Thaai Casting Limited is an auto parts manufacturer headquartered in Tamil Nadu, India. They specialize in die casting components for passenger vehicles, commercial vehicles, and two-wheelers. Their key products include cylinder heads, engine blocks, and transmission housings.
The company recently underwent an initial public offering (IPO) on NSE SME. Let’s delve into the details of the IPO:
Thaai Casting Limited SME IPO Details:
- Issue type: Fresh issue
- Issue size: ₹47.20 Crore
- Objective: Capital for expansion and working capital needs
- Subscription dates: February 15, 2024 – February 20, 2024 (closed)
- Allotment date: February 21, 2024 (tentative)
- Listing date: February 23, 2024 (tentative)
Thaai Casting Limited Issue Details:
- Face Value: ₹10 per share
- Price Band: ₹73 – ₹77 per share
- Market Lot: 1600 shares
- Exchange Listing: NSE SME
Company Financials:
- Revenue Growth: 140% (past 3 years)
- Profit Growth: 200% (past 3 years)
- Profit Margin: 15% (latest year)
- Debt-to-Equity Ratio: 0.5 (latest year)
- Key Ratios: P/E: 25, EPS: ₹3.05 (latest year)
Thaai Casting Limited IPO Risks and Concerns:
- Dependence on the automotive industry: Fluctuations in the automotive industry can impact demand for the company’s products.
- Competition: The company faces competition from established players in the die casting industry.
- Limited product portfolio: Their product portfolio is currently concentrated on a few key products.
Thaai Casting Limited GMP Analysis:
- What is GMP?: Grey Market Premium (GMP) is an unofficial indicator of the expected premium at which a newly issued share might trade when listed on the stock exchange.
- Current GMP: ₹10 per share (as of February 19, 2024)
- GMP Trend: Rising
- Factors Influencing GMP: Strong financial performance, high retail investor interest, and positive market sentiment in the automotive sector.
- GMP Disclaimer: Remember, GMP is not an official indicator and may not reflect the actual listing price.
Please note: This information is based on publicly available data and should not be considered financial advice. Always conduct your own research before making any investment decisions.