Rudra Gas Enterprise IPO allotment: Follow these steps to check status online

Gas pipeline infrastructure company Rudra Gas Enterprise Ltd has seen a good response for its initial public offering (IPO) during the five-day subscription period that ended on February 12. The Rudra Gas Enterprise IPO share allotment status is expected to be finalised on Tuesday, February 13.

The initial public offering of the Gujarat-based company was open for subscription from February 8 to February 12. The issue received an overwhelming response from investors. The ₹ 14 crore issue was subscribed over 350 times of the shares on the offer, driven by huge demand from retail investors.

After the Rudra Gas Enterprise IPO share allotment, the company will initiate refunds and start crediting the equity shares to demat accounts on February 14. Rudra Gas Enterprise IPO listing is expected on BSE SME on February 15.

How to check Rudra Gas Enterprise Ltd IPO allotment Status

Investors who have applied for the IPO can check the allotment status on both BSE and official registrar websites by following a few simple steps. Link Intime India Private Ltd has been appointed as the official registrar for the IPO.

Steps to check Rudra Gas IPO allotment on BSE website:

• Go to BSE website (https://www.bseindia.com)
• Click on investor relations section and go to application status at https://www.bseindia.com/investors/appli_check.aspx
• Select Rudra Gas Enterprise Ltd from the dropdown list.
• Enter your application number and PAN details.
• Click ‘submit’.
• The details of the allotted shares will appear on screen for successful bidders.

Steps to Rudra Gas Enterprise IPO share allotment status on official registrar website:

Investors can also check the share allotment status through the official website of registrar Link Intime India Private Ltd. Here’s how to check IPO allotment status:

• Go to the official website of Link Intime India Pvt Ltd: https://linkintime.co.in/ .
• Click on the investor services section and go to public issues.
• Check application status.
• Select Rudra Gas Enterprise from the dropdown menu.
• Enter your application number, PAN or Demat account number
• Click on ‘Submit’ to check the allotment status.

Rudra Gas Enterprise Ltd IPO: important dates

The IPO of gas pipeline company Rudra Gas will be listed on BSE SME platform on Thursday, February 15. Rudra Gas Enterprise IPO was open for subscription from February 8 to February 12.

Rudra Gas Enterprise Ltd IPO subscription status

Rudra Gas IPO closed for subscription on Monday, February 12, attracting 350 times subscriptions on the final day. The non-institutional investors (NIIs) segment was subscribed around 286 times of the shares on offer. The company had set aside 10.66 lakh shares for institutional investors and NIIs. The total demand was for 30.55 crore shares.

Similarly retail investors’ portion was subscribed around 404 times. As against 10.66 lakh shares on offer, bids for 43.10 crore shares were received, translating into an oversubscription of 404 times.

Rudra Gas Enterprise Ltd IPO details

Rudra Gas Enterprise Ltd IPO comprised a fresh issue of 22.48 lakh equity shares of the face value of ₹10 each. Of the total issue size, 11.6 lakh shares were reserved for the Market Maker portion. The net size of the issue was 21.32 lakh equity shares, aggregating to ₹13.43 crore.

The company was looking to raise a total of ₹14.16 crore through the IPO. Rudra Gas fixed the IPO price at ₹63 per share.

Rudra Gas Enterprise IPO lot size was fixed at 2,000 shares for retail investors. The minimum investment amount was ₹1,26,000.

The company has proposed to finance its working capital requirements and general corporate purposes from the IPO proceeds. It has proposed to spend ₹9.5 crore (67%) for funding working capital requirement and ₹3.24 crore for meeting general corporate purposes.

Beeline Capital Advisors Pvt Ltd was the lead manager of the IPO.

About Rudra Gas Enterprise Ltd

Rudra Gas Enterprise is involved in gas distribution network projects, fiber cable network, renting of construction machinery and vehicles.

The company provides end-to-end solutions for the city gas distribution sector. It provides services to a diverse set of entities within the city gas distribution and telecommunication industries. The major heads of its revenue are gas pipeline projects, fiber cable projects, renting of construction machinery and vehicles.

The company reported total revenue of ₹49.42 crore for the year ended on March 31, 2023, as against ₹43.83 crore in the preceding fiscal. Its net profit was ₹1.79 crore for the year ended March 31, 2023 as against ₹1.27 crore in the preceding fiscal.

As of October 31, 2023, the company’s order book stood at ₹327.83 crore, including orders at different stages of implementation.

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