New Delhi: Rudra Gas Enterprise Limited was incepted by our promoters Mr. Kush Sureshbhai Patel, Mr. Kashyap Sureshbhai Patel, and Mrs. Manjulaben Sureshbhai Patel on September 07, 2015.
The management has combined experience of more than 24 years in the infrastructure industry. The company is engaged in various facets of the infrastructure sector. We are mainly engaged in gas distribution network projects, fiber cable networks, and renting of construction machinery and vehicles. We provide end-to-end solutions for the city gas distribution sector. Our expertise is in pipeline construction, civil works, and operation and maintenance, for pipeline networks in city gas distribution. Our services ensure the safe and efficient transportation of vital resources such as Compressed Natural Gas (“CNG”) and Piped Natural Gas (“PNG”). In the fiber cable network sector, the company offers services of installations of optical fiber cable and maintenance thereof.
The company is headquartered in Ahmedabad and has a robust presence in more than 15 states in India. It has 9 years of experience, more than 50 projects, and an employee strength of 512 highly skilled and experienced. As of October 31, 2023, the company has an order book of approximately ₹32,783 lakhs which are at different stages of implementation and out of which approximately ₹ 7,571 Lakhs revenue is already booked. Post October 31, 2023, received a new order book of 4590.80 lakhs.
It has an impressive client list of Torrent Gas Ltd., Gujarat Gas Limited, Indraprastha Gas Limited, Rajasthan State Gas Ltd., and other CGD companies. The company proposes to take its company to its next level in progress for which it is coming out with an IPO on the BSE SME platform. It is a fresh issue of 2248000 Equity Shares with a face value of ₹ 10/- each.
The issue is a fixed price of Rs.63. The Lot Size 2, 000 Equity Shares. The reservation for Market Maker is 116000 Equity Shares. Reservation for retail is 1066000 equity shares. The Issue Opens on 8th February 2024 and closes on 12 February 2024. The Company proposes to utilize the funds that are being raised for working Capital Requirements & General Corporate Purposes and will be listed on the BSE SME Platform.
The issue is lead-managed by Beeline Capital Advisors Pvt. Ltd. The registrar of the issue is Link Intime India Private Limited. The company has reported a total revenue of Rs. 28.17 cr. (FY21), Rs. 43.96 cr. (FY22), and Rs. 49.57 cr. (FY23). Further, the net profit of the Company stands at Rs. 1.27 cr. (FY21), Rs. 1.79 cr. (FY22), and Rs. 3.52 cr. (FY23).
