Retaggio Industries IPO: Price, Subscription, Allotment, and Investment Review

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Retaggio Industries IPO listing on Monday: Price, Subscription, Allotment, and Investment Review

Sandip Raj Gupta

04/Apr/2025

Retaggio Industries IPO price set at ₹ 25 per share, market cap at ₹ 38.91 crore.
IPO subscribed 1.78 times, listing on BSE SME on April 7, 2025.
Financials show steady growth but low GMP suggests cautious investor sentiment.

Retaggio Industries is a jewellery manufacturing company specializing in gold, diamond, precious stone jewellery, and bullion products. It has a strong B2B presence and is led by Savinay Lodha and Nidhi Lodha, who have over a decade of experience in the gems and jewellery sector.

Retaggio Industries IPO Details

Issue Size: ₹ 15.50 crore
Shares Offered: 61.98 lakh (Fresh Issue)
IPO Price: ₹ 25 per equity share
Market Capitalization (at IPO Price): ₹ 38.91 crore
Lot Size: 6,000 shares
Retail Investment Minimum: ₹ 1,50,000
HNI Minimum Investment: ₹ 3,00,000 (2 lots)
Subscription Period: March 27, 2025 – April 02, 2025
Allotment Date: April 03, 2025
Listing Date: April 07, 2025
Exchange: BSE SME

IPO Subscription Status (Final Day - April 02, 2025, 7:00 PM)

The IPO was subscribed 1.78 times across all categories.

Grey Market Premium (GMP) & Expected Listing Price

GMP: ₹ 0 (No premium)
Expected Listing Price: ₹ 25 (At IPO price)

GMP suggests neutral investor sentiment, indicating no immediate listing gains.

Financial Performance

Revenue & Profit Trends

Fiscal Year	Revenue (₹ Lakh)	EBITDA (₹ Lakh)	Profit After Tax (₹ Lakh)
FY 2022	0.00	0.64	-0.64
FY 2023	2,306.59	415.91	308.99
FY 2024	2,327.83	518.35	334.11
H1 FY 2025	902.89	158.12	81.13

The company has shown steady revenue growth, but profits remain modest.

Key Financial Ratios (FY24 Pre-Issue & Post-Issue)

EPS: ₹ 3.57 (Pre-Issue), ₹ 2.15 (Post-Issue)
P/E Ratio: 7.00x (Pre-Issue), 11.65x (Post-Issue)
ROCE: 17.04%
ROE: 19.74%

The IPO valuation appears fair, but low GMP signals limited market excitement.

Retaggio Industries IPO Investment Review

Pros:

✅ Established B2B Jewellery Manufacturer
✅ Steady Revenue Growth in recent years
✅ Decent ROE & ROCE Metrics

Cons:

❌ Low Investor Demand (1.78x Subscription)
❌ No GMP Listing Gains Expected
❌ SME IPOs are generally illiquid & riskier

Investment Verdict: Avoid for Listing Gains

Given the low GMP, modest financials, and SME listing risks, the IPO may not be ideal for short-term gains. Long-term investors should analyze growth potential before investing.

Disclaimer: This article is for informational purposes only. Please consult a financial advisor before making investment decisions.

The Upcoming IPOs in this week and coming weeks are Aten Papers & Foam.

The Closed IPOs are Infonative Solutions Limited, Spinaroo Commercial Limited,Retaggio Industries Limited.

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