Essen Specialty Films IPO: Good news for those investing in the stock market, another IPO is opening today

Essen Specialty Films, a company that manufactures and exports plastic products, will soon be listed on the National Stock Exchange. This information has been given by the company itself. The company told that its IPO is going to open on June 23. If you also invest in the stock market, then this news is important for you. Let us know in detail about the IPO of the company.
The company has fixed the price band of the IPO at Rs 101-107 per share. Investors can invest in this IPO till 27 June. The company wants to collect Rs 66 crore through this IPO. Under this IPO, the company will issue 46.99 lakh fresh shares. Out of which 15 lakh shares will be offered for sale. The company will use this IPO to pay off the debt. At the same time, this fund will also be used for working capital needs and general corporate purposes.
The lot size of 1200 shares has been kept for this IPO. Its allotment will be final on July 3. Whereas the refund of the share will be available on July 4, 2023. The listing of the company will be on July 6, 2023.
Essen Specialty Films reported that the company's net profit in FY23 is Rs 13.37 crore. This is 100% more than the profit of FY22. According to the upper price band, the market cap of the company will be 221.5 crores.
Let us tell you that this company works for the home improvement and furnishing industry. The company's products are supplied to multinational retail chains such as Ikea, Walmart, Kmart, Bed Bath & Beyond, Rusta, Runsween, Coles, and Kroger. The Ministry of Commerce and Industry, Government of India has accepted this company as a Two Star Export House.