Thaai Casting Ltd IPO Timeline

Thaai Casting Ltd IPO opens on 15-Feb-2024, and closes on 20-Feb-2024. The Thaai Casting Ltd IPO bid date is from 15-Feb-2024 to 20-Feb-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Thaai Casting Ltd IPO Opening Date 15-Feb-2024
Thaai Casting Ltd IPO Closing Date 20-Feb-2024
Basis of Allotment 21-Feb-2024
Initiation of Refunds 21-Feb-2024
Credit of Shares to Demat 22-Feb-2024
Thaai Casting Ltd IPO Listing Date 23-Feb-2024

Thaai Casting Ltd IPO Lot Size

Thaai Casting Ltd IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or 123200).

Application Lots Shares Amount
Minimum 1 1600 ₹123200
Maximum 1 1600 ₹123200

Thaai Casting Ltd IPO Details

Thaai Casting Ltd IPO Date 15-Feb-2024 to 20-Feb-2024
Thaai Casting Ltd IPO Face Value Shares of ₹10 per share
Thaai Casting Ltd IPO Price ₹73 to ₹77 per share
Thaai Casting Ltd IPO Lot Size 1600
Issue Size Shares of ₹10 (aggregating up to ₹47.2 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹47.2 Cr)
Offer for Sale -
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Sriramulu Anandan, Anandan Shevaani, Chinraj Venkatesan.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Capital Expenditure
  • 2 General Corporate Purposes

Company Financials

Thaai Casting Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 135.06 71.09 10.66
10-2023 81.89 28.89 5.57
Amount in ₹ Crore
    -
  • Its the company is heavily dependent on the performance of the automotive sector in India, particularly the market for four-wheelers in India. Any adverse changes in the conditions affecting these markets can adversely impact its business, results of operations and financial condition.
  • The company is dependent on the performance of the non-automotive, wind power, construction & instrumentation sector in India, any adverse changes in the conditions affecting these markets can adversely impact its business, results of operations and financial condition.
  • An increase in the cost of or a shortfall in the availability of raw materials could have an adverse effect on its business, results of operations and financial condition.
  • The company is heavily dependent on certain suppliers for procurements of raw materials. Any disruption of supply from such entities may affect its business operation.
  • Its revenues are highly dependent on its operations in geographical region of state of Tamil Nadu. Any adverse development affecting its operations in this region could have an adverse impact on its business, financial condition and results of operations.
  • The company completed its conversion from a Partnership firm to a public limited company on June 12, 2023. However, the accounts of the partnership firm were subsequently closed on July 31, 2023.
  • The company depends on third parties for the supply of raw materials and delivery of products and such providers could fail to meet their obligations, which may have a material adverse effect on its business, results of operations and financial condition.
  • The company is highly dependent on its management team and certain management personnel, Any loss of such team members or the inability to attract or retain research and development personnel may materially adversely affect its business performance and research and development efforts.
  • Its failure to identify and understand evolving industry trends and preferences and to develop new products to meet its customers' demands may materially adversely affect its business.
  • Any slowdown or work stoppages at its project sites may have effect on its business, financial condition and results of operations.
  • The company is currently facing outstanding demands under the Income Tax Act and TDS defaults.
  • The company completed its conversion from a Partnership firm to a public limited company on June 12, 2023. However, the accounts of the partnership firm were subsequently closed on July 31, 2023.
  • The discontinuation of, the loss of business with respect to, or a lack of commercial success of, a particular vehicle model for which the company is a significant supplier could affect its business and results of operations.
  • Its individual Promoters plays key role in its functioning and the company heavily relies on their knowledge and experience in operating its business and therefore, it is critical for the company's business that its Promoter and Executive Directors remain associated with it. The company success also depends upon the services of its key managerial personnel and its ability to attract and retain key managerial personnel and its inability to attract them may affect the company operations.
  • Any slowdown or work stoppages at its project sites may have effect on its business, financial condition and results of operations.
  • There are outstanding legal proceedings involving the Company. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
  • Its may be unable to grow the company's business in international markets, which may adversely affect its business prospects and results of operations.
  • Any failure in its quality control processes may adversely affect the company's business, results of operations and financial condition. Its may face product liability claims and legal proceedings if the quality of its products does not meet its customers' expectations.
  • The company does not have firm commitment agreements with its customers. If its customers choose not to source their requirements from it, its business and results of operations may be adversely affected.
  • Any non-compliance or delays in GST Return Filings and EPF Payments may expose it to penalties from the regulators.
  • The company has significant power requirements for continuous running of its manufacturing units. Any disruption to its operations on account of interruption in power supply or any irregular or significant hike in power tariffs may have an effect on its business, results of operations and financial condition.
  • Its ability to attract, train and retain executives and other qualified employees is critical to its business, results of operations and future growth.
  • The company has identified certain agreements executed in the past that contain inaccuracies.
  • The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
  • The company is dependent on third party transportation providers for delivery of raw materials to it from its suppliers the company has not entered into any formal contracts with its transport providers and any failure on part of such service providers to meet their obligations could adversely affect its business, financial condition and results of operation.
  • Its failure to compete effectively in the highly competitive automotive components industry could result in the loss of customers, which could have an adverse effect on its business, results of operations, financial condition and future prospects.
  • An inability to comply with repayment and other covenants in the financing agreements or otherwise meet its debt servicing obligations could adversely affect its business, financial condition, cash flows and credit rating.
  • The Company has availed certain unsecured loans.
  • The company has significant power requirements for continuous running of its manufacturing units. Any disruption to its operations on account of interruption in power supply or any irregular or significant hike in power tariffs may have an effect on its business, results of operations and financial condition.
  • Its operating results could be adversely affected by weakening of economic conditions due to lock-down in all parts of India and other parts of world & other situation due to pandemic Covid-19.
  • The company has identified certain agreements executed in the past that contain inaccuracies.
  • The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
  • The company is subject to performance risk from third-party contractors, and operational risks associated with the engagement of third-party contractors and its employees.
  • Its business is manpower intensive and any unavailability of its employees or shortage of contract labour or any strikes, work stoppages, increased wage demands by workmen or changes in regulations governing contractual labour may have an adverse impact on its cash flows and results of operations.
  • The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
  • Its may be unable to adequately protect its intellectual property and may be subject to risks of infringement Claims.
  • The company requires certain approvals and licenses in the ordinary course of business and the failure to successfully obtain/renew such registrations would adversely affect its operations, results of operations and financial condition.
  • Its Promoters and Executive Directors hold Equity Shares in the Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
  • Further, pursuant to Section 27 of the Companies Act 2013, any variation in the objects would require a special resolution of the Shareholders and its Promoters or controlling Shareholders will be required to provide an exit opportunity to the Shareholders of the Company who do not agree to such proposal to vary the objects, in such manner as may be prescribed in future by the SEBI.
  • The average cost of acquisition of Equity Shares held by the Promoters could be lower than the Issue Price.
  • The requirement of funds in relation to the objects of the Issue has not been appraised.
  • The deployment of funds is entirely at its discretion and as per the details mentioned in the chapter titled "Objects of the Issue".
  • Its funding requirements and proposed deployment of the Net Proceeds are based on management estimates and have not been independently appraised, and may be subject to change based on various factors, some of which are beyond its control.
  • The requirements of being a public listed company may strain its resources and impose additional requirements.
  • Its insurance coverage may not be adequate to protect it against all potential losses to which the company may be subject and this may have a material effect on its business and financial condition.
  • Non-compliance with amendment in Safety, Health and Environmental laws and other applicable regulations, may adversely affect the Company's results of operations and its financial condition.
  • The company has not independently verified certain data in this Red Herring Prospectus.
  • Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
  • The company will continue to be controlled by its Promoter and Promoter Group after the completion of the Issue, which will allow them to influence the outcome of matters submitted for approval of its shareholders.
  • The company is susceptible to risks relating to unionization of its employees employed by it.
  • Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by its major shareholders may adversely affect the trading price of its Equity Shares.
  • Its inability to effectively implement its business and growth strategy may have an adverse effect on its operation and growth.
  • In the event there is any delay in the completion of the Offer, or delay in schedule of implementation, there would be a corresponding delay in the completion of the objects of this offer which would in turn affect its revenues and results of operations.
  • There are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
  • There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the Emerge Platform of National Stock Exchange of India Limited in a timely manner, or at all.
    -

