|
The initial public offer (IPO) of Energy-Mission Machineries (India) received bids for 1,38,40,000 shares as against 29,82,000 shares on offer, as per NSE data as of 17:00 hours on Thursday, (09 May 2024). The issue was subscribed 4.64 times. The issue opened for bidding on Thursday, (09 May 2024) and it will close on Monday, (13 May 2024). The price band of the IPO is fixed between Rs 131 to Rs 138 per share. The minimum order quantity is 1,000 equity shares. The equity shares will list on NSE?s SME platform. About 1,50,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 28,32,000 equity shares. The issue and the net issue will constitute 26.33% and 25.00% respectively of the post offer paid up equity share capital of the company. The company intends to utilize the net proceeds to meet working capital requirements of the company, funding of capital expenditure towards civil construction work at existing manufacturing unit located Gujarat, funding of capital expenditure towards installation of new plant & machineries and general corporate purposes. Ahead of the IPO, Energy-Mission Machineries (India) on Wednesday, 08 May 2024, raised Rs 11.71 crore from anchor investors. The board allotted 8.49 lakh shares at Rs 138 per share to 5 anchor investors. Energy-Mission Machineries (India) is a leading manufacturer of metal forming machines, including CNC, NC, and conventional models, catering to the industrial sector's needs for metal fabrication solutions. The company offers a wide range of machines, including press brake, shearing, plate rolling, iron workers, hydraulic presses, and busbar bending, cutting, and punching machines. These machines are used in various industries, including automotive, steel, pre-engineered building, furniture, HVAC, agricultural equipment, road construction equipment, elevators, food processing machinery, and metalworking workshops. The company sale their products in India and other countries, including the USA, Switzerland, Russia, Nepal, Kenya, Uganda, UAE, Saudi Arabia, and other Middle Eastern countries. As on 31 March 2024, the company has 256 employees. The company recorded revenue from operations of Rs 83.28 crore and net profit of Rs 6.74 crore for the period from 1st April 2023 to 31 December 2023. Powered by Capital Market - Live News
|