Faalcon Concepts share price hits lower circuit after strong debut, stock opens with 53% premium at ₹95 on BSE SME
- Faalcon Concepts share price had a strong debut on BSE SME, opening at ₹95, 53.22% higher than the issue price. However, the share price was locked in a 5% lower circuit after the debut.
Faalcon Concepts share price made a bumper debut on BSE SME today. Faalcon Concepts share price opened at ₹95, which is 53.22% higher than the issue price of ₹62. However, Faalcon Concepts share price were locked in 5% lower circuit post a strong debut.
At 10:12 IST, Faalcon Concepts share price was down 5% at ₹90.25 apiece on BSE.
Faalcon Concepts IPO opened for subscription on Friday, April 19, and closed on Tuesday, April 23. Faalcon Concepts IPO price band was fixed at ₹62 apiece. The minimum lot size consisted 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. Faalcon Concepts IPO subscription status on day 3 was 71.28 times.
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.
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 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%.
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.
Faalcon Concepts IPO GMP today
Faalcon Concepts IPO GMP or grey market premium is +5. This indicates Faalcon Concepts share price were trading at a premium of ₹5 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 ₹67 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 ₹10.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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