Admin
06 December 2023

Sharp Chucks And Machines IPO: Crafting Precision in Manufacturing

Introduction:

Sharp Chucks And Machines IPO, an orchestrated offering of Rs 16.84 crores, seamlessly blends a fresh issue of 9.75 lakh shares amounting to Rs 5.66 crores and an offer for sale of 19.29 lakh shares aggregating to Rs 11.19 crores. The IPO subscription window unfolded from September 29, 2023, to October 5, 2023, with allotments concluded on October 9, 2023. Trading commenced on NSE SME on October 12, 2023.

Pricing and Share Dynamics:

Priced at ₹58 per share, the IPO beckoned investors with a minimum lot size of 2000 shares, requiring a retail investment of ₹116,000. High Net Worth Individuals (HNIs) were required to invest a minimum of 2 lots (4,000 shares), totaling ₹232,000.

Market Performance Glimpse:

As of December 15, 2023, Sharp Chucks And Machines Ltd (SCML) traded at ₹91.35, experiencing a marginal decrease of 0.16%. The stock opened at ₹93.00, reaching a high of ₹95.00 and a low of ₹90.55. The previous close stood at ₹91.50, with a total traded value of 50,000. Chart trends over 7 days, 15 days, 1 month, 3 months, 6 months, 1 year, 18 months, and 2 years offer a comprehensive visual journey.

Key IPO Highlights:

The IPO, conducted from September 29, 2023, to October 5, 2023, presented a face value of ₹10 per share. The listing occurred on October 12, 2023, with a total issue size of 2,904,000 shares, aggregating up to ₹16.84 crores. This comprised a fresh issue of 975,484 shares (₹5.66 crores) and an offer for sale of 1,928,516 shares (₹11.19 crores). The listing was on NSE SME.

Equity Transformation:

Pre-IPO, Sharp Chucks And Machines Ltd held 9,784,308 shares, increasing to 10,759,792 post the IPO. The IPO included a market maker portion of 148,000 shares managed by Nikunj Stock Brokers.

Investor Allocation:

Strategically, the IPO allocation was distributed among various categories, with 2,904,000 shares on offer. This included 148,000 (5.10%) for Market Makers, 1,378,000 (47.45%) for Non-Institutional Investors (NIIs), and an equal percentage of 1,378,000 (47.45%) for Retail Individual Investors (RIIs).

IPO Timeline Unveiling:

The IPO timeline unfolded as follows:

- IPO Open Date: Friday, September 29, 2023
- IPO Close Date: Thursday, October 5, 2023
- Basis of Allotment: Monday, October 9, 2023
- Initiation of Refunds: Tuesday, October 10, 2023
- Credit of Shares to Demat: Wednesday, October 11, 2023
- Listing Date: Thursday, October 12, 2023
- Cut-off time for UPI mandate confirmation: 5 PM on October 5, 2023

Lot Size Landscape

Investors could bid for a minimum of 2000 shares and in multiples thereof. The table below illustrates the investment parameters for retail investors and HNIs: