Thaai Casting IPO

The initial public offering (IPO) of Thaai Casting will open for subscription on February 15 and close on February 20, comprising fresh issues of Rs. 47.20 Cr. An investor can apply for the issue for a minimum of 1600 shares and the listing will happen on February 23, 2024. 

#1. Quick Intro to Thaai Casting   

Thaai Casting Limited (2010) is an automotive ancillary company specializing in high-pressure dies casting, as well as the precision machining of both ferrous and non-ferrous materials and induction heating and quenching. 

Check out the IPO allotment status on IPO Deliver.

#2. IPO Object of Thaai Casting   

The company intends to use the IPO Funds for the following purposes: 

1. To meet out the capital expenditure.
2. To meet out the general corporate purposes.
3. To meet out the issue expenses..

#3. Thaai Casting Core Strengths 

1. Continuous improvement (KAIZEN process).
2. Workforce Expertise.
3. Leadership excellence.
4. Production scalability.
5. Advance inspection systems.
6. Delivery commitment.
7. Specialized talent retention.

#4. Thaai Casting IPO Review & Rating

Issue Size	Rs.47.20 Crore
Issue Price	Rs.73 to Rs.77 per share
Minimum Lot Size	1600 Shares
Total Profit (March 2023)	Rs.503.71 Lakh
ROE	13
ROCE	1.85
Listing on	NSE SME
IPO Deliver Rating	THREE

 

#5. Thaai Casting IPO Dates, Price Band & Details

Thaai Casting IPO will open on February 15, 2024, and close on February 20, 2024. The IPO is to be listed on February 23, 2024.  

Type of issue	Book Built Issue IPO
Issue Size	Rs.47.20Crore
Price Brand	Rs.73 to Rs.77 per share
Face Value	Rs. 10/- per share
IPO Open Date	February 15, 2024
IPO Close Date	February 20, 2024
IPO Allotment Date	February 21, 2024
Refund Date	February 22, 2024
Share Credit Date	February 22, 2024
Listing Date	February 23, 2024

 

#6. Thaai Casting IPO Offer Details

Thaai Casting IPO’s total issue size is 6,129,600. shares, comprising the below-mentioned categories. 

Offer Category	Shares Offer	Amount (Crore)
Fresh Issue	6,129,600	47.20
Offer for Sale (OFS)	–	–

 

#7. Thaai Casting Financials Overview (Lakhs)

The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.

Category (Rs.)	March 31, 2023	March 31, 2022	March 31, 2021
Total Revenue	4,911.64	3,841.94	2,048.70
Net Worth	1,617.31	894.84	473.46
Profit	503.71	115.40	40.33
Total Borrowings	2,985.10	1,351.15	1,313.51

 

#8. Thaai Casting Quantitative Factors 

The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.

Category	March 31, 2023	March 31, 2022	March 31, 2021
EPS (Rs.)	2.96	0.68	0.24
RoNW (%)	40.10	16.87	8.49
NAV (Rs.)	9.51	5.26	2.79

 

#9. Thaai Casting Comparison with Other Peer Companies (Top 2)

Listed companies in India are comparable in all aspects of the business. 

Company Names	Total Revenue  (Rs. in Lakhs)	RoNW (%)	NAV (Rs.)
Endurance Technologies Limited	6,79,571.00	12.28	236.81
Electro Steel Casting Limited	7,01,253.00	7.84	718.17

 

#10. Thaai Casting Company Promoters 

The company has Three promoters as per the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP). 

Sr. No.	Name of Promoters
01.	Sriramulu Anandan
02.	Anandan Shevaani
03.	Chirag Venkatesan

 

#11. Thaai Casting Pre-offer and Post-Offer Promoters Shareholding

Promoters Holding	Percentage (%)
Pre-issue	86.50
Post-issue	–

 

#12. Thaai Casting IPO Reservation Details

Thaai Casting IPO total reservation shares are distributed between the below-mentioned categories. 

