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Baheti Recycling IPO

  • Status: Closed
  • - / - shares

    Minimum Investment

IPO Details

  • Open Date

    28 Nov 2023

  • Close Date

    30 Nov 2023

  • IPO Price Range

    ₹ 45

  • IPO Size

    ₹ 12.42 Cr

  • Listing Exchange

    TBA

  • Listing Date

    TBA

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Timeline Subscription Status Objective Financials SWOT FAQ Contacts

IPO Timeline

Last Updated: 03 January 2024 8:57 PM by 5Paisa

Behati Recycling, an aluminium recycling company, IPO opens on 28th November and closes on 30th November. The issue consists of fresh issue of 2,760,000 equity shares of Rs. 45 each, aggregating upto 14.42 crores. The IPO lot is 3000 shares per lot. The allotment of the shares will take place on 5th December while the issue will be listed on 8th December.

The issue will be listed on NSE SME. Hem Securities Limited is the book running manager for the issue. 

Objective of Behati Recycling IPO 

The net proceeds from the issue will be utilised for:
•    Modernization and expansion of existing manufacturing unit 
•    To meet Working Capital requirements 
•    To meet issue expenses
•    General Corporate Purpose 
 

Behati Recycling primarily operates in n processing aluminium based metal scrap to manufacture (i) aluminium alloys in the form of ingots and (ii) aluminium de-ox alloys in the form of cubes, ingots, shots and notch bar. It also engages in in trading of scrap materials such as aluminium scrap, brass scrap, copper scrap, zinc scrap etc. The versatile properties of aluminium and its alloys, results in it being used in various industries, which include automobiles, construction, electrical transmission application, food packaging etc. Aluminium alloys are used in automobiles components due to its stiffness, corrosion resistance and excellent strength to weight ratio while Aluminium de-ox alloys are used as deoxidizer in steel manufacturing units.

Aluminium is more environment-friendly than steel, plastic and other materials. Key sectors to drive aluminium consumption in India are Auto, Power, Electronics, Railways, Aerospace & Defence Construction, Solar Energy and Aluminium packaging.    
Some of the key customers are ArcelorMittal Nippon Steel India, Tata Steel, Minda Corporation, Sigma Electric, Sunflag Iron & Steel Co. Ltd. etc. The company market its products to around 12 states & Union Territories in India of which majority portion of the revenue comes from the state of Gujarat, Maharashtra, Orissa and Jharkhand. The company also sells products to the foreign buyers located in Japan, Canada, USA, China, Hong Kong, UAE, Taiwan etc. 


 

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY22 FY21 FY20
Revenue 248.4 127.5 105.8
EBITDA 7.3 4.0 3.4
PAT 2.9 0.5 0.2
Particulars (in Rs. Crores) FY22 FY21 FY20
Total Assets 81.9 63.0 45.4
Share Capital 4.6 3.8 3.8
Total Borrowings 50.7 37.9 31.2
Particulars (in Rs. Crores) FY22 FY21 FY20
Net cash generated from / (used in) operating activities 3.0 -1.1 5.6
Net cash from / (used in) investing activities 1.6 -1.5 -1.1
Net cash flow from / (used in) financing activities -4.5 2.6 -4.4
Net increase (decrease) in cash and cash equivalents 0.1 0.0 0.0

Peer Comparison

Name of the Company Total Revenue Basic EPS Nav Rs. per share PE RoNW%
Baheti Recycling Industries Limited 249.26 3.84 45 11.72 17.49%
Arfin India Limited 527.62 0.58 24.45 42.16 11.83%
Nupur Recyclers Limited 163.17 10.08 276.9 27.47 15.92%


Strengths

◾In-house manufacturing facility supported by technology-driven process. 

◾Stringent quality control mechanism ensuring standardized product quality. 

◾Diversified Client Base and long-standing relationship with our customers. 

◾Strong and diversified supplier base for sourcing raw materials. 

Risks

◾Changes in consumer demand 

◾Inflation, deflation, unanticipated turbulence in interest rates, equity prices or other rates or 

prices 

◾Failure to keep pace with rapid changes in technology 

◾Any adverse outcome in the legal proceedings 

◾Failure to successfully upgrade its product portfolio, from time to time 

◾General economic and business conditions in the markets in which it operates and in the 

local, regional, national and international economies 

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FAQs

The Behati Recycling IPO lot size is 3000 shares per lot.  A retail-individual investor can apply for 
up to 1 lot (3000 shares or ₹135,000).

The price of the Behati Recycling IPO is Rs. 45 per share.

The Behati Recycling IPO opens on 28th November and closes on 30th November.

Behati Recycling IPO issue consists of the issue consists of issuance of 2,760,000 Equity Shares. 

Behati Recycling is promoted by Mr. Shankerlal Bansilal Shah, Mr. Balkishan Shankerlal Shah and Mr. Yash Shankerbhai Shah. 

The allotment date of the Behati Recycling IPO is 5th December.

The listing date for the issue is 8th December.

Hem Securities Ltd is the book running lead manager to the issue.