New Delhi: Energy Mission Machinery (India) Ltd on Monday said it has set the price band at Rs 131-138 per equity share for its initial public offering, which will hit the capital market on Thursday to raise about Rs 41 crore.
The public issue of Energy Mission Machinery (India) will open on May 9 and close on May 13 and the shares will be listed on the NSE SME platform, Emerge Company said in a statement.
According to the Red Herrin Prospectus (RHP), the public offer is entirely a fresh issue of 29.82 lakh equity shares of face value Rs 1 each and there is no offer for sale.
At the upper end of the price band, the company will fetch up to Rs 41.15 crore from the initial public offering (IPO).
The company intends to use the proceeds from the net issue to finance expansion plans including civil construction work, a new plant and machines at the existing manufacturing unit in Sanand, Gujarat.
The company will also use the proceeds to meet working capital requirements and general corporate objectives.
Investors can bid for a minimum of 1000 equity shares and multiples thereof.
The Ahmedabad based company is engaged in designing and manufacturing a diverse range of Sheet Metal Machinery. It designs and manufactures CNC, NC, a conventional metal forming machine that meets the industrial sector's need for metal forming solutions. Metal forming machines are used in various industries.
For the nine months of FY23-24, the company reported total income of Rs 83.9 crore and net profit of Rs. 6.74 crores.
Hem Securities Limited is the book running lead manager, while BigShare Services is the registrar to the issue.
The public issue of Energy Mission Machinery (India) will open on May 9 and close on May 13 and the shares will be listed on the NSE SME platform, Emerge Company said in a statement.
According to the Red Herrin Prospectus (RHP), the public offer is entirely a fresh issue of 29.82 lakh equity shares of face value Rs 1 each and there is no offer for sale.
At the upper end of the price band, the company will fetch up to Rs 41.15 crore from the initial public offering (IPO).
The company intends to use the proceeds from the net issue to finance expansion plans including civil construction work, a new plant and machines at the existing manufacturing unit in Sanand, Gujarat.
The company will also use the proceeds to meet working capital requirements and general corporate objectives.
Investors can bid for a minimum of 1000 equity shares and multiples thereof.
The Ahmedabad based company is engaged in designing and manufacturing a diverse range of Sheet Metal Machinery. It designs and manufactures CNC, NC, a conventional metal forming machine that meets the industrial sector's need for metal forming solutions. Metal forming machines are used in various industries.
For the nine months of FY23-24, the company reported total income of Rs 83.9 crore and net profit of Rs. 6.74 crores.
Hem Securities Limited is the book running lead manager, while BigShare Services is the registrar to the issue.
