Rappid Valves IPO allotment: Steps to check status on NSE, Link Intime

Engineering company Rappid Valves India Ltd is expected to announce the IPO share allotment today.

The ₹ 30.41-crore public offer of the company was open for subscription from September 23 to 25, 2024. The IPO generated robust demand with the issue getting subscribed by 176 times.

Investors are keenly waiting for the company to finalise the share allotment status. Investors will be informed through SMS and emails about the allotment of shares.

IPO investors can also check the share allotment status by following simple steps.

Steps to check share allotment status on IPO registrar:

• Go to Link Intime India Pvt Ltd website (https://www.linkintime.co.in/)
• Click on Investor Services and select Public Issues
• Select Rappid Valves (India) Ltd
• Enter either your application No, PAN, DP/Client ID or Account No / IFSC
• Submit to check allotment status

Steps to check Rappid Valves IPO share allotment status on NSE

• Go to NSE IPO allotment status page: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password
• Select Rappid Valves (India) Ltd
• Verify PAN
• Enter IPO application No
• Click on Submit

Rappid Valves India Limited IPO details

The ₹30.41-crore Rappid Valves IPO was an entirely fresh issue of 13.7 lakh shares. The company fixed the price band at ₹210 to ₹222 per share for the IPO. The minimum lot size for an application was 600 shares.

Rappid Valves IPO received strong demand across investor categories with the issue getting fully subscribed within hours of the launch of the IPO on September 23.

At the close of bidding on September 25, the valve solutions provider IPO was booked around 176 times. Bids for more than 16.04 crore shares were received against 9.1 lakh shares on offer, according to the NSE data.

The retail individual investors booked their quota 109 times while the Non-institutional investors’ (NIIs) segment was booked 491 times. The Qualified Institutional Buyers’ (QIBs) portion was booked around 55 times.

After the share allotment, Rappid Valves India will initiate refunds for the unsuccessful bidders on September 27. Shares will be credited to the allottees' demat accounts the same day. The IPO listing date has been tentatively fixed as September 30.

Earlier, the company raised ₹8.64 crore from anchor investors. It allotted 389,400 shares to four fund schemes at a price of ₹222 per share. Leading Light Fund VCC, Ashika Global Securities Private Limited, SB Opportunities Fund and Smart Horizon Opportunities Fund are the anchor investors.

Rappid Valves has proposed to use the IPO proceeds to fund capital expenditures for a new plant, machinery, and software. It will use ₹6.73 crore for funding the capital expenditure for the purchase of new plant and machineries and Software.

The company will use nearly ₹39 lakh for the renovation of the registered office and existing manufacturing unit .

It will use ₹10.50 crore for repayment/prepayment of all or certain of our borrowings availed of by the company and ₹ 4 crore for pursuing inorganic growth initiatives.

About Rappid Valves India Limited

Founded in 2002, Rappid Valves (India) specialises in manufacturing a wide variety of valve solutions. It produces valves such as ball, gate, globe, butterfly, check and marine valves used across sectors.

The company operates a well-equipped manufacturing facility with advanced CNC machinery and quality testing tools. It produces valves ranging from 15mm to 600mm, using both ferrous and non-ferrous materials.