Energy Mission Machineries plans to raise up to Rs. 41.15 crore from public issue; IPO opens May 9

Ahmedabad based Energy Mission Machineries (India) Ltd , a leading company in designing and manufacturing of a diverse range of sheet metal machinery is planning to raise up to Rs. 41.15 crore from its SME public issue.Energy Mission Machineries (India) designs and manufactures CNC, NC, and conventional metal forming machines that cater to the industrial sector’s need for metal fabrication solutions. 

 The company has received approval to launch its public issue on NSE Emerge Platform of National Stock Exchange. The public issue opens for subscription on May 9 and closes on May 13. The Proceeds of the public issue will be utilised to fund company's expansion plans including civil construction work, new plant & machineries at existing manufacturing unit at Sanand, Gujarat, meeting the working capital requirements and general corporate purposes. Hem Securities Limited is the book running lead manager of the issue.

The initial public offering comprises a fresh issue of 29.82 lakh equity shares of face value Rs. 10 each in the price band of Rs. 131 to Rs. 138 per equity share for the public issue. Out of the issue proceeds of Rs. 41.15 crore, the company plans to utilize Rs. 6.86 crore towards civil construction work at existing manufacturing unit located at Sanand, district Ahmedabad, Gujarat, Rs. 7.43 crore towards installation of new plant & machineries, Rs. 15 crore towards working capital requirements. 

Minimum lot size for the application is 1000 shares which translates into investment of Rs. 1.38 lakh per application. Retail investor quota for the IPO is kept at not less than 35% of the net offer, HNI quote is kept at not less than 15% of the offer and QIB portion is kept at not more than 50% of the net offer.  Market Maker portion is kept at 1.50 lakh equity shares.

Company has reported operational and financial performance over years. For the 9 months of FY 23-24 ended December 2023, the company has reported consolidated total income of Rs. 83.99 crore, EBITDA of Rs. 12.71 crore and Net Profit of Rs. 6.74 crore.

 For the full year of FY 22-23, the company reported a total income of Rs. 100.66 crore, EBITDA of Rs. 13.61 crore and Net profit of Rs. 7.90 crore. As on 30th December 2023, Net Worth of the company was reported at Rs. 30.28 crore, Reserves & Surplus at Rs. 21.93 crore. Shares of the company will be listed on NSE’s Emerge platform.

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