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19 Nov 2024
Falcon Technoprojects India IPO: The initial public offering (IPO) of Falcon Technoprojects India Limited will hit the Indian primary market on 19th June 2024, i.e. on Wednesday this week. The fixed issue is purely fresh. The public issue is proposed for listing on the NSE SME Emerge platform. Meanwhile, shares of the SME issue have yet to be traded in the grey market. According to the stock market observers, Falcon Technoprojects India Limited shares are trading at par in the grey market today.
Shares of Falcon Technoprojects India Limited are trading at par in the grey market today, say market observers.
The NSE SME issue will open on June 19th, 2024, and end on June 21st, 2024.
The company has fixed Falcon Technoprojects India IPO price band at ₹92 per equity share.
The SME IPO is 100 percent fresh issues. The company aims to raise ₹13.69 crore by issuing fresh shares.
Bidders can apply in lots, and one lot of the NSE SME IPO comprises 1200 company shares.
The share allocation can be finalized on Saturday this week, 22nd June 2024. If it is not announced on Saturday this week, it will be declared on Monday next week, 24th June 2024.
KFin Technologies Ltd has been appointed official registrar of the book build issue.
As the Falcon Technoprojects India IPO lot size comprises 1200 company shares and the issue's price band has been fixed at ₹92 apiece, the minimum investment required for the NSE SME IPO is ₹1,10,400 ( ₹92 x 2000).
The SME IPO is proposed for listing on the NSE SME Emerge platform.
Due to the 'T+3' listing rule, Falcon Technoprojects India's IPO listing date is most likely Wednesday, June 26th, 2024.
Speaking on the public issue, Bharat Shreekishan Parihar, Managing Director of Falcon Technoprojects India Limited, said, "Launching our IPO marks a significant leap forward for Falcon. Specializing in Mechanical, Electrical, and Plumbing (MEP) services across sectors like petroleum refineries, residential townships, atomic energy, and civil construction, we are positioned for robust growth. The net proceeds from the IPO will be allocated to Working Capital Requirements and General Corporate Purposes, supporting our expansion and enhancing our ability to provide exceptional MEP services throughout India. Our expert team is dedicated to maintaining high design, installation, and maintenance standards, ensuring reliable and efficient solutions tailored to each industry's needs."
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