Thaai Casting IPO GMP – Open and Close Date, Reservation, How to apply?

The Thaai Casting IPO is set to open for subscription on February 15, 2024, with allotment results on Feb 20, generating interest among investors. Listing on NSE SME is slated for Feb 22, 2024, and price bands are pending announcement.

Thaai Casting IPO GMP

The subscription window for the Thaai Casting IPO begins on February 15, 2024, and concludes on February 19, 2024. 

IPO DateFebruary 15, 2024 – February 19, 2024
Listing DateNot announced yet
Face Value₹10 per share
Price BandTo be announced
Lot SizeNot announced yet
Total Issue Size6,129,600 shares (aggregating up to ₹[.] Cr)
Fresh Issue6,129,600 shares (aggregating up to ₹[.] Cr)
Issue TypeBook Built Issue
ListingNSE SME
Shareholding Pre-Issue17,000,000 shares
Shareholding Post-Issue23,129,600 shares
Market Maker Portion347,200 shares (Giriraj Stock Broking)

The allotment results are anticipated to be determined by Tuesday, February 20, 2024. Thaai Casting IPO is scheduled to be listed on NSE SME, with the tentative listing date set for Thursday, February 22, 2024.

Thaai Casting IPO GMP

The official Grey Market Premium (GMP) for the Thaai Casting IPO is unavailable. It typically emerges closer to the subscription date, which begins on February 15th, 2024.

Thaai Casting IPO Date

Pre-IPO Phase:

  • October 27, 2023: SEBI approves the DRHP (Draft Red Herring Prospectus) for the IPO.
  • February 09, 2024: Red Herring Prospectus filed with SEBI, containing finalised details like issue size and price band.
  • February 10-14, 2024: Book building process for institutional investors takes place.

Subscription Phase:

  • February 15, 2024: The IPO opens for subscription by retail investors and remains open until:
  • February 19, 2024: The IPO closes at 5:00 PM IST.
  • Important: Ensure UPI mandate confirmation for ASBA applications by 5:00 PM on February 19th.

Post-Subscription Phase:

  • February 20, 2024: Basis of share allotment is finalised and announced.
  • February 21, 2024: Unsuccessful applicants receive refunds credited to their bank accounts.
  • February 21, 2024: Allotted shares are credited to the demat accounts of successful applicants.

Listing Phase:

  • February 22, 2024 (Tentative): Thaai Casting shares are expected to debut on the NSE SME platform. This date is tentative and subject to change.

Thaai Casting IPO Reservation

The Thaai Casting IPO follows a specific reservation system for different investor categories, ensuring balanced participation. Here’s a detailed breakdown:

QIB (Qualified Institutional Buyers):

  • Offered: Not more than 50% of the Net Issue
  • This category includes:
    • Mutual Funds
    • Foreign Institutional Investors (FIIs)
    • Insurance Companies
    • Banks
    • Other Institutional Investors

Retail Individual Investors:

  • Offered: Not less than 35% of the Net Issue
  • This category includes:
    • Individual investors applying for up to ₹2 lakh worth of shares

Non-Institutional Investors (NII):

  • Offered: Not less than 15% of the Net Issue
  • This category includes:
    • High Net-worth Individuals (HNIs) applying for more than ₹2 lakh worth of shares

Thaai Casting IPO Promoter Holding

Promoters:

  • Sriramulu Anandan
  • Anandan Shevaani
  • Chinraj Venkatesan

Pre-Issue Shareholding:

  • 86.50% of the company’s shares

Post-Issue Shareholding (Calculation):

  • Total Issue Size Unknown: The total number of shares offered in the IPO, crucial for calculating dilution, is not publicly available yet.
  • Depending on the Offer Details: The final promoter holding depends on whether they participate in the fresh issue and the proportion of their investment.
  • Based on the 86.50% pre-issue holding, promoters will still hold a significant stake after the IPO.
  • The final percentage will depend on the total issue size and their participation in the fresh issue.

How to apply for THAI Casting IPO?

Through your broker:

  • Log in to your online brokerage platform.
  • Locate the IPO section and search for “Thaai Casting IPO” (if applicable).
  • Enter the desired number of shares and confirm your application.
  • UPI/ASBA blocks funds in your bank account, with share allotment through a lottery system.
  • Upon allotment, credited shares and released blocked funds; unallotted funds refunded.

Thaai Casting Ltd Financial Information 2024 (Restated Standalone)

Here are some key points about Thaai Casting Ltd’s financial information:

Financial Performance:

  • Revenue Growth: Revenue increased by 27.84% from ₹3,841.94 Crore in FY2022 to ₹4,911.64 Crore in FY2023.
  • Profit Growth: Profit after tax (PAT) saw a significant jump of 336.49%, going from ₹115.40 Crore in FY2022 to ₹503.71 Crore in FY2023.
  • Profitability Margin: PAT margin (PAT as a percentage of Revenue) increased from 3% in FY2022 to 10.25% in FY2023. This suggests increased profitability and operational efficiency.

Financial Stability:

  • Net Worth: Increased by 44.21% from ₹894.84 Crore in FY2022 to ₹1,617.31 Crore in FY2023, suggesting a stronger financial position.
  • Total Debt: Increased by 57.82% from ₹2,351.15 Crore in FY2022 to ₹4,410.07 Crore in FY2023. 

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