Category	Share Offered
QIB Shares Offered	1,156,800 (18.87%)
Retail Shares Offered	2,024,000 (33.02%)
NII (HNI) Shares Offered	867,200 (14.15%)
Anchor Investor Shares Offered	1,734,400 (28.30%)
Market Maker Shares Offered	347,200 (5.66%)
Total Shares Offered	6,129,600 (100%)

 

#13. Thaai Casting  IPO – Lot Size

An investor can apply for a minimum of 1600 Shares in multiple thereof. Market lot sizes for the retail individual investors and non-institutional investor (NII)/ HNI investors are as follows:

Application	Lot Size	No. of Shares	Amount (Rs.)
Retail (Min.)	1	1600	123,200
Retail (Max.)	1	1600	123,200
HNI (Min.)	2	3,200	246,400

 

#14. Thaai Casting IPO – Prospectus Copy

An investor can download/view the Thaai Casting prospectus copy, which the company filed to exchange, details are as follows. 

Thaai Casting IPO Prospectus

Draft Red Herring Prospectus (DRHP)

Red Herring Prospectus (RHP)

 

#15. Thaai Casting IPO Registrar 

Purva Sharegistry (India) Private Limited

Phone No.: +91-022-49614132

E-Mail: support@purvashare.com

Website: www.purvashare.com

#16. Thaai Casting IPO Lead Manager

Gyrcapital Advisors Private Limited

Phone No.: +91-8777564648

E-Mail: info@gyrcapitaladvisors.com

Website: www.gyrcapitaladvisors.com

#17. Thaai Casting IPO Application (How to Apply for an IPO)

There are three primary options for applying for a Thaai Casting  IPO, details are as follows: 

Option-1 Apply for IPO through Internet Banking

Step-1. Log into your bank account.

Step-2. In the invest Tab, you will see ASBA, click on it.

Step-3. Choose to apply for IPO and select the ongoing IPO “Thaai Casting    Limited”

Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment. 

Step-5. After the above steps, the respective amount will get blocked until the allotment date, and after that, it will get a refund/debited in case of rejection/allotment respectively. 

Option-2 Apply for IPO through a Broker firm

Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)

Step-2. Click on the IPO tab and select the ongoing IPO “Thaai Casting    Limited”

Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.

Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will be debited from your account or refunded if no allotment is made to you. 

Option-3 Apply for IPO Offline Mode Bank mode

Step-1. Visit the nearest branch of your bank.

Step-2. Fill out the ASBA form and submit it with KYC details. 

Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will be debited from your bank account or refunded if no allotment is made to you. 

#18. Thaai Casting Company Details

Thaai Casting Limited 

Registered Office: No. A-20 SIPCOT Industrial Park, 7th Cross Street, Pillaipakkam, Tiruvallur, Tamil Nadu, 602105

Phone No: +91-7904650127

Email: cs@thaaicasting.com

Website: www.thaaicasting.com

Investor Grievances/Compliance Officer: Rajesh Kumar Samal 

#19. Thaai Casting Subsidiary Companies (Top 2)

Sr.No.	Name of Companies (Indian)
01.	Thaai Induction and Nitriding Private Limited
02.	–

 

#20. Thaai Casting Company Board (Top 2)

Sr. No.	Name of Directors
01.	Anandan Sriramulu
02.	Shevaani Anandan

 

Thaai Casting  IPO – Frequently Asked Questions (FAQs)

#1. What is a Thaai Casting IPO? Thaai Casting brings its IPO of Rs.47.20 Crore, on February 15, 2024, with a price band of Rs.73 to Rs.77 per share.

 

#2. What is the Thaai Casting IPO Open date? Thaai Casting  IPO’s opening date is February 15, 2024.

 

#3. What is the Thaai Casting IPO Close Date? Thaai Casting  IPO’s closing date is February 20, 2024.

 

#4. What is the Thaai Casting IPO Listing date? Thaai Casting’s IPO listing date is February 23, 2024.

 

#5. What is the Thaai Casting IPO Minimum investment amount? Thaai Casting IPO’s minimum investment amount is Rs. 123,200.

 

#6. What is the Thaai Casting IPO offer issue Size? Thaai Casting offers an issue size of Rs.47.20 Crore.

 

#7. What is the Thaai Casting IPO Price Band? Thaai Casting’s IPO price band is Rs.73 to Rs.77 per share.

 

#8. Is Thaai Casting IPO mainboard IPO or SME IPO? Thaai Casting IPO is a SME IPO.