Rappid Valves shares will be listed today. Here’s what to expect

Rappid Valves shares will debut on the NSE SME platform today. Before listing, the company’s gray market shares were trading at a GMP of Rs 90.

Considering the upper price band of Rs 312, the stock is expected to trade at a premium of 41% over the issue price.

The IPO, which was an all-fresh equity sale worth 13.69 lakh shares, received an overwhelming response from investors with total subscriptions of 176 times at the end.

The net proceeds from the public offering will be used to fund capital expenditures for the purchase of new machinery and software, repayment of debt, inorganic growth through acquisitions and other general corporate purposes.

Rappid Valves is primarily engaged in the production of Valve solutions. Its extensive product portfolio includes a wide range of valves which includes ball valves, gate valves, globe valves, butterfly valves, check valves, double shut-off valves, filter valves and marine valves which are manufactured from ferrous and non-ferrous materials in sizes ranging from 15 mm up to 600 mm to meet various requirements.

Rappid Valves focuses on technology through the production of custom industrial valves. Manufacturing, engineering or the manufacturing process are the steps that transform our raw materials into a final product. The production process begins with the product design and specifications of the materials from which a high-quality product is made. Valves are technically fittings, but are usually discussed as a separate category. In an open valve, fluid flows from higher to lower pressure. The valve market size is estimated at USD 79.90 billion in 2024 and is expected to reach USD 108.20 billion by 2029, growing at a CAGR of 6.25% during the forecast period (2024-2029).

For the year ended March 2024, the company posted total revenues of Rs 36.6 crore and net profit of Rs 4.13 crore.

Sherni Shares acted as lead issue manager and Link Intime India was the registrar.