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:
- To meet out the capital expenditure.
- To meet out the general corporate purposes.
- To meet out the issue expenses..
#3. Thaai Casting Core Strengths
- Continuous improvement (KAIZEN process).
- Workforce Expertise.
- Leadership excellence.
- Production scalability.
- Advance inspection systems.
- Delivery commitment.
- 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. |