IPO Swastik Pipes 2022 gets approval from NSE Emerge to bring IPO, company will issue 62.5 lakh shares
swastik pipes About 40% of the IPO will be reserved for Qualified Institutional Buyers (QIBs), 20% for High Net Worth Individuals (HNIs) and 35% for Retail Investors.
Credit and Finance for MSMEs: Pipe manufacturer Swastik Pipes on Monday said it has received approval from NSE’s SME platform Emerge for its initial public offering (IPO). The company had recently filed a draft red herring prospectus (DRHP) with NSE Emerge. The issue size comprises of issuance of up to 62.51 lakhs equity shares of the face value of Rs 10 each fully paid-up shares through the book-building process, it said.
Swastik Pipes said nearly 40 per cent of the issue will be reserved for qualified institutional buyers (QIB), around 20 per cent for HNIs, and 35 per cent for retail investors. The company has appointed Corporate Capital Ventures Private Ltd as the lead manager for the issue while Skyline Financial Service has been appointed as the Registrar.
SWASTIK PIPES 2022 PLANS TO ISSUE 62.51 LAKH SHARES THROUGH IPO
Specialized pipe maker Swastik Pipes Ltd said on Tuesday that it has received approval from NSE Emerge for its initial public offer (IPO). The company had recently submitted draft papers with NSE Emerge to bring IPO
https://upstox.com/open-account/?f=4LB6Y8
The company plans to issue 62.51 lakh shares through IPO. “The issue size will be 62.51 lakh shares and the face value of each share will be Rs 10. The shares will be issued through book-building process,” Swastik Pipes said in a statem
About 40 per cent of the IPO will be reserved for Qualified Institutional Buyers (QIBs), 20 per cent for High Net Worth Individuals (HNIs) and 35 per cent for retail investors. The Company has appointed Corporate Capital Ventures Private Limited as the Lead Manager for the issue. Skyline Financial Services Private Limited has been appointed as the registrar
The promoters of Swastik Pipes are Sandeep Bansal, Anupama Bansal, Shashwat Bansal and Geeta Devi Agarwal. The company is a leading manufacturer and exporter of high quality TT Swastik Band Mild Steel/Carbon Steel, ERW Black and Galvanized Pipes/Tubes since 1973.
Swastik pipes 2022
Swastik Pipes in a statement said, “The company has two state-of-the-art manufacturing plants in Haryana and Uttar Pradesh with a production capacity of 20,000 MT per month. Over the years, the company has diversified into production of solar module mounting structures, steel tubular poles, GI structures for rural electrification, etc.”
What is NSE Emerge?
NSE EMERGE is a new initiative of the National Stock Exchange (NSE) for the country’s SMEs (Small and Medium Enterprises) and startup companies. These companies can be listed on NSE without Initial Public Offering (IPO). This platform helps SMEs and Startups to connect with investors for funding.
The company counts Reliance Industries, BHEL, Coal India, DMRC, EIL, Hindustan Zinc, L&T, NALCO, NTPC, ABB Ltd. Etc., among its customers spread across the US, UK, UAE, Australia, Qatar, Germany, Belgium, Mauritius, Ethiopia and Kuwait.
Meanwhile, NSE had earlier partnered with states including Telangana, Gujarat, etc., in order to encourage MSMEs through knowledge sessions, discussions, seminars, road shows etc., to raise funds by listing on Emerge and also support them in the listing procedure
However, according to a working paper by the Reserve Bank of India (RBI) in August 2022, even as listed SMEs on BSE SME and NSE Emerge have better profitability ratios, higher return on assets and asset utilisation ratios and also debt-equity ratio in comparison to the smallest 25 per cent of firms listed on main boards, they have lower liquidity as reflected in a lower quick ratio, current ratio and cash to current liabilities. the first 60 trading days after listing, indicating paltry trading in the SME exchanges in India.