BackAuro Impex & Chemicals SME IPO to open on 5th May: 10 things to know
On May 5, the firm will begin its Initial Public Offer (IPO). Cameo Corporate Services will serve as the IPO's registrar, while Affinity Global Capital Market Private Ltd. will serve as the IPO's lead manager.
PremiumAuro Impex & Chemicals Limited is an Auro Group Company that was founded in 1994. Discharge & collection electrodes, as well as internal components and replacements for Electrostatic Precipitator (ESP) devices, are products that Auro Impex & Chemicals manufactures, exports, and supplies. On May 5, the firm will begin its Initial Public Offer (IPO). Cameo Corporate Services will serve as the IPO's registrar, while Affinity Global Capital Market Private Ltd. will serve as the IPO's lead manager. Here are the 10 things to know about Auro Impex & Chemicals SME IPO.
Auro Impex and Chemicals IPO Details
1. IPO Date: May 5, 2023 to May 9, 2023
2. Share allotment date: May 12, 2023
3. IPO Price: ₹74 to ₹78 per share
4. IPO size: Up to ₹27 Cr comprising 550,000 Equity Shares at a face value of ₹10 apiece
5. Minimum lot size: 1600 shares
6. IPO reservation: 50.00% of the net issue for QIB, 15.00% of the issue for NII (HNI) and 35.00% of the net issue for the retail category.
7. Listing date: 17 May
8. Listing exchange: NSE SME
9. Auro Impex & Chemicals GMP: Auro Impex and Chemicals latest IPO GMP today is ₹18, as per the market watchers.
10. Offer for sale (OFS): The 5.50 lakh shares that would be issued under the OFS will be valued at ₹4.29 crore at the issue price of ₹78. At the maximum issue price of Rs. 78, the 25.64 lakh shares being issued as part of the fresh issuance are valued at Rs. 20.00 crore. The IPO would issue 31.14 lakh shares in total, which comes out to a total issue amount of Rs24.29 crore at the maximum price range of Rs78 per share.
A R Ramachandran, Co-founder & Trainer-Tips2trades said “Consistent improvement in revenue and profit growth over the past 3 years makes Auro Impex & Chemicals a strong buy despite a slightly high debt-equity ratio. Retail investors can subscribe for listing gains."
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