Rhetan TMT Limited becomes 388th Company to get listed on BSE SME Platform.Rhetan TMT Limited became the 388th company to get listed on the BSE SME Platform on September 05, 2022. Rhetan TMT Limited came out with an initial public offering of 80,00,000 Equity Shares of Rs.10 Each (“Equity Shares”) for cash at a price of Rs. 70 per equity share (The “Offer Price”), aggregating to Rs. 56.00 crore. The company has successfully completed its public issue on August 25, 2022.
Rhetan TMT Limited is Gujarat based company whose registered office is at Ahmedabad. The company engaged in manufacturing of TMT Bars and Round Bars which are primarily used in theconstruction industry. The company’s products have been used in the construction of dams, bridges, residential and commercial towers and major infrastructure projects in Gujarat.
Aryaman Financial Services Limited, was the lead manager to Rhetan TMT Limited.
So far, 150 companies have migrated to the main board. The 387 companies listed on BSE SME Platform have raised Rs.4,145 crore from the market and total market capitalization of 387 companies as on September 02, 2022 is Rs. 58,000 Crore. BSE is the market leader in this segment with a market share of 61 percent.
SEBI came out with detailed guidelines on 18th May 2010 for launching of SME Exchange/Platform. BSE became the first stock exchange to get the approval from SEBI and launch its SME platform on 13th March 2012.
The response since the launch of this platform by BSE has been very positive till date.