Rithwik Facility Management Services Limited IPO Review

Rithwik Facility Management Services Limited is providing integrated facilities, equipment and assets management and property management. It is  Chennai, Tamil Nadu based company. The services of this company including managing the security of the building, common area housekeeping, water supply system management, operation of all types of equipment of the Building, AMC of amenities such as lifts, generators, chiller plants, AHUs, air conditioners etc. They are coming up with their public issue to hit the BSE SME Exchange. Let us go through the Rithwik Facility Management Services Limited IPO review and check the date, proce, allocation data and analyze the draft prospectus.

About Rithwik Facility Management Services Limited IPO :

  • IPO Opens on – December 29,2017.
  • IPO Closes on – January 3,2018.
  • Face Value – Rs 10 Per Equity Share.
  • Issue Price – Rs 50 Per Equity Share.
  • Issue Type – Fixed Price Issue IPO.
  • Market Lot – 3000 shares.
  • Minimum Order Quantity – 3000 shares.
  • Issue Size – 810,000 Equity Shares of Rs 10 aggregating up to Rs 4.05 Cr.
  • Listing Exchange – BSE SME exchange.
  • Draft Prospectus – Click Here.

Objectives of the issue:

  • Meeting Additional Working Capital Requirements.
  • Issue Expenses.

About The Company –

  • Rithwik Facility Management Services Limited is incorporated in 2010.
  • This company is also engaged in the business of billing management including raising of maintenance and energy invoices and managing collections.
  • Rithwik Facility Management Services Limited get majority of its revenue from this segment.
  • This is a bulk business for the company.
  • This company offers these services to corporate customers and developers in Chennai and Coimbatore.
  • The company utilizes latest technologies as well as process that allows companies to reduce their operational costs and also to improve the life cycles of equipment and property it manages.
  • This company has over 88 employees.
  • The products or services of this company include Property Management / Facilities Management, Real Estate and other Asset Management and Maintenance, Billing and Collection Services.

Rithwik Facility Management Services Limited

Promoters of the company :

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  • Rithwik Rajshekar Raman, aged 23 years, is one of the Chairman, Managing Director and Promoter of this company.
  • Niranjan Vyakarna Rao, aged 50 years, is the Whole Time Director of this Company.

Company Financials:

Rithwik Facility Management Services Limited IPO

Rithwik Facility Management Services Limited IPO Review: The company started with a net loss on the financial year 2013. Then they posted a rising profit trend in FY 2014 and FY 2015. But again on FY 2016, the profitability has decreased and finally, again profitability has increased on FY 2017. Hence, the financial data is inconsistent. However at the issue price of Rs. 50, we feel the price is on the higher side and our Rithwik Facility Management Services Limited IPO review posts a NEUTRAL view on this issue.

Ankita has done her Diploma Engineering in Computer Science & Technology. She is pursuing her degree in Engineering and also well experienced in the equity market and real estate related content writing. She is the one who has developed the technical indicators section of our site.

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