Marco Cables & Conductors IPO
Marco Cables and Conductors has come up with a public offer in order to raise about Rs 19 crore. The IPO comprises a fresh equity issue of 26.01 lakh shares and an offer for sale of 26.01 lakh shares.
The IPO closes on September 25.
The company is engaged in the business of manufacturing and selling of wires, cables and conductors in India, with an operating history of over 34 years in the power cable industry in India.
The price band for the issue is fixed at Rs 36 per share and investors can bid for a minimum of 3,000 shares in one lot.
Shreni Shares is the book-running lead manager to the issue and Bigshare Services is the registrar.
The company’s shares are proposed to be listed on the NSE SME platform.
Mangalam Alloys IPO
The SME IPO of Mangalam Alloys comprises a fresh issue of Rs 49.01 crore and an offer for sale (OFS) of 7.37 lakh shares. Through the issue, the company aims to raise about Rs 55 crore.
The company is offering its shares at Rs 80 apiece, where investors can bid for Rs 1,600 shares in one lot.
Mangalam Alloys manufactures stainless steel, special steel, alloys steel melting and further processing unit i.e. up to bright bar fasteners engineering products.
For the year ended March 2023, revenue from operations fell marginally to Rs 303 crore from Rs 309 crore a year ago. However, net profit doubled to Rs 10.1 crore from Rs 5.05 crore in the preceding year.
Net proceeds from the offer will be used for working capital requirements, capital expenditure and general corporate purposes.
Expert Global Consultants is the book-running lead manager to the issue and Skyline Financial Services is the registrar.
The equity shares of the company are proposed to be listed on the NSE SME platform.
Hi Green Carbon
Hi Green Carbon’s Rs 53 crore SME IPO opened for subscription today and will close on September 25.
The company’s IPO, which comprises fresh equity issue of Rs 44.9 crore and an offer for sale of 10.5 lakh shares, is priced in the range of Rs 71-75.
Hi Green Carbon is engaged in the business of waste tyres recycling. Its manufacturing plant operates on a continuous pyrolysis process.
For the year ended March 2023, the company’s revenue from operations grew to Rs 78.52 crore from Rs 51.1 crore a year ago. Net profit meanwhile, nearly tripled to Rs 10.8 crore from just Rs 3.67 crore in the previous year period.
The company proposes to utilise the proceeds from the issue for setting up a new manufacturing plant in Maharashtra, meet working capital requirements and general corporate purposes.
Beeline Capital Advisors is the book-running lead manager to the issue, while Link Intime India is the registrar.
The company’s shares will be listed on the NSE SME platform.