Ameya IPO is to close today, 30 August- Should you apply to the IPO?

Ameya IPO details you need to know

 Ameya IPO is to close today

Ameya Precision Engineers Ltd, founded in 1987, is a leading manufacturing company of Engineering components. It is mainly in the business of material supply and infrastructure. The company produces shafts/stems, hard-facing and corrosion-resistant overlays, precision trim parts, assemblies, etc. They claim to have 120 employees and 20+ clients. They have served their customers in more than 10 countries. The company is based out of Pune in, India. 

Exports constitute 95% of the company’s revenue. The company had a revenue of Rs 23.96 crores in FY22. The PAT was Rs 1.52 crores. The reserves and surplus of the company are Rs 7.52 crores, and the total assets on the balance sheet are Rs 19.98 crores as of 31 March 2022. The company is raising a total of Rs 7.14 crores which constitutes a fresh issue of Rs 5.1 crores, and an offer for sale of Rs 2.04 crores. The issue is at a fixed price of Rs 34 per share with a face value of Rs 10. Read on to know more details about the IPO. 

RelatedAll about IPOs in India

Ameya IPO details

The IPO details are as follows:-

  • Subscription details- The issue has been subscribed 116.45 times as of 1:28 PM on the closing date. The retail segment is oversubscribed 149.23 times. Bidding closes today, 30 Aug. 
  • IPO size- The IPO size is Rs 7.14 crores, with a fresh issue of Rs 5.1 crores and OFS of Rs 2.04 crores. 
  • IPO lot size- You can apply in lots of 4000 shares. 
  • Application limit- In the retail category, you can apply for 1 lot only. 
  • Allotment date- The tentative allotment date is 05 Sep 2022.
  • Listing date- The stock will be listed on the NSE SME exchange.
  • Listing date- The tentative listing date is 08 Sep 2022.
  • Registrar- The issue registrar is Skyline Financial Services Private Ltd.
  • Promoters- The promoters of the company are Bipin Shirish Pande and Nikhil Shirish Pande. Post issue, the promoter holding will go down to 71.996% from the current 99.99%. 

Related: Is your IPO rightly valued?

Conclusion

The IPO of Ameya Precision Engineers Ltd closes today, 30th August. The issue looks fairly priced, but as it is from the SME segment, the issue is risky. Looking at the subscription details, the chance of allotment will be very slim, and most likely, the listing of the stock is expected to be at a premium. If you have extra cash available, you can apply for the IPO, and if you get an allotment, the listing will most likely be at a premium.

Related: What did the IPO's of 2021 teach us?

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