Rudra Gas Enterprise Limited Launches IPO on BSE SME Platform for Expansion Plans

Rudra Gas Enterprise Limited, a prominent player in the infrastructure sector, has unveiled its Initial Public Offering (IPO) on the BSE SME platform, commencing on February 8th and concluding on February 12th, 2024. Founded by esteemed promoters Mr. Kush Sureshbhai Patel, Mr. Kashyap Sureshbhai Patel, and Mrs. Manjulaben Sureshbhai Patel in September 2015, the company has established itself as a beacon of excellence and trustworthiness within the industry.

With a combined experience of over 24 years in the infrastructure field, Rudra Gas Enterprise Limited actively operates in various sectors, including gas distribution network projects, fiber cable network installations, and leasing of construction machinery and vehicles. Its comprehensive solutions cater to the diverse requirements of the city gas distribution sector, specializing in pipeline construction, civil works, and operation and maintenance services for pipeline networks, facilitating the transportation of resources such as Compressed Natural Gas (CNG) and Piped Natural Gas (PNG).

Based in Ahmedabad, Rudra Gas Enterprise Limited has solidified its presence across more than 15 states in India, leveraging its nine-year industry tenure, successful completion of over 50 projects, and a dedicated team of 512 highly skilled professionals. The company boasts an impressive clientele, including Torrent Gas Ltd., Gujarat Gas Limited, Indraprastha Gas Limited, Rajasthan State Gas Ltd., and other CGD companies.

The IPO comprises a fresh issue of 2,248,000 Equity Shares at a face value of ₹10 each, priced at Rs. 63 per share. The Lot Size is fixed at 2,000 Equity Shares, with a reservation for Market Makers of 116,000 Equity Shares and retail investors of 1,066,000 equity shares. The subscription window for the IPO opens on February 8th, 2024, and closes on February 12th, 2024.

The proceeds from the IPO will be channeled towards meeting working capital requirements and general corporate purposes, driving the company towards its next phase of growth. Rudra Gas Enterprise Limited is primed to seize upcoming opportunities and anticipates listing on the BSE SME platform.

The IPO is managed by Beeline Capital Advisors Pvt. Ltd., with Link Intime India Private Limited serving as the registrar to the issue. Rudra Gas Enterprise Limited has exhibited commendable financial performance, reporting total revenues of Rs. 28.17 crore (FY21), Rs. 43.96 crore (FY22), and Rs. 49.57 crore (FY23). The company's net profit stands at Rs. 1.27 crore (FY21), Rs. 1.79 crore (FY22), and Rs. 3.52 crore (FY23), underscoring its consistent growth trajectory and financial robustness.