Business News/ Markets / Ipo/  Hemant Surgical SME IPO subscription to begin from May 24

The subscription of Hemant Surgical Industries Limited's initial public offering (IPO) will start on May 24. The three-day subscription window will end on May 26. The company has fixed the price band for the offer at 85-90.

The issue comprises upto 27,60,000 equity shares having a face value of 10 each. The IPO constitutes a fresh issue of equity shares.

The Book Running Lead Manager to the IPO is Hem Securities Ltd. 

The portion of the issue is not less than 35 per cent has been reserved for the retail investors. The company has fixed QIB quota at 50 per cent and NII quota at 15 per cent.

The IPO allotment will be finalised on May 31 while initiation of allotment/refunds/unblocking of funds from ASBA Account or UPI ID linked bank account will take place on June 1. The shares of the company will be credited in the Demat account of successful bidders on June 2.

The equity shares of Hemant Surgical will list on SME Platform of BSE (BSE SME). The listing is likely to take place on June 5. Bigshare is the registrar to the issue.

Hemant Surgical incorporated in 1989, is a Mumbai headquartered Company having more than three decades experience in medical equipment and disposables. Its products cater to renal care, cardiovascular disease, respiratory disease, critical care and radiology. 

The company has ISO Certified 1 Manufacturing unit & 2 Assembly units in Maharashtra with a total manpower of 172 employees. It has also exclusive distribution agreements with MNCs. In FY 23 achieved Revenue of Rs. 111 Crs with EBITDA Margin of 9.32%  and PAT Margin of 7.01%.

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Updated: 19 May 2023, 02:16 PM IST
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