Business Wire India
Ahmedabad based Ranjeet Mechatronics Limited (RML), an existing, profit-making company engaged in providing end to end solution in the designing, engineering, supply, installation, testing, commissioning, implementation, management and operational support for technology-based fire protection and detection systems. Moreover, the company has completed major projects at Chennai Metro Rail-Elevated stations, Medical College, Airport at Chennai, Ahmedabad, and Nashik respectively.
The company plans to open its initial public offering (IPO) on Wednesday, September 12, 2018. The Public issue will be of 18,00,000 equity shares of face value of Rs. 10 each for cash at a price of Rs. 25 per equity share aggregating to Rs. 450.00 Lakhs. Out of these 96,000, equity shares will be reserved for subscription by market maker. The net issue will constitute 25.82% of the fully diluted post-issue paid-up equity share capital of the Company. The shares would be listed on SME Platform of BSE Limited i.e. BSE SME Platform. The IPO will close on Monday, September 17, 2018. Beeline Broking Limited (BBL) is the Lead Manager to the Issue and RML’s IPO is the 1st IPO of BBL
. Further BBL is also the Market Maker to the Issue. The company will utilize the Net IPO proceeds to meet the Net Incremental Working Capital Requirement and for General Corporate purposes.
The Company was originally incorporated as “Ranjeet Electric Private Limited” at Ahmedabad on June 10, 1993, under the provisions of the Companies Act, 1956. Initially, we have obtained distributorship of agricultural engines, Industrial engines and marine engines from Kirloskar in the name of REPL. We were selling a wide range of Domestic and Agriculture pumps, Industrial pumps, Customized and Engineered pumps etc. In the year 2006-07, our company was awarded by Kirloskar Brother Limited for achieving 2nd highest sales turnover in Ahmedabad Region. In the year 2012, our existing promoters Mr. Rakesh Swadia, Mr. Devarshi Swadia along with relatives floated the company called “Himgiri Solutions Private Limited” (“HSPL”) with the main object to carry the business of providing various essential building services such as mechanical, plumbing, fire fighting, electrical safety security etc. In the year 2013, our existing promoters Mr. Rakesh Swadia, Mr. Devarshi Swadia along with relatives and others floated one more company called “Destiny Zone Security Systems Private Limited” (“DZSSPL”). In the year 2013-14, DZSSPL has been awarded a contract of approximately Rs. 10 crores (Rupees Ten Crores) from NCC Limited at Vardhaman Institute of Medical Science for Design, Supply, Transportation, Installation, Testing, Commissioning related to fire hydrant system, sprinkler system, fire Extinguishers, fire pumps, gas-based fire Suppression system. On January 1, 2015, our Board of Directors approved a scheme of amalgamation under Sections 391 to 394 of the Companies Act, 1956 for amalgamation of Himgiri Solutions Private Limited and Destiny Zone Security Systems Private Limited with our Company, with the appointed date as April 1, 2014. At present, Company is having ongoing projects of Rs. 60 crores (approximately) at various location in India.
The Promoters of Company are Mr. Rakesh Vallabhbhai Swadia and Mr. Devarshi Rakesh Swadia, who is having experience of more than 35 years and 13 years respectively in the field in which the company operates. The Company’s strengths include Experienced Promoters and Management Expertise, Long-term Relationship with the Clients, Capturing the growth potential and government focus on sector and Timely Completion of projects.
RML, based on its Financial Statements, has achieved The Total revenue from operations for the FY 2017- 18 was Rs.1778.19 Lakh as compared to Rs.1760.99 Lakh during the FY 2016-2017, showing a slight increase of 0.98% in FY 2017-18. The increase in revenue was attributable to the increase in the sales. The other income increased from Rs. 2.74 Lakh in FY 2016-17 as compared to Rs. 25.5 Lakh in FY 2017-2018, increased mainly due to an increase in other non-operative income. The Total income for the FY 2017- 18 was Rs. 1803.69 Lakh as compared to Rs.1763.73 Lakh during the FY 2016-2017, which is an increase of 2.27% due to an increase in revenue from operations and other income in FY 2017-18.