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HomeNewsBusinessIPOFinal Day: AJC Jewel, Icon Facilitators, Shri Hare-Krishna Sponge IPOs see decent subscription; Abram Food issue booked over 27x

Final Day: AJC Jewel, Icon Facilitators, Shri Hare-Krishna Sponge IPOs see decent subscription; Abram Food issue booked over 27x

All these four companies will finalise their IPO allotments by June 27, followed by their tentative listing on July 1. Amongst them, AJC Jewel Manufacturers, Icon Facilitators, and Abram Food will debut on the BSE SME, while Shri Hare-Krishna Sponge Iron is set to list shares on the NSE Emerge.

June 26, 2025 / 19:56 IST
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Total four companies closed their initial public offerings in the SME segment on June 26. Amongst them, AJC Jewel Manufacturers, Icon Facilitators, and Shri Hare-Krishna Sponge Iron IPOs attracted decent response from investors, while Abram Food offer performed better than others, garnering strong demand on the final day.

All these four companies will finalise their IPO allotments by June 27, followed by their tentative listing on July 1. Amongst them, AJC Jewel Manufacturers, Icon Facilitators, and Abram Food will debut on the BSE SME, while Shri Hare-Krishna Sponge Iron is set to list shares on the NSE Emerge.

Abram Food's Rs 14-crore initial share sale was subscribed 27.15 times with investors buying 3.87 crore equity shares compared to the offer size of 14.28 lakh shares via 9,626 applications.

The New Delhi-based company manufactures and trades in chana dal, flour, besan, multi grain atta, maida, sooji, spices, cattle feed and edible oils under the brand name of Kherliwala. It intends to utilise IPO proceeds for purchase of machineries, working capital requirement, and general corporate purposes.

The initial public offering of Icon Facilitators, the technical services provider, saw 2.42 times subscription during June 24-26. Investors have applied for 50.77 lakh shares against its offer size of 21 lakh shares, via 3,417 applications.

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The company primarily concentrated in North India presence offers technical facilities management services. It will utilise offer proceeds mainly for its working capital requirements.

Shri Hare-Krishna Sponge Iron launched its Rs 30-crore book-building issue on June 24, which subscribed 6.43 times till Thursday, the final day of bidding, with investors bidding 2.33 crore shares compared to the offer size of 36.3 lakh shares via 2,861 applications.

Incorporated in 2003, the sponge iron manufacturer caters to the metallic requirements of steel producers in selected geographies through its manufacturing facility in Chhattisgarh. It proposed to utilise offer proceeds majorly for setting up of captive power plant at Siltara – Raipur at a cost of Rs 23 crore.

Amongst these four companies, AJC Jewel Manufacturers is the only firm opened its Rs 15.4-crore IPO for four days from June 23-26. The public issue was subscribed 2.91 times with investors buying 31.48 lakh shares compared to the offer size of 10.83 lakh shares via 696 applications.

The Kerala-based gold jewellery maker is going to utilise IPO funds for purchase of new equipment, and repaying debt.

Moneycontrol News
first published: Jun 26, 2025 07:56 pm

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