Faalcon Concepts IPO: Issue subscribed 54.81 times on day 3 so far, NII, retail portion sees strong demand; check GMP

Faalcon Concepts IPO has opened for subscription on Friday, April 19, and will close on Tuesday, April 23. Faalcon Concepts IPO price band has been fixed at ₹62 apiece. The issue price is 6.2 times of the face value. The minimum lot size consists of 2,000 equity shares for retail individual investors and 4,000 equity shares and in multiples of 2,000 equity shares thereafter for HNI/QIB category. 

The firm is involved in the design, engineering, manufacturing, and installation of façade systems, according to the prospectus. The company's philosophy is to provide its clients with solutions for their façade installation needs in intricate projects.

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The business specialises in intricately designed facades. To satisfy client requests, the firm provides a wide range of goods. The firm offers a variety of products, including roofing, stone cladding, metal cladding, skylights, canopies, frameless glass, high-end aluminum doors and windows, and more.

The goal of the business is to provide facades that are immune to noise, dust, acid rain, UV radiation, and other environmental factors. The Company's registered office is located in Gurugram, Haryana.

The business has served clients from a number of states, including Delhi, Haryana, Uttar Pradesh, Rajasthan, Madhya Pradesh, Karnataka, Gujarat, and Punjab.

The company's (with a P/E of 16.80) sole listed peer is Innovators Façade Systems Ltd (with a P/E of 44.42). 

From March 31, 2022 to March 31, 2023, Faalcon Concepts' profit after tax (PAT) increased by 83.58% while its revenue fell by -28.5%.

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Faalcon Concepts IPO subscription status 

Faalcon Concepts IPO subscription status is 54.81 times on day 3, so far.  

The retail portion has been subscribed 36.71 times, and NII portion has been booked 70.81 times on day 3. 

The company has received bids for 10,15,10,000 shares against 18,52,000 shares on offer, at 15:23 IST, according to data on chittorgarh.com.

Faalcon Concepts IPO subscription status was 1.60 times on day 1, and the issue was booked 7.02 times on day 2. 

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Faalcon Concepts IPO details

The approximately ₹12.09 crore Faalcon Concepts IPO consists of a fresh issue of 1,950,000 equity shares with a face value of ₹10. The offer-for-sale component isn't there.

The net proceeds of the offering will be used by the firm to fulfill the following objectives: to partially finance the demand for working capital; to finance the capital expenditure for the procurement of facade structural equipment; and to satisfy general corporate purposes.

The company's promoters are Prithvi, Tribhuvan, and Ekta Seth.

The registrar of the Faalcon Concepts IPO is Beetal Financial & Computer Services (P) Limited, while the book running lead manager of the offering is Navigant Corporate Advisors Ltd. Alacrity Securities is the market maker for the Faalcon Concepts IPO.

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Faalcon Concepts IPO GMP today 

Faalcon Concepts IPO GMP or grey market premium is +6. This indicates Faalcon Concepts share price were trading at a premium of ₹6 in the grey market, according to investorgain.com.

After taking into consideration the upper end of the IPO pricing range and the existing premium on the grey market, it is expected that Faalcon Concepts share price will list at a price of ₹68 per share, which is 8.06% more than the IPO price of ₹62.

In light of the past nine sessions of activity on the grey market, the IPO GMP indicates a rising trend and anticipates a robust listing. Analysts at Investorgain.com estimate that the lowest GMP is ₹0 and the maximum GMP is ₹6.

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

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