.jpg)
Energy Mission Machineries plans to raise up to Rs. 41.15 crore from public issue; IPO opens May 9
Ahmedabad (Gujarat) [India], May 6: Ahmedabad based Energy Mission Machineries (India) Ltd, a leading company in designing and manufacturing of a diverse range of sheet metal machinery is planning to raise up to Rs. 41.15 crore from its SME public issue. The company has received approval to launch its public issue on NSE Emerge Platform [...]
Ahmedabad (Gujarat) [India], May 6: Ahmedabad based Energy Mission Machineries (India) Ltd, a leading company in designing and manufacturing of a diverse range of sheet metal machinery is planning to raise up to Rs. 41.15 crore from its SME public issue. The company has received approval to launch its public issue on NSE Emerge Platform of National Stock Exchange. The public issue open for subscription on May 9 and closes on May 13. The Proceeds of the public issue will be utilised to fund company’s expansion plans including civil construction work, new plant & machineries at existing manufacturing unit at Sanand, Gujarat, meeting the working capital requirements and general corporate purposes. Hem Securities Limited is the book running lead manager of the issue.
Company to issue 29.82 lakh Equity shares of Rs. 10 face value in the price band of Rs. 131 to Rs. 138 per share; To list NSE EMERGE Platform of NSE
Highlights:- Public issue opens for subscription from May 9 to May 13Minimum lot size for application is 1,000 shares; Minimum IPO application amount Rs. 1.38 lakh IPO funds will be used towards civil construction work, new plant & machineries at existing manufacturing unit at Sanand, Gujarat, meeting the working capital requirements and general corporate purposesFor 9 months of FY23-24 company reported total income of Rs. 83.99 crore, Net Profit of Rs. 6.74 croreHem Securities Limited is the book running lead manager of the issue.
The initial public offering comprises of a fresh issue of 29.82 lakh equity shares of face value Rs. 10 each in the price band of Rs. 131 to Rs. 138 per equity share for the public issue. Out of the issue proceeds of Rs. 41.15 crore, company plans to utilize Rs. 6.86 crore towards civil construction work at existing manufacturing unit located at Sanand, district Ahmedabad, Gujarat, Rs. 7.43 crore towards installation of new plant & machineries, Rs. 15 crore towards working capital requirements. Minimum lot size for the application is 1000 shares which translates in to investment of Rs. 1.38 lakh per application. Retail investor quota for the IPO is kept at not less than 35% of the net offer, HNI quote is kept at not less than 15% of the offer and QIB portion is kept at not more than 50% of the net offer. Market Maker portion is kept at 1.50 lakh equity shares.
