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Thaai Casting IPO
Price Band
₹73.0–77.0
Issue Size
₹47.2 Cr
Lot Size
1,600 shares
Min Investment
₹123,200
GMP
+₹80.0 (103.9%)
Issue Price
₹77.0
Subject to Sauda
₹97300
Paid only if allotted
Thaai Casting IPO AI Summary
- Thaai Casting IPO is listed on NSE SME in the Auto Components & Equipments sector.
- Price band: ₹73.0–₹77.0 per share, lot size 1,600 shares (min. investment ₹123,200).
- Subscription window: 15 Feb–20 Feb 2024, listing on 23 Feb 2024.
- Current GMP is +₹80.0 (103.9%), an estimated listing price of ₹157 — unofficial and can change daily.
Thaai Casting Limited is an automotive ancillary company with a focus on high-pressure die casting and precision machining. The IPO is priced at ₹77.0 with a strong implied P/E ratio compared to its peers. Investors should consider their risk profile when evaluating this investment opportunity.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Thaai Casting IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 20 Feb 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Thaai Casting IPO Grey Market Premium (GMP) Today
GMP
+₹80.0
GMP %
+103.9%
Est. Listing
₹157.0
Updated: 25 Jul 2026 14:07
About the Company
Incorporated in June 2010, Thai Casting Limited is an automotive ancillary company specializing in High-Pressure Die Casting, as well as the precision Machining of both Ferrous and Non-Ferrous materials and Induction heating and quenching. The company has three business verticals:- High Pressure Die Casting Machining of Ferrous and Non-Ferrous Induction Heating and Quenching Thaai Casting is an IATF 16949: 2016 certified company. The company offers a wide range of automotive components, such as engine mounting support brackets, transmission mounts, fork shift and housing, steering wheel armatures, electrical connectors, YFG base frames (both right-hand and left-hand drive side), housing, top cover, and more. The manufacturing unit is located in No Tiruvallur, Tamil Nadu, India, The company has a die-making facility for new product development according to the required specifications. The die maintenance process is done with utmost care to ensure the dies run continuously and have a longer lifespan. As of September 30, 2023, the company employs 132 people in various departments.
Company Financials (₹ Cr)
As of 2023-10-31
| Period Ended | 31 Oct 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 146.38 | 54.99 | 37.52 | 23.79 |
| Total Income | 48.49 | 49.12 | 38.42 | 20.49 |
| Profit After Tax | 8.61 | 5.04 | 1.15 | 0.40 |
| NET Worth | 41.17 | 16.17 | 8.95 | 4.73 |
| Reserves and Surplus | 6.21 | |||
| Total Borrowing | 78.30 | 29.85 | 23.51 | 13.14 |
Key Ratios
EPS
₹2.96
NAV
₹9.51
ROCE
13%
RoNW
40.10%
P/B Value
8.10
P/E Ratio
25.99
Market Cap
₹178.10 Cr
PAT Margin
10.29%
Debt/Equity
1.85
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Electro Steel Casting Limited | 718.17 | 7.84% | 16.7 | 5.63 | 5.63 |
| Endurance Technologies Ltd | 236.81 | 12.28% | 41.98 | 29.07 | 29.07 |
| Thaai Casting Ltd This IPO | 9.51 | 40.1% | 25.99 | 2.96 | 2.96 |
Promoters
Sriramulu Anandan, Anandan Shevaani and Chinraj Venkatesan
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Capital Expenditure 37.30 2 General Corporate Purposes 7.40
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹38.42 Cr in the year ending 31 Mar 2022, increasing to ₹49.12 Cr by 31 Mar 2023. However, it slightly decreased to ₹48.49 Cr by 31 Oct 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹1.15 Cr in the year ending 31 Mar 2022, rising to ₹5.04 Cr by 31 Mar 2023. It further increased to ₹8.61 Cr by 31 Oct 2023, indicating a positive trend in profitability.
Valuation
Thaai Casting's implied P/E at the issue price is 25.99, compared to peers trading at P/E ratios of 16.7 for Electro Steel Casting Limited and 41.98 for Endurance Technologies Ltd.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on unofficial trading before it officially lists. A positive GMP suggests strong demand for the shares.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance.
Who May Want to Wait
Investors who prefer stable and established companies may want to avoid this IPO, as it operates in a competitive sector with inherent risks associated with new issues.
Listing Gains — The Risk
Listing gains can be unpredictable and depend on market conditions. Investors should be aware that while some IPOs may experience significant gains on their first day, others may not perform as well.
This evaluation is generated from Thaai Casting's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Thaai Casting IPO GMP today?
Thaai Casting IPO GMP today is +₹80.0 (103.9%), indicating an estimated listing price of ₹157. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Thaai Casting IPO?
The price band of Thaai Casting IPO is ₹73.0–₹77.0 per share.
When does Thaai Casting IPO open and close?
Thaai Casting IPO opens on 15 February 2024 and closes on 20 February 2024.
When does Thaai Casting IPO list on the stock exchange?
Thaai Casting IPO listed on 23 February 2024 at ₹157.0.
What is the lot size for Thaai Casting IPO?
The lot size for Thaai Casting IPO is 1600 shares, requiring a minimum investment of ₹123,200.
What is the price band for the Thaai Casting IPO?
The price band for the Thaai Casting IPO is ₹73.0 to ₹77.0.
What is the minimum investment required for the Thaai Casting IPO?
The minimum investment required is ₹123,200.
What is the lot size for the Thaai Casting IPO?
The lot size for the Thaai Casting IPO is 1600 shares.
When is the listing date for Thaai Casting?
The listing date for Thaai Casting is February 23, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium of the IPO shares over the issue price in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
15 Feb 2024
Close
20 Feb 2024
Allotment
21 Feb 2024
Listing
23 Feb 2024
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