Readymix Construction Machinery shares make flat debut, list at ₹123 on NSE SME, same as IPO price
Readymix Construction Machinery shares made a completely flat debut on Thursday, February 13, listing at ₹123 on NSE SME, same as its IPO price.
Readymix Construction Machinery IPO listing: Readymix Construction Machinery shares made a completely flat debut on Thursday, February 13, listing at ₹123 on NSE SME, same as its IPO price.
Readymix Construction Machinery's initial public offering (IPO), valued at ₹37.66 crore, was open for subscription from February 6 to February 10. The SME IPO price was fixed at ₹123 per equity share.
Following the three days of bidding, Readymix Construction Machinery IPO closed with decent demand, garnering 4.61 times bids. The IPO received bids for 93.87 lakh shares against 20.37 lakh shares on offer. The retail investor segment was booked 4.26 times, while the non-institutional investors (NII) category was subscribed 4.76 times. Moreover, the Qualified Institutional Buyers quota was bid 5.1 times in the 3 days of bidding.
About the IPO
Readymix Construction Machinery IPO was entirely a fresh issue of 30.62 lakh shares with no offer for sale component. Retail investors could apply with a minimum lot size of 1,000 shares, requiring a minimum investment of ₹1.23 lakh.
The company plans to utilize the proceeds from the issue for multiple objectives, including the repayment or partial prepayment of outstanding borrowings, meeting its working capital requirements, and addressing general corporate purposes.
Hem Securities Limited is the book-running lead manager of the Readymix Construction IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Readymix Construction IPO is Hem Finlease Private Limited.
About the Company
Founded in 2012, Readymix Construction Machinery Limited is a diversified manufacturer and supplier in the construction equipment industry.
The company specializes in engineering solutions for the design, development, fabrication, and installation of plant machinery and equipment. Its offerings include Dry Mix Mortar Plants, concrete plant support systems, silos, and custom-built projects tailored to client needs.
Providing comprehensive turnkey solutions, Readymix Construction Machinery handles every stage, from conceptualization and development to fabrication, testing, and installation. Additionally, the company offers after-sales services, including repair and maintenance, ensuring seamless operation of its machinery and equipment.
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