Initial Public Offering (IPO) There is good news for investors investing in. Energy Mission Machinery (India) is bringing its IPO. The company has set the price band for its initial public offering (IPO) at Rs 131-138 per share. The company gave this information in a statement on Monday. The company’s issue of Rs 41 crore will open on May 9 and close on May 13. The company’s shares will be listed on the NSE SME platform ‘Emerge’.
29.82 lakh new shares will be issued
According to the IPO document, 29.82 lakh new shares of face value of Rs 10 will be issued under the issue. It does not include offer for sale (OFS). The company intends to use the proceeds from the issue to finance its expansion plans. This civil construction work includes a new plant and machinery at the existing manufacturing unit in Sanand, Gujarat. Apart from this, the company will also use the proceeds from the issue to meet working capital requirements and for general corporate functioning.
Where will the company use the IPO money?
The company intends to use the proceeds from the net issue to finance its 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. The company reported total income of Rs 83.99 crore and net profit of Rs 6.74 crore in the nine months of FY23-24. Hem Securities Limited is the book running lead manager, while BigShare Services is the registrar to the issue.
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