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Business News/ Markets / Ipo/  Energy Mission Machineries share price makes a stellar debut, stock opens with 165% premium at 366 apiece on NSE SME
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Energy Mission Machineries share price makes a stellar debut, stock opens with 165% premium at ₹366 apiece on NSE SME

Energy Mission Machineries had a remarkable debut on NSE SME, with share price opening at ₹366, 165.22% higher than the issue price of ₹138. The company specializes in metal fabrication solutions and showed notable growth in profit after tax and sales.

Energy Mission Machineries share price lists on NSE SME today. (https://www.energymission.com/)Premium
Energy Mission Machineries share price lists on NSE SME today. (https://www.energymission.com/)

Energy Mission Machineries share price made a blockbuster debut on NSE SME today. Energy Mission Machineries share price opened at 366, which is 165.22% higher than the issue price of 138.

Energy Mission Machineries IPO subscription began on Thursday, May 9, and ended on Monday, May 13. The issue's price band was defined at 131 to 138 per share. Energy Mission Machineries' IPO lot size was 1,000 shares. Energy Mission Machineries IPO subscription status was 320.67 times on the third day.

The company offers metal fabrication solutions to the industrial sector by designing and producing CNC, NC, and conventional metal forming machines. The company's metal forming equipment include press brakes, shears, plate rolling machines, iron workers, hydraulic presses, and busbar bending, cutting, and punching machines.

Also Read: Energy Mission Machineries IPO: Issue booked over 320x on day 3 led by NIIs, retail investors. Check GMP

According to the Red Herring Prospectus (RHP), the company's listed peers include Macpower CNC Machines Ltd. (P/E of 89.06) and Jyoti CNC Automation Ltd. (P/E of 779.56).

From March 31, 2022 to March 31, 2023, the company's profit after tax (PAT) grew by 135%, while sales increased by 27.31%.

Energy Mission Machineries IPO details

Energy Mission Machineries IPO, worth 41.15 crore, consists of a fresh issue of 29,82,000 equity shares with a face value of 10. There is no offer-for-sale component.

The objectives that follow will be achieved by the firm using the net issuance proceeds: financing of capital expenditures for civil building projects at the Sanand, Gujarat, district of Ahmedabad, manufacturing facility currently in operation financing of capital costs for the installation of new machinery and plants; In order to fulfill the needs for operating capital; corporate goals in general.

The Energy Mission Machineries IPO's registrar is Bigshare Services Pvt Ltd, and the book running lead manager is Hem Securities Limited. Energy Mission Machineries IPO is being market-makered by Hem Finlease.

Also Read: Energy Mission Machineries IPO allotment finalised today; latest GMP, 4 steps to check status

Energy Mission Machineries IPO GMP today

Energy Mission Machineries IPO GMP is +130. This indicates Energy Mission Machineries share price were trading at a premium of 130 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, Energy Mission Machineries IPO expected listing price was indicated at 268 apiece, which is 94.2% higher than the IPO price of 138.

Today's IPO GMP indicates higher and anticipates a solid listing based on the activity of the grey market over the past 15 sessions. According to investorgain.com, the lowest GMP is 0 and the maximum GMP is 160.

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

Also Read: Upcoming IPOs: 6 new public issues and 12 new listings to keep primary market busy next week; check full list here

Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.

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Published: 16 May 2024, 10:01 AM IST
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