Discover everything you need to know about Resourceful Automobile’s IPO, including key dates, pricing, and allotment details.
Resourceful Automobile has published that its IPO is going to be open on 22nd August and will end on 26th August. It is a dynamic company specializing in innovative automotive solutions and services. The company aims to gather INR 11.99 crore with a fixed price band of INR 117 per share, a face value of INR 10 per share, and a market lot of 1,200 shares.
Table of Contents
- Company Overview
- Company Strategy
- Details on IPO Date and Price Band
- IPO Objective
- Market Lot Information on Resourceful Automobile
- Allotment Dates for Resourceful Automobile
- Application Process of IPO
- Financial Analysis of Company
- IPO Valuation
- Competitor Analysis
- Promoters And Management
- Registrar for Resourceful Automobile
- Offer Lead Manager
- Company Address
Company Overview
Resourceful Automobile is a forward-thinking company dedicated to providing cutting-edge automotive solutions and services. With a focus on innovation and quality, the company offers a wide range of products including advanced vehicle components, maintenance services, and custom automotive solutions. Leveraging state-of-the-art technology and industry expertise, Resourceful Automobile aims to enhance vehicle performance, safety, and efficiency. Their commitment to customer satisfaction and continuous improvement positions them as a leader in the automotive sector, catering to both individual and commercial clients with tailored solutions that meet the evolving demands of the industry.
Company Strategy
Resourceful Automobile’s corporate and business strategy centers on expanding market reach and improving operational efficiency. This includes strategically opening new showrooms, particularly in the Delhi/NCR region, to grow its customer base. The company will allocate a significant portion of funds raised to repay existing debt, thereby improving financial health and freeing up resources for future growth. Optimizing working capital is crucial for maintaining smooth operations and supporting day-to-day expenses. Additionally, Resourceful Automobile is focused on strengthening its brand by delivering quality service and offering a diverse product range to meet various customer preferences.
Details on IPO Date and Price Band
| IPO Open: | August 22, 2024 |
| IPO Close: | August 26, 2024 |
| IPO Size: | Approx INR 11.99 Crores (10,24,800 Equity Shares) |
| Face Value: | INR 10 Per Equity Share |
| IPO Price Band: | INR 117 Per Equity Share |
| IPO Listing on: | BSE SME |
| Retail Quota: | 50% |
| QIB Quota: | N/A |
| NII Quota: | 50% |
IPO Objective:
The primary objective of Resourceful Automobile’s IPO is to facilitate the company’s expansion by opening new showrooms in the Delhi/NCR region, thereby enhancing its market presence. The funds will also be used to repay existing debt, improving financial stability and freeing up resources for growth initiatives. Additionally, the IPO aims to meet incremental working capital requirements essential for smooth operations and supporting day-to-day expenses. A portion of the proceeds will be allocated to general corporate purposes and to cover public issue expenses, ensuring efficient deployment of capital and strengthening the company’s financial position.
Market Lot Information on Resourceful Automobile
The lot size and corresponding amounts are as follows:
- Retail Minimum: 1 lot (1,200 shares) for INR 1,40,400
- Retail Maximum: 1 lot (1,200 shares) for INR 1,40,400
- S-HNI Minimum: 2 lots (2,400 shares) for INR 2,80,800
Allotment Dates for Resourceful Automobile IPO
Resourceful Automobile’s open date is August 22 and the IPO close date is August 26. The IPO allotment date is August 27 and the listing date is August 29.
| IPO Open Date: | August 22, 2024 |
| IPO Close Date: | August 26, 2024 |
| Basis of Allotment: | August 27, 2024 |
| Refunds: | August 28, 2024 |
| Credit to Demat Account: | August 28, 2024 |
| IPO Listing Date: | August 29, 2024 |
Application Process of IPO
The IPO can be accessed by submitting an application through the online ASBA (Application Supported by Blocked Amount) facility from the bank through ‘Internet banking’, going to ‘Invest’, and applying for the Resourceful Automobile. On the other hand, the IPO forms are also available for download on the BSE websites which the candidates can fill and submit.
