Energy Mission Machineries (India) Ltd has announced plans to raise up to Rs. 41.15 crore through its SME public issue. The IPO, set to open on May 9 and close on May 13, aims to bolster the company’s expansion efforts, including infrastructure development, acquisition of new equipment, and meeting working capital requirements.
The IPO comprises a fresh issue of 29.82 lakh equity shares, with a face value of Rs. 10 each, in the price band of Rs. 131 to Rs. 138 per share. The funds raised will be channeled towards crucial aspects of the company’s growth strategy, such as civil construction work at its existing manufacturing unit in Sanand, Gujarat, installation of new plant and machinery, and general corporate purposes.Hem Securities Limited has been appointed as the book running lead manager for the issue, which will be listed on the NSE Emerge Platform of the National Stock Exchange.Energy Mission Machineries specializes in CNC, NC, and conventional metal forming machines catering to diverse industrial sectors. Its product range includes press brake machines, shearing machines, hydraulic presses, and more, serving industries like automotive, steel, furniture, and construction.
The company has showcased commendable financial performance, reporting a consolidated total income of Rs. 83.99 crore and a net profit of Rs. 6.74 crore for the nine months ending December 2023. With a manufacturing facility spread over 18,234 sq. mtrs in Sanand, Ahmedabad, Energy Mission Machineries eyes further expansion with the IPO proceeds. Investors can participate in the IPO with a minimum lot size of 1000 shares, amounting to an investment of Rs. 1.38 lakh per application. The retail investor quota is set at 35% of the net offer, ensuring broad participation in this strategic move by Energy Mission Machineries to fuel its growth trajectory.