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Business News/ Markets / Ipo/  Owais Metal and Mineral Processing IPO: Check date, price band, and other key details
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Owais Metal and Mineral Processing IPO: Check date, price band, and other key details

Owais Metal and Mineral Processing IPO price band has been set at ₹83 to ₹87 per share, with a face value of ₹10.

Owais Metal and Mineral Processing IPO. Photo: iStock (iStock)Premium
Owais Metal and Mineral Processing IPO. Photo: iStock (iStock)

Metals and minerals production and processor Owais Metal and Mineral Processing initial public offering (IPO) will for subscription on February 26, 2024 and closes on February 28, 2024.

The company has set the price band  at 83 to 87 per share, with a face value of 10. Investors can bid for a minimum of 1600 shares and in multiples thereof. The minimum lot size for an application is 1600 shares. The minimum amount of investment required by retail investors is 139,200. 

Also read: Bharat Highways Invit IPO: Check date, size and key other details

Owais Metal and Mineral Processing IPO is a book built issue of 42.69 crores. The issue is entirely a fresh issue of 49.07 lakh shares. 

Not more than 50 percent of the net offer is reserved for QIB, not less than 35 percent of the offer is reserved for retail investors and not less than 15 percent of the offer is reserved for NII.

Owais Metal and Mineral Processing Limited was established in 2022 and is engaged in the production and processing of metals and minerals. The company's manufacturing facility is located in Meghnagar, Madhya Pradesh. As of December 31, 2023, the company had 25 permanent employees.

Also read: Exicom Tele-Systems announces IPO dates to raise 329 crore via fresh issue

The company intends to utilize the net fresh issue proceeds to purchase of equipment to facilitate manufacturing, working capital requirements and general corporate purposes.

Saiyyed Owais Ali, Sayyad Akhtar Ali, and Saiyyed Murtuza Ali are the company promoters.

The allotment for the Owais Metal and Mineral Processing IPO is expected to be finalized on Thursday, February 29, 2024. The small and medium (SME) IPO will list on NSE SME with tentative listing date fixed as Monday, March 4, 2024.

Gretex Corporate Services Limited is the book running lead manager of the Owais Metal and Mineral Processing IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker of the IPO is Gretex Share Broking.

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Published: 21 Feb 2024, 09:26 PM IST
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