The Rajoo Engineers date has been confirmed from February 6, 2024 – February 12, 2024.
The company’s product portfolio includes Downward Extrusion Blown Film Lines, Mono Layer Brown Film Lines, Three Layer Blown Film Lines, Two Extruder 3 Layer ABA Blown Film Lines, Five Layer Blown Film Lines, Seven Layer Blown Film Lines, Physically Foamed Sheet Extrusion Line, Cross Lamination Film Line, Lab Line, Mono & Multilayer sheet extrusion system for PS/PP/EVA, Sheet extrusion technology for solar modules and Single and twin screw extrusion systems.
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Bidding Dates
Feb 6-12
Buyback Price
₹210 per share
Face Value
₹1 per share
Offer Closes On
February 12
Rajoo Engineers IPO GMP
The Rajoo Engineers Buyback Price is ₹210 per share.
IPO Overview
Rajoo Engineers Limited, founded in 1986, designs and manufactures blown film lines, sheet lines, and thermoformers. Downward Extrusion Blown Film Lines, Mono Layer Brown Film Lines, Three Layer Blown Film Lines, Two Extruder 3 Layer ABA Blown Film Line, Five Layer Blown Film Lines, Seven Layer Blown Film Lines, Physically Foamed Sheet Extrusion Line, Cross Lamination Film Line, Lab Line, Mono & Multilayer sheet extrusion system for PS/PP/EVA, Sheet extrusion technology for solar modules, and Single and twin screw extrusion systems are among the company’s offerings.
The company’s manufacturing facility is at Veraval (Shapar), Rajkot district, Gujarat. Rajoo Engineers has more than 312 employees as of December 31, 2023.
Rajoo Engineers Buyback Detail
| Issue Period | February 6, 2024 – February 12, 2024 |
| Security Name | Rajoo Engineers Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 942,300 (1.53 % of Total number of equity Shares) |
| Issue Size (Amount) | ₹19.79 Crores |
| Buyback Price | ₹210 per share |
| Face Value | ₹1 per share |
| Listing At | BSE |
Rajoo Engineers Limited Financial Information
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 173.85 | 147.72 | 146.14 | |
| Revenue | 86.89 | 162.58 | 174.99 | 152.83 |
| Profit After Tax | 7.75 | 10.02 | 14.80 | 10.40 |
| Net Worth | 107.09 | 101.75 | 93.27 | 78.48 |
| Total Borrowing | 2.51 | 1.52 | 0.28 | 3.09 |
| Amount in ₹ Crore | ||||
Rajoo Engineers Buyback Issue Timetable
| Last Date to buy shares | January 30, 2024 |
| Record Date | January 31, 2024 |
| Offer Opens On | February 6, 2024 |
| Last Date for receipt of Tender Forms | February 12, 2024 |
| Offer Closes On * | February 12, 2024 |
| Finalisation of Buyback Acceptance | February 16, 2024 |
| Last Date for settlment of bids | February 20, 2024 |
| Last Date for Extinguishment of Shares | February 29, 2024 |
Company Profile
Awards and accolades:
- In 2003, the company was awarded an Export Excellence Certificate from the Engineering Export Promotion Council of India in recognition of the highest exports during the year as well as launched Asia’s highest output 3-layer blown film line with stack die(UCD) during Plastindia.
- Awarded with GUJARAT GAURAV AWARD for its outstanding contributions to the plastic industry in 2004.
- In 2013, Mr. C. N. Doshi, Mentor of Rajoo Engineers was awarded a Lifetime Achievement Award in recognition of his contribution to innovation in the plastics processing machinery segment and to the global plastic fraternity, the company also developed Asia’s first-ever smallest 5-layeVeravalr sheet line, displayed at K-germany & awarded by IPMMI.
Buyback is being undertaken, inter-alia, for the following reasons:
- The Buyback will help the Company to return surplus cash to its shareholders holding Equity Shares broadly in proportion to their shareholding, thereby enhancing the overall return to shareholders;
- The Buyback, which is being implemented through the tender offer route as prescribed under the SEBI Buyback Regulations, would involve allocation of a number of shares as per their entitlement or 15% of the number of shares to be bought back whichever is higher, reserved for the small shareholders. The Company believes that this reservation for small shareholders would benefit a large number of public shareholders, who would get classified as “Small Shareholders” as per Regulation 2(i)(n) of the SEBI Buyback Regulations;
- The Buyback may help in improving return on equity, by reducing the equity base, thereby leading to a long-term increase in shareholders’ value;
- The Buyback gives an option to the Shareholders holding Equity Shares of the Company, who can choose to participate and get cash in lieu of Equity Shares to be accepted under the Buyback offer or they may choose not to participate and enjoy a resultant increase in their percentage shareholding, post the Buyback offer, without additional investment.
- Optimizes the capital structure.
Registrar Info
| Name | Link Intime India Private Ltd |
| Phone number | +91-22-4918 6270 |
| Email ID | rajooengineers.buyback2024@linkintime.co.in |
| Website | linkintime.co.in |
Contact Details
| Name | Rajoo Engineers Limited |
| Phone number | +91 97129 62704 |
| Email ID | rel@rajoo.com |
| Website | rajoo.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
