Baheti Recycling IPO

Current

Subscription Details

  • Open Date 28 Nov
  • Close Date 30 Nov
  • IPO Size ₹ 12.42 Cr
  • IPO Price Range ₹ 45

Baheti Recycling IPO Subscription Status

Date NII Retail TOTAL
28-Nov-22 3.50x 17.39x 10.45x
29-Nov-22 19.15x 102.10x 60.67x

IPO Synopsis

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 
 

About Baheti Recycling

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%


IPO Key Points

  • 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 

How to apply for IPO?

  • Login to your 5paisa account and select the issue in the current IPO section

  • Enter the number of lots and price at which you wish to apply for

  • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange

  • You will receive a mandate notification to block funds in your UPI app

  • Approve the mandate request on your UPI and funds will be blocked

IPO FAQs

What is the minimum lot size and investment required for the Behati Recycling IPO?

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).

What is the price band of the Behati Recycling IPO?

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

When does the Behati Recycling IPO open and close?

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

What is the size of Behati Recycling IPO issue?

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

Who are the promoters/key personnels of Behati Recycling?

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

What is the allotment date of Behati Recycling IPO?

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

What is the Behati Recycling IPO listing date?

The listing date for the issue is 8th December.

Who are the book runners for Behati Recycling IPO?

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

Contact Details of Baheti Recycling IPO

Contact Information

Address

Baheti Recycling Industries Limited

A-2/3, L.R. Apartments,
Opp. Police Commissioner Office, Shahibaug
Ahmedabad – 380 004, Gujarat,
Phone: : +91-79-25627681/82
Email: info@bahetiindustries.com
Website: https://www.bahetiindustries.com

Baheti Recycling IPO Register

Address

Purva Sharegistry India Pvt Ltd

Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: http://www.purvashare.com

Baheti Recycling IPO Lead Manager

Hem Securities Limited