Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
The SME IPO of Sai Swami Metals opened for subscription on Tuesday and will close on May 3. The company aims to raise about Rs 15 crore through the SME IPO and list the shares on the BSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.it disclosed to investors, said three sources with direct knowledge of the issue.
The company is actively involved in the trading and marketing of a comprehensive array of stainless steel products, addressing the diverse needs of our discerning customers.
The use of stainless steel in utensils itself extends to various equipment including tableware like hot pots, bowls, plates, pans and saucepans, and many more.
The IPO is entirely a fresh equity issue of 25 lakh shares and through the issue, the company aims to raise nearly Rs 15 crore.
The company is offering its shares at Rs 60 apiece, and investors can bid for 2000 shares in 1 lot.
For the period ended December 2023, the company clocked revenues of Rs 5.19 crore and net profit of Rs 43 lakh.
The net proceeds from the public offer will be used for investment in subsidiary company Emmforce Mobility Solutions in form of equity or debt for meeting the requirement of working capital and other general corporate purposes.
Swastika Investmart is acting as the lead manager to the issue and Bigshare Services was the registrar.
About 50% of the offer is reserved for retail investors and the rest 50% for other investors.
The IPO opened on April 30 and will close on May 3. The final allotment will likely be made on May 6. The company's shares will likely be listed on May 7.
Ahead of the issue opening, the company's shares are trading with a GMP of Rs 20 in the unlisted market.
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