Considering the upper price band of Rs 312, the stock is expected to trade at a premium of 41% over the issue price.
The IPO, which was completely a fresh share sale of 13.69 lakh shares, received an overwhelming response from investors with a total subscription of 176 times at closing.
The net proceeds from the public offering will be used to fund capital expenditures for the purchase of new plant, machinery and software, the repayment of debt, the pursuit of inorganic growth through acquisitions and other general corporate purposes.
Rappid Valves is primarily engaged in manufacturing valve solutions. Its extensive product portfolio covers a wide range of valves including ball valves, gate valves, globe valves, butterfly valves, check valves, double block valves, filter valves and marine valves that are manufactured from ferrous materials. and non-ferrous, in sizes ranging from 15mm to 600mm to meet various requirements.
Rappid Valves focuses on technology by manufacturing custom industrial valves. Manufacturing, engineering or the manufacturing process, are the steps through which our raw materials are transformed into a final product. The manufacturing process begins with the design of the product and the specification of the materials from which the quality product is made. Technically, valves are accessories, but they are generally discussed as a separate category. In an open valve, fluid flows in a direction from higher pressure to lower pressure. The valves market size is estimated at $79.90 billion in 2024, and is expected to reach $108.20 billion by 2029, growing at a CAGR of 6.25% during the forecast period. (2024-2029).
For the year ended March 2024, the company posted a total revenue of Rs 36.6 crore and a net profit of Rs 4.13 crore.
Sherni Shares acted as lead manager for the issue and Link Intime India was the registrar.
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