- Date : 23/06/2023
- Read: 3 mins
Three IPOs - Essen Speciality Films, Greenchef Appliances, and Magson Retail and Distribution, are set to debut on the NSE Emerge, raising more than Rs. 134 crore
- Essen Speciality Films plans to raise Rs. 66.33 crore, catering to the home improvement industry and supplying to renowned retailers.
- Greenchef Appliances targets Rs. 53.62 crore for capital expenditure and expanding its range of kitchen appliances.
- Magson Retail and Distribution aims to raise Rs. 13.74 crore, focusing on gourmet and frozen food distribution.
- All three IPOs provide unique investment opportunities and will debut on the NSE Emerge on July 6.
The small and medium enterprise segment is abuzz with public offerings as three new initial public offerings (IPOs) are set to launch tomorrow, aiming to raise a cumulative total of Rs. 134 crore. These IPOs present exciting investment opportunities for individuals looking to participate in the market. Let's delve into the details of each IPO and explore what they offer.
Also Read: What To Keep In Mind When Investing In An IPO?
1. Essen Speciality Films
Leading the pack is Essen Speciality Films, a specialised plastic products exporter, aiming to raise Rs. 66.33 crore through its IPO. The company plans to issue 61.99 lakh equity shares, with a price band of Rs. 101-107 per share. This includes 46.99 lakh fresh shares and an offer-for-sale of 15 lakh shares by the promoters. Investors should note that the lot size for this IPO is 1,200 equity shares.
The net proceeds from this IPO will be utilised for debt repayment, working capital requirements, and general corporate purposes.
2. Greenchef Appliances
The second IPO on the list is Greenchef Appliances, a renowned kitchen appliances manufacturer. Greenchef aims to raise Rs. 53.62 crore through the issue of 61.63 lakh shares. This is a completely fresh issue, meaning that the entire amount (excluding issue expenses) will be received by the company. The price band for the offer has been set at Rs. 82-87 per share.
Investors should take note that the minimum bid quantity for this IPO is 1,600 equity shares, and subsequent bids must be made in multiples of 1,600 shares. Greenchef Appliances plans to utilise the funds raised for capital expenditure, including the installation of additional plant and machinery, construction of the factory building, working capital requirements, and general corporate purposes.
Also Read: Is Your IPO Rightly Valued?
3. Magson Retail and Distribution
The third IPO in the lineup is Magson Retail and Distribution, a frozen foods supplier. Magson aims to raise Rs. 13.74 crore through the subscription of shares priced at Rs. 65 each. This IPO solely comprises a fresh issue of 21.14 lakh shares. Notably, the lot size for Magson Retail and Distribution is 2,000 equity shares.
Magson operates in the retail and distribution business of gourmet, frozen food, and specialty foods. The company plans to use the proceeds from the IPO to set up organisations and stores under a franchise model, establish collaborations with major suppliers, and meet its working capital requirements.
Investors looking to diversify their portfolio and capitalise on exciting opportunities in the market should keep a close eye on the three IPOs set to open for subscription tomorrow. Essen Speciality Films, Greenchef Appliances, and Magson Retail and Distribution present distinct investment propositions in their respective industries. Potential investors should thoroughly evaluate the details, including the price bands, lot sizes, and utilisation of funds, before making informed investment decisions. The debut of all three companies on the NSE Emerge on July 6 promises an eventful entry into the market for these aspiring enterprises.
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Disclaimer: This article is intended for general information purposes only and should not be construed as investment or legal advice. You should separately obtain independent advice when making decisions in these areas.
