Incorporation in 2015, Rite Zone Chemcon India Limited deals in a range of construction chemicals and concrete products. The company offers complete construction solutions by supplying a complete range of various chemical products related to civil construction, infrastructure, building & structure including pre-construction or post construction as well as supplying all types of concrete required for construction and infrastructure developments.
The company’s products include Concrete Admixture, Water Proofing Systems, Concrete Lubricators, Engineering Grouts, Industrial Flooring, Concrete Repairs, Curing Compound & Mould Release Agents, Surface Treatment, Tiling & Block Products.
Rite Zone Chemcon India Limited outsource the chemical products production to a third-party manufacturer. The company has also tied up with concrete manufacturers in Maharashtra for concrete production.
Strengths:
- Wide product portfolio with a focus on quality.
- Quality Assurance and customer satisfaction.
- Asset Light business model with low fixed overheads.
- R&D set up for constant product improvement and new product development.
- Longstanding customer relationships leading to increased business opportunities.
- Existing committed workforce.
Company Financials
| Period Ended | Total Assets | Total Revenue(Lakhs) | Profit After Tax(Lakhs) | Net Worth(Lakhs) | Reserves and Surplus(Lakhs) | Total Borrowing(Lakhs) |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 666.83 | 574.77 | 15.89 | 62.53 | 61.53 | 258.12 |
| 31-Mar-21 | 677.87 | 384.21 | 0.69 | 63.26 | 62.26 | 329.3 |
| 31-Mar-22 | 1039.27 | 565.73 | 26.21 | 502.36 | 198.86 | 106.24 |
| 30-Sep-22 | 1240.92 | 1036.34 | 17.48 | 519.85 | 216.34 | 97.36 |
Objects of the Issue
The company intend to utilize the proceeds of the Issue to meet the following objects:
1. To part finance the Working Capital Requirements.
2. General Corporate Purposes.
3. To meet Issue Expenses.
Rite Zone Chemcon IPO Details
| IPO Date | Oct 31, 2022 to Nov 2, 2022 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹75 per share |
| Lot Size | 1600 Shares |
| Issue Size | 1,195,200 shares of ₹10 (aggregating up to ₹8.96 Cr) |
| Fresh Issue | 1,195,200 shares of ₹10 (aggregating up to ₹8.96 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| NII (HNI) Shares Offered | 50% of the net offer |
| Retail Shares Offered | 50% of the net offer |
| Company Promoters | Mr. Bhavesh Babulal Bhandari and Mrs. Arti Bhavesh Bhandari are the company promoters. |
Rite Zone Chemcon IPO Tentative Timetable
Rite Zone Chemcon IPO opens on Oct 31, 2022, and closes on Nov 2, 2022. The Rite Zone Chemcon IPO bid date is from Oct 31, 2022 10.00 A.M. to Nov 2, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Oct 31, 2022 |
| Closing Date | Nov 2, 2022 |
| Basis of Allotment | Nov 7, 2022 |
| Initiation of Refunds | Nov 9, 2022 |
| Credit of Shares to Demat | Nov 10, 2022 |
| Listing Date | Nov 11, 2022 |
Rite Zone Chemcon IPO Lot Size
The Rite Zone Chemcon IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹120,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹120,000 |
| Retail (Max) | 1 | 1600 | ₹120,000 |
Rite Zone Chemcon IPO Promoter Holding
| Pre Issue Share Holding | 58.39% |
| Post Issue Share Holding |
Rite Zone Chemcon IPO Review
RZCIL is in a highly competitive and fragmented segment. It has priced the IPO exorbitantly even on the basis of its super earnings. A small equity base post-IPO indicates s longer gestation period for migration to the mainboard. There is no harm in skipping this pricy issue.
Company Contact Information
Rite Zone Chemcon India Ltd
Row House 11,
Beverly Park, Row House CHS Ltd
Mira Road Thane- 401107
Phone: +91 22 6884 9680
Email: cs@ritezone.in
Website: http://www.ritezone.in/
Rite Zone Chemcon IPO Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/