Arrowhead Seperation Engineering IPO opens November 16, price band set at ₹233 apiece. Check GMP, other details

Arrowhead Seperation Engineering IPO opens for subscription on Thursday, November 16, and closes on Monday, November 20. Arrowhead Seperation IPO's price band is set at ₹233. Investors can bid for a minimum of 600 shares and in multiples thereof. The face value of the equity shares is ₹10 each and the issue price is 23.3 times the face value.

The activities of Arrowhead Seperation Engineering Limited include the production, distribution, and import of a range of dryers, including Totally Enclosed Single Drum Dryers, Continuous Particulate Dryers, Rotary Dryers, Single Drum Dryers, Double Drum Dryers, Paddle Dryers, and Flaker Systems. The company's main goal is to satisfy customers by delivering high-quality products that live up to expectations.

The company's promoters are Ajit and Jyoti Mundle.

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As per the RHP, Arrowhead Seperation IPO listed peers are Kilburn Engineering Ltd (P/E of 26.38), and Praj Industries Ltd (P/E of 17.92).

Arrowhead Seperation IPO details

Arrowhead Seperation Engineering IPO, which is worth ₹13 crore, is completely a fresh issue of 558,000 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).

The company intends to use the net proceeds from the offering to finance the following goals: meeting working capital needs; repaying NBFC loans; and advancing general corporate purposes.

The registrar of the Arrowhead Seperation Engineering IPO is Cameo Corporate Services Limited, while the book running lead manager is Aryaman Financial Services Limited. Aryaman Capital Markets is the market maker for the Arrowhead Seperation Engineering IPO.

Arrowhead Seperation IPO GMP today

Arrowhead IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹233 with no premium or discount in the grey market according to topsharebrokers.com

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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