Ratnabhumi Developers Limited is engaged in real estate and construction business. It is Ahmadabad Gujarat based company. The main business of the company’s activities was selling and marketing of its commercial offices and shops constructed in their project Turquoise. This company will start their journey in the IPO market from the first week of December. We will be finding out the investment advantages and disadvantages in this issue through this Ratnabhumi Developers Limited IPO review. We will also check the draft red herring prospectus of this issue to discuss the date, price, allocation data of this new issue.
About Ratnabhumi Developers Limited IPO :
- IPO Opens on – December 4,2017.
- IPO Closes on – December 6,2017.
- Face Value – Rs 10 Per Equity Share.
- Issue Price – Rs 63 Per Equity Share.
- Issue Type – Fixed Price Issue IPO.
- Market Lot – 2000 Shares.
- Minimum Order Quantity – 2000 Shares.
- Issue Size – 3,700,000 Equity Shares of Rs 10 aggregating up to Rs 23.31 Cr .
- Listing Exchange – BSE SME exchange.
- Draft Prospectus – Download.
Objectives of the issue:
- Acquisition of Land/Plot of Land and other strategic Initiatives.
- Capital Contribution towards 45% stake in Rajul Projects LLP – Project Ratna Artemus II- Paldi, Ahmedabad.
- General Corporate Purpose.
- Meeting Public Issue Expenses.
About The Company –
- Ratnabhumi Developers Limited is a global consultancy, technology, outsourcing services providing company.
- They are a team of experts who share a passion for applying innovation and technology to enable us to become a successful company.
- This company’s a part from selling and marketing of its commercials offices and shops, they have rented their shops, offices and spaces in the Project Turquoise to corporate clients for their business, commercials, advertisement and installing network equipment.
- This company deliver their customers what they expect – THE BEST.
- The business of this company offers Innovative, modular & integrated, efficient & cost-effective solutions tailored to suit clients’ requirements and thereby increase their ROI.
- Ratnabhumi Developers Limited deliver the services using the best talented and efficient resources from the industry.
- They are currently catering the services to our customers across the globe.
Promoters of the company :
- Mr. Kaivan Shah.
- Mrs. Meghna Shah.
Name of shareholders :
- Mr. Munir Shah.
- Mr. Kaivan Shah.
- Mr. Mahendrabhai Shah.
- Mr. Dilipbhai Patel.
- Ms. Avantika Patel.
- Mr. Mandhukanta Patel.
- Mr. Vivrat Patel.
- Mr. Shaileshbhai Patel.
- Mr. Pravinbhai Patel.
- Mr. Mahendrabhai Patel.
- Mr. Hitesh Patel.
- Bhaskar Mangalbhai Harjibhai HUF.
- Ms. Dhartibala Patel.
- Khetani Dineshkumar Bhupatlal- HUF.
- Mr. Khetani Bhupatlal.
Ratnabhumi Developers Limited IPO Review: The financial data shows inconsistent profit performance mostly running in a sine curve. The FY 2013 the company has shown a profit of Rs. 120.53 lacs, which has become Rs. 31.18 Lacs in FY 2014. Profits again climbed to Rs. 108.99 lacs on next year, Rs. 158.64 lacs on FY 2016 and again plunged to Rs. 135.02 lacs on FY 2017. So the profitability is not at all in the same line, though the turnover has increased almost year after year. This may be due to the lack of debt management by the company. Hence our Ratnabhumi Developers Limited IPO review has the pure NEUTRAL view on this issue. Invest only if you have surplus cash and can manage to take the risk for the medium term.