Two IPOs to enter market this week, subscriptions allowed only on BSE. Check details
As per BSE data, a total of 34 IPOs have debuted on the stock exchange's SME platform so far in 2022. This year, the demand to list on the SME platform has been robust compared to 27 listings on this BSE medium in 2021.
PremiumTwo companies are set to launch their initial public offering (IPO) this week. These are Isolation Energy and Concord Control Systems. Post IPO issue, the company's equity shares are proposed to list on BSE's SME platform. The public offer will be available only on BSE for subscription. As per BSE data, a total of 34 IPOs have debuted on the stock exchange's SME platform so far in 2022. This year, the demand to list on the SME platform has been robust compared to 27 listings on this BSE medium in 2021.
Here's the list!
Isolation Energy IPO
The IPO will begin on September 26 and will be available for subscription till September 29. The company plans to raise over ₹22.16 crore through the IPO. The public issue is an entirely fresh issue.
Under the fresh issue, the company offers 61,56,000 equity shares for the subscription. The price band for the IPO is fixed at ₹36 to ₹38 per share.
Holani Consultants is acting as the book running lead manager (BRLM) for the IPO.
The shares will be listed on the SME platform of BSE. That said, the IPO will be available on BSE for the subscription.
The company plans to utilise the proceeds of the issue for working capital requirements and general corporate purposes.
Isolation Energy is into the business of solar PV module technologies for more than the last 5 years, during which time they have developed strong engineering capabilities in producing high-efficiency PV modules. The company has successfully established a geographically diversified presence in India through an extensive distributor network of over 30 distributors.
In the past three fiscals, the company has garnered healthy growth in revenue and PAT. Its profit stood at ₹6.93 crore in FY22 against ₹6.89 crore in FY21 and ₹3.09 crore in FY20. Revenue from operations jumped to ₹215.32 crore in FY22 versus ₹162.69 crore in FY21 and ₹88.75 crore in FY20.
Concord Control Systems IPO
Concord Control Systems is set to launch its IPO on September 27 and will be available for subscription till September 29. The IPO is a purely fresh issue and the company plans to raise about ₹8.32 crore at the upper price band.
Under the IPO, the company will offer 15,12,000 equity shares at a price band of ₹53 per share and ₹55 per share.
HEM Securities is acting as the book running lead managers (BRLM). Axis Bank is the sponsor bank for the issue.
The equity shares will be listed on the SME platform of BSE.
The proceeds of the issue will be utilised to meet working capital requirements, general corporate purposes, and to meet issue expenses.
Concord Control Systems is engaged in the business of manufacturing and supply of coach-related and electrification products for Indian Railways and other Railway Contractors. The company manufactures products required in railway coaches like --- Inter-Vehicular Coupler, Emergency Lighting System, Brushless DC carriage fan, Exhaust fans, Cable Jackets, Bellows, etc. and products required in the electrification of coaches and Broad Gauge network of Indian Railways like -- Battery Charger 200 AH, Battery Charger 40 AH, Tensile Testing Machine.
As of March 31, 2022, the company's net worth is around ₹7.54 crore up from ₹4.95 crore in FY21 and ₹3.51 crore in FY20. PAT is at ₹2.59 crore versus ₹1.43 crore in FY21 and ₹1.05 crore in FY20.
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