Active Stocks
Mon Apr 15 2024 15:59:36
  1. Tata Steel share price
  2. 160.90 -1.59%
  1. ITC share price
  2. 425.90 -0.98%
  1. State Bank Of India share price
  2. 757.75 -1.17%
  1. ICICI Bank share price
  2. 1,078.80 -2.30%
  1. NTPC share price
  2. 361.35 -0.08%
Business News/ Markets / Ipo/  Pratham EPC Projects IPO price band set at 71 - 75 per share; SME IPO to open on March 11
BackBack

Pratham EPC Projects IPO price band set at ₹71 - 75 per share; SME IPO to open on March 11

Pratham EPC Projects IPO price band has been fixed at ₹71 to ₹75 per share. At the upper end of the price band, the company plans to raise ₹36 crore from the offer which is entirely a fresh issue of 48 lakh equity shares.

Pratham EPC Projects IPO is an SME IPO and the bidding of it will commence on March 11 and conclude on March 13. (Photo: Company Website)Premium
Pratham EPC Projects IPO is an SME IPO and the bidding of it will commence on March 11 and conclude on March 13. (Photo: Company Website)

Pratham EPC Projects IPO: Pratham EPC Projects, the integrated engineering, procurement, construction, and commissioning services provider, will launch its initial public offering (IPO) on March 11.

Pratham EPC Projects IPO is an SME IPO and the bidding of it will commence on March 11 and conclude on March 13. 

The company has announced the price band for the public offer. Pratham EPC Projects IPO price band has been fixed at 71 to 75 per share. At the upper end of the price band, the company plans to raise 36 crore from the offer which is entirely a fresh issue of 48 lakh equity shares.

Pratham EPC Projects IPO lot size is 1,600 shares and the minimum investment amount required by retail investors is 120,000. 

Also Read: Owais Metal and Mineral Processing Limited share price makes a stellar debut, stock opens with 187% premium at 250

The company plans to use the fresh issue proceeds for the purchase of machinery, meeting working capital requirements, and for general corporate purposes.

Pratham EPC Projects IPO allotment is expected to be finalized on March 14, while the equity shares of Pratham EPC Projects will list on NSE SME with a tentative listing date fixed as March 18, 2024.

Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Pratham EPC Projects IPO, while Link Intime India Private Ltd is the IPO registrar.

About Pratham EPC Projects 

Pratham EPC Projects Ltd is an end-to-end services provider to oil and gas utilities in India. The company specializes in integrated engineering, procurement, construction, and commissioning.

Nayankumar Pansuriya and Pratikkumar Vekariya are the promoters of the company. After the IPO, the promoter shareholding in the company will come down to 72.97% from 100% at present.

Also Read: RK Swamy IPO: Retail portion fully subscribed in less than an hour of opening; check GMP, subscription status, more

Looking at the financials, Pratham EPC Projects’ net profit spiked to 7.64 crore in the financial year ending March 2023, from 4.41 crore in the previous year. The company’s revenue increased to 51.67 crore in FY23 from 50.62 crore in FY22.

Pratham EPC Projects IPO GMP Today

Pratham EPC Projects IPO GMP today, or grey market premium today, is 35 per share, as per market observers. This indicates the equity shares of Pratham EPC Projects were trading at a premium of 46.67% at 110 apiece in the grey market, as against its IPO price of 75 per share.

Read all IPO news here

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 04 Mar 2024, 12:43 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App