Thaai Casting Ltd IPO Promoter Holding

Pre Issue Share Holding 83.17%
Post Issue Share Holding 61.13%

Thaai Casting Ltd IPO Subscription Status (Bidding Detail)

The Thaai Casting Ltd IPO is subscribed 247.9911 times on Feb 20, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 247.9911

Thaai Casting Ltd IPO Prospectus

Thaai Casting Ltd IPO Listing Date

Listing Date 23 Feb 24
BSE Script 92605
NSE Symbol TCL
Listing In NSE - SME
ISIN INE0QJL01014
IPO Price ₹77
Face Value ₹10

Thaai Casting Ltd IPO Registrar

Purva Sharegistry (India) Pvt

Phone: +91-022-4961-4132,022-31998810
Email: support@purvashare.com
Website: www.purvashare.com

Thaai Casting Ltd IPO Lead Manager(s)

  1. GYR Capital Advisors Pvt Ltd

FAQs on Thaai Casting Ltd IPO

Thaai Casting Ltd IPO, which opens for subscription from 15-Feb-2024 to 20-Feb-2024 has an issue size of ₹47.2 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Thaai Casting Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Thaai Casting Ltd IPO Opens for subscription from 15-Feb-2024 to 20-Feb-2024.

The lot size of Thaai Casting Ltd is 1600 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹123200 and ₹123200 respectively.

Allotment date for Thaai Casting Ltd is 21-Feb-2024 and refund of application amount (in case allotment is not received) will begin from 21-Feb-2024. If your allotment goes through, then shares will be credited in your Demat account by 22-Feb-2024.

The registrar for Thaai Casting Ltd IPO is Purva Sharegistry (India) Pvt. You can check your IPO allotment status on the registrar's website.

The shares of Thaai Casting Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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