Shri Balaji Valve Components Limited IPO sets price band at ₹95-100 apiece: GMP, issue details, more

Shri Balaji Valve Components Limited IPO will open for subscription on Wednesday, December 27, and will close on Friday, December 29. Shri Balaji Valve Components Limited IPO price band is set in the range of ₹95 to ₹100. Shri Balaji Valve Components Limited IPO lot size consists of 1,200 shares. Investors can bid for a minimum of 1,200 shares and in multiples thereof. The allocation to anchor investors for Shri Balaji Valve Components Limited IPO is scheduled to take place Tuesday, December 26.

Shri Balaji Valve Components Ltd. manufactures forged products in addition to valve components for butterfly, ball, and other types of valves.

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The company manufactures a wide range of valve parts, including hoods, discs, sleeves, trunnions, balls, spindles, valve bodies, ports, flanges, housings, rings, and shafts. These parts are utilised in many different kinds of valves, including control, gate, check, butterfly, and ball valves.

The profit after tax (PAT) of Shri Balaji Valve Component Limited increased by 319.07% and revenue by 61.14% between the fiscal year that ended on March 31, 2022, and March 31, 2023.

The company's promoters are Shrinivas Laxmikant Kole, Madhuri Laxmikant Kole, and Laxmikant Sadashiv Kole.

Shri Balaji Valve Components Limited IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

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Tentatively, Shri Balaji Valve Components Limited IPO basis of allotment of shares will be finalised on Monday, January 1 and the company will initiate refunds on Tuesday, January 2, while the shares will be credited to the demat account of allottees on the same day. Shri Balaji Valve Components shares are likely to be listed on BSE SME Wednesday, January 3.

As per the Red herring prospectus (RHP), there are no listed companies in India that are engaged in a business similar to that of the company.

Shri Balaji Valve Components Limited IPO details

Shri Balaji Valve Components Limited IPO, which is worth ₹21.60 crore, is completely a fresh issue of 2,160,000 equity share; there is no offer for sale (OFS) component, according to RHP.

The company plans to use the issue's proceeds for the following purposes: general corporate purposes, working capital requirements, and financing capital expenditures for the installation of additional plant and machinery.

The registrar for the Balaji Valve Components IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Hem Securities Limited. In the Balaji Valve Components IPO, Hem Finlease is the market maker.

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Shri Balaji Valve Components Limited IPO GMP 

Shri Balaji Valve Components Limited IPO GMP or grey market premium was ₹0, which meant shares were trading at their issue price of ₹100 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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