing market prices of equity shares on BSE on November 30, 2023, divided by the Basic EPS as of March 31, 2023.
  2. Basic and Diluted EPS refers to the Basic and Diluted EPS sourced from the Annual Reports for FY 2022-23 of the listed peer companies.
  3. Return on Net Worth (%) for listed industry peers has been computed based on the Net Profit After Tax for the year ended March 31, 2023, divided by Total Equity as on March 31, 2023.
  4. NAV per share for listed peers is computed as the Total Equity as on March 31, 2023, divided by the outstanding number of equity shares as on March 31, 2023.
Contact Details

Thaai Casting Ltd

No. A-20 SIPCOT Industrial Park, 7th Cross Street, Pillaipakkam, Tiruvallur-602105

+91 79046 50127

cs@thaaicasting.com

https://www.thaaicasting.com/

Registrar Contact Details

Purva Sharegistry India Pvt Ltd

+91-022-23018261/ 23016761

support@purvashare.com

https://www.purvashare.com/investor-service/ipo-query