Energy Mission Machineries India Lists At 165% Premium

(MENAFN- KNN India) New Delhi, May 16 (KNN) Energy Mission Machineries India, a manufacturer of metal-forming machines, made a stellar debut on the NSE SME platform.

The company's shares commenced trading at Rs 366, marking a staggering premium of 165.21 per cent over the issue price of Rs 138.

The impressive listing gains surpassed expectations from the grey market, where the shares were commanding a premium of 93 per cent ahead of the listing.

Energy Mission Machineries India's Rs 41-crore initial public offering (IPO), comprising a fresh issue of 29.82 lakh shares, received an exceptional response from investors. The issue was oversubscribed by a remarkable 320.67 times on the final day of bidding.

The robust demand was evident across all investor categories. Qualified Institutional Buyers (QIBs) subscribed 161.92 times, while Non-Institutional Investors (NIIs) subscribed a staggering 605.19 times.

Retail investors also showcased significant interest, subscribing to 279 times their allocated portion.

Established in 2011, Energy Mission Machineries India specialises in designing and manufacturing a diverse range of metal-forming machines, including press brakes, shearing machines, plate rolling equipment, ironworkers, hydraulic presses, and busbar bending, cutting, and punching machines.

The company plans to utilise the proceeds from the IPO for various purposes, such as funding capital expenditure for civil construction work at its existing manufacturing unit in Sanand, Gujarat, and installing new plant and machinery.

Additionally, the funds will be allocated to meet working capital requirements and for general corporate purposes.

(KNN bureau)


KNN India

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