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Rudra Gas Enterprise IPO is a fixed price issue of Rs 14.16 crores. The issue is entirely a fresh issue of 22.48 lakh shares. Rudra Gas Enterprise Limited is active in gas distribution network projects, fiber cable networks, construction equipment, and vehicle rental.

About Rudra Gas Enterprise Limited:

• Rudra Gas Enterprise Private Limited is an Ahmedabad based company working in the Engineering, Planning & Construction segment in the City Gas Distribution and Telecom sectors in India.
• They have expertise in city gas pipeline and telecom infrastructure development projects across India. Apart from the utility business, they are also having a strong presence in the real estate business in Ahmedabad and Hardware Building material manufacturer, trading and real estate business in Uganda, Africa through group companies.
• Company was originally incorporated as “Rudra Gas Enterprise Private Limited” in September 7, 2015.
• They are mainly engaged in gas distribution network projects, fiber cable network, renting of construction machinery and vehicle.
• They provide end-to-end solutions for the city gas distribution sector and have expertise is in pipeline construction, civil works, and operation and maintenance, for pipeline networks in city gas distribution.
• Their services ensure the safe and efficient transportation of vital resources such as Compressed Natural Gas (“CNG”) and Piped Natural Gas (“PNG”).
• In fiber cable network sector, the company offers services of installations of optical fiber cable and maintenance thereof.
• They derive revenue from following business verticals:
  • a) Gas Pipeline Projects
  • b) Fiber Cable Projects
  • c) Renting of Construction Machineries and vehicles
• Our services are consistent round the year. We are a quality conscious company. We are constantly striving to expand our
• service portfolio and we always look forward to complementing projects of our clients.
• Promoters of company are Mr. Kush Sureshbhai Patel, Mr. Kashyap Sureshbhai Patel and Mrs. Manjulaben Sureshbhai Patel.

Financials: Rudra Gas Enterprise Limited

Rudra Gas Enterprise IPO: Salient Points

• On Standalone basis as of March 31, 2023 and for the period ended October, 31, 2023, Company had total indebtedness in the form of short term and long-term borrowings of ₹ 1,738.34 Lakhs and ₹ 1990.15 Lakhs respectively
• The Net Proceeds are proposed to be utilized To Meet Working Capital Requirements and. General Corporate Purposes.

• Key Performance Indicators of Company:

• OPERATIONAL KPIs OF THE COMPANY:

• Company has demonstrated a prominent presence in execution of pipeline projects and has developed significant expertise and competencies in this field.
• Over the years, they have successfully executed more than 50 projects. Major completed projects quantify to approximately ₹ 12,708 Lakhs.
• They are currently present across 10 States and 1 Union Territory with more than 35 cities / towns in India.
• As on October 31, 2023, they had an order book position for execution of approximately ₹ 32,783.06 lakhs which are at different stages of implementation and out of which approximately ₹ 7571.01 Lakhs revenue is already booked

• Peers:

• Rudra Gas Enterprise IPO is coming at a PE ratio of 14.9x (FY23) , 12.4x (fy24 annualized earnings)
• I intend to apply in Rudra Gas Enterprise IPO subject to availability of funds. company is engaged in various facets of the infrastructure sector primarily gas projects which have good visibility of orders and company has good order book.
• GMP as reported on social media has been Rs. 15
• Beeline Capital Advisors Pvt Ltd is the Lead Manager to the issue. It has a fair to good record. Past issues handled by them include Fonebox Retail Limited, Konstelec Engineers, Australian Premium Solar, Indifra Limited, Benchmark Computer Solutions, Sheetal Universal Limited, Rajgor Castor Derivatives, Arvind and Company Shipping Agencies, Karnika Industries Limited, Hi-Green Carbon Limited, Kody Technolab Limited, Chavda Infra Limited, Vinsys IT Services Limited,Ahasolar Technologies, Pentagon Rubber, Remus Pharmaceuticals, Sotac Pharmaceuticals, RBM Infracon Limited, Transvoy Logistics, Dev Labtech, Viviana Power Tech, Vital Chemtech, Aristo Bio-Tech and Lifescience, Viaz Tyres, Vertexplus Technologies etc.
• SME IPO are much more risky and volatile than mainboard IPOs. Currently there appears to be element of speculation in SME IPOs.
• Standard disclaimer: I am not a SEBI registered analyst and above analysis is for educational purpose only. Iam a postgraduate in engineering & Management . I have in the past cleared some exams like NISM-Series-V-A: Mutual Fund Distributors Certification, NISM-Series-X-A: Investment Adviser (Level 1) Certification and NISM-Series-X-B: Investment Adviser (Level 2) Examination. This post is my view on the subject matter and is only academic and exploratory in nature. It is not meant to influence investment decisions of investors. I may have bias/vested interest in covered Stock/Mutual Funds/NCD etc. due to my own investment or leaning. Further my understanding of the areas on which I write may be imperfect or incomplete and data could be wrong due to limited time and resources at my disposal. Do check the data from company’s RHP and exchanges before making any decision. Please do your own due diligence as stock market/MF investments have high degree of inherent risk.