Rudra Gas Enterprise Limited was founded in 2015 and is active in gas distribution network projects, fiber cable networks, construction equipment, and vehicle rental.
The company provides services in the fields of pipeline construction, civil works, and operation and maintenance of pipeline networks in city gas distribution. The company also provides services for the installation of fiber optic cables and their maintenance.
The company has three business verticals:
- Gas pipeline projects: These include the laying of pipelines for the distribution of city gas network and the construction of associated facilities such as CNG (compressed natural gas) stations, the construction, installation, testing, and commissioning of underground pipelines, maintenance, and repair facilities, the construction and installation of gas stations and their physical infrastructure such as pipelines, valves and stations required to carry out the works in accordance with the scope and specifications of the project. The company also provides comprehensive operation and maintenance services to city gas distribution companies(CGD).
- Fiber optic cable projects: This involves the development of special cables for the transmission of data using light signals.
- Rental of construction machinery and vehicles: This includes the rental of construction machinery and vehicles to subcontractors for specific projects.
The company's customers include companies in the city gas distribution and telecommunications sectors, both in the public and private sectors.
As of October 31, 2023, the company had 512 permanent employees on the payroll of the company.
| Purpose | Amount (₹ Cr) |
|---|---|
| To Meet Working Capital Requirements | — |
| General Corporate Purposes | — |
| Metric | 31 Oct 2023 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Total Assets | 4,345 | 3,381 | 2,805 |
| Revenue | 3,447 | 4,957 | 4,396 |
| PAT | 247 | 352 | 179 |
| Net Worth | 1,149 | 799 | 446 |
| Reserves | 540 | 774 | 421 |
| Total Borrowing | 1,990 | 1,738 | 1,380 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| NII / HNI | — | 1,066,000 (47%) | — |
| Retail (RII) | — | 1,066,000 (47%) | — |
| Market Maker | — | 116,000 (5%) | — |
| Total | — | 2,248,000 (100%) | — |
* Amount calculated at upper price band (₹63) · ** Total includes all investor categories
- 1 Initiation of Refund 14 Feb 2024
- 2 Credit of Shares to Demat 14 Feb 2024
- Retail allocation is strong at 47% of the total offering.
- HNI/NII demand is strong at 47%.
- The IPO P/E of 12x reflects a strong valuation relative to typical market ranges.
- Pre-issue EPS of ₹6 compares to post-issue EPS of ₹5 after dilution.
This IPO shows strong fundamentals and healthy investor demand. Research the business model and compare with sector peers before applying.
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