Financial Analysis of the Company
Financials in INR Crore.
| Year | Revenue | Expense | PAT |
| 2021 | 11.27 | 11.26 | 00.01 |
| 2022 | 12.50 | 12.11 | 0.29 |
| 2023 | 19.38 | 18.78 | 0.42 |
| Feb 2024 | 17.24 | 15.19 | 1.5 |
Resourceful Automobile’s financial performance shows steady growth in revenue and profitability. Revenue increased from ₹11.27 crore in 2021 to ₹19.38 crore in 2023, with a slight decline to ₹17.24 crore by February 2024. Expenses have risen correspondingly, from ₹11.26 crore in 2021 to ₹18.78 crore in 2023, and ₹15.19 crore in early 2024. Despite higher expenses, Profit After Tax (PAT) improved significantly, growing from ₹0.01 crore in 2021 to ₹0.42 crore in 2023 and reaching ₹1.50 crore by February 2024, reflecting enhanced operational efficiency and profitability.
IPO Valuation (FY 2024)
The company’s EPS stands at a value of INR 4.27 with a Net Asset Value (NAV) of INR 16.81 per equity share, a P/E ratio of 13.12, and a RoNW of 38.01% in the financial year 2024 The IPO price band range of INR 84, with an issue of 10,11,200 equity shares to raise INR 8.49 crore and a face value of INR 10 per share to meet working capital requirements and to fund general corporate purposes.
| Earnings Per Share (EPS): | ₹4.27 per Equity Share |
| Price/Earning P/E Ratio: | 4.06 |
| Return on Net Worth (RoNW): | 25.37% |
| Net Asset Value (NAV): | ₹16.81 per Equity Share |
Competitor Analysis
Here are some competitors of Rapid Multimodal Logistics
Chartered Logistics Limited
Chartered Logistics Limited is a logistics provider and supply chain management company focused on transportation services. The company has services in all modes of transportation including road, railway, and air freight, and offers integrated logistics solutions for each industry type. Intending to bring value to customers in terms of logistics costs and delivery time responsiveness, its strategy focuses on improving the supply chain and flows. Additionally, its commitment to innovation and excellent service sets the company up as a competitor within the logistics market.
Shree Vasu Logistics Limited
Shree Vasu Logistics Limited is a logistics company dealing with many transport and supply chain services. It offers transportation through road, storage, and distribution by covering the various industries. It intends to provide the best solutions to manage and improve the supply chains so that the consignment moves efficiently to its intended destination. With a well-seasoned understanding of various logistics processes and an attitude toward ensuring customer satisfaction, the company is strategically placed to transform the logistics and transportation industry.
Promoters And Management
- Mr. Narayan Agarwal
- Mr. Manoj Goel
- Summit Agarwal
- Ms. Nidhi Agarwal
Offer Lead Manager
Gretex Corporate Services Limited
Gretex Corporate Services Limited is a company that deals with financial and corporate advisory services. Some of the services that it provides include investment banking, financial advisory, mergers and acquisitions, and restructuring advisory. They specialize in advisory services for various companies and shareholders such as assisting in financial planning and management, determining the most effective capital structure, and reaching various business objectives. The firm focuses on providing relevant and actualized recommendations to meet the client’s specific needs, and therefore, offers to be a consultant in the financial and corporate industries.
Conclusion
Resourceful Automobile’s IPO offers an exciting opportunity for investors to be part of a forward-thinking company in the automotive sector. Scheduled from August 22 to August 26, 2024, the IPO aims to raise INR 11.99 crore with shares priced at INR 117 each. The funds will be utilized for expanding market reach, reducing debt, and enhancing operational efficiency. With a clear strategy for growth and a focus on innovation, Resourceful Automobile is poised to make a significant impact on the automotive industry, making this IPO one to watch.
