Thaai Casting IPO: Check Out Reserve Portion, Price Band & More

Thaai Casting’s initial public offer (IPO) opened for subscription on February 15, 2024, and is scheduled to close on February 20, 2024. Thaai Casting has set the IPO price band between Rs 73 to Rs 77 per share. Retail investors must apply for a minimum lot size of 1600 shares, requiring a minimum investment amount of Rs 1,23,200. High-Net-Worth Individuals (HNIs) need to invest in a minimum lot size of 2 lots or 3,200 shares, totaling Rs 2,46,400.

About the company

Thaai Casting is an automotive ancillary company specializing in HighPressure Die Casting, as well as the precision Machining of both Ferrous and Non-Ferrous materials and Induction heating and quenching. It firmly roots its business model in a B2B approach, catering to leading entities in the automotive components sector.The company’s product portfolio encompasses a diverse range of automobile components, including engine mounting support brackets, transmission mounts, fork shift and housing, armature – steering wheel, electrical connectors, YFG base frame and more.

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Price Band

Thaai Casting has set the IPO price band between Rs 73 to Rs 77 per share.

Issue Size

Retail investors can bid for a minimum of 1600 shares and in multiples thereof. The minimum investment amount required for retail investors is Rs 1,23,200. High Net Worth Individuals (HNIs) have a minimum lot size investment of 2 lots, equivalent to 3,200 shares, amounting to Rs 2,46,400.

IPO Reserve Portion

The issue reserves not more than 50 percent for Qualified Institutional Buyers. It has reserved not less than 35 percent for Retail Investors. It has reserved not less than 15 percent of the net issue for Non-Institutional Investors.

Objectives of the issue

1. To meet out the Capital Expenditure
2. To meet out the General Corporate Purposes
3. To meet out the Issue Expenses.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.