Shining Tools share price made a weak debut on BSE SME today. Shining Tools share price today opened at ₹104, which is 8.8% lower than the issue price of ₹114.
The initial public offering (IPO) of Shining Tools had a subscription period that ran from Friday, November 7, until Tuesday, November 11. With a face value of ₹10, shares in the Shining Tools IPO is priced at ₹114. At least 1,200 of those shares are up for bid, and there are multiples of those shares available. Shining Tools IPO subscription status was 1.15 times on the last day of bidding.
Shining Tools Limited specializes in the design and production of high-performance solid carbide cutting tools tailored for different sectors in India.
The company provides refurbishment services for previously used tools, improving their functionality and performance.
Under the "Tixna" brand, the company designs and produces high-quality solid carbide cutting tools, including end mills, drills, reamers, and thread mills.
They develop customized tools and offer reconditioning services for the automotive, engineering, aerospace, and defense sectors.
The company produces high-performance cutting tools such as end mills, thread mills, drills, and reamers, delivering innovative solutions. These tools are utilized in commercial metal cutting across a variety of industries.
Shining Tools IPO details
Shining Tools IPO planed to raise ₹17.10 crore, consisting solely of a fresh issuance of 15 lakh shares priced at ₹114 each. After the issuance, the company's equity total reached 56.58 lakh shares, putting its valuation at approximately ₹64.5 crore. The funds raised will mainly be allocated to acquiring new machinery for carbide precision tools ( ₹9.07 crore), covering working capital requirements ( ₹3.85 crore), and for general corporate expenses ( ₹2.48 crore).
Shining Tools IPO GMP today
Shining Tools IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹114 with no premium or discount in the grey market according to investorgain.com
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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