Aluminium wires and rods maker Sampat Aluminium tapped capital markets to raise funds for expansion as it will launch its maiden public issue for subscription next week on September 17.
This would be the second SME IPO opening in the coming week after well-known investor Vijay Kedia-backed TechD Cybersecurity public issue.
Sampat Aluminium is raising Rs 30.5 crore via initial share sale of 25.44 lakh shares which consists of entirely fresh issue. The price band for the offer has been fixed at Rs 114-120 per share.
The public issue will remain open till September 19. The company will finalise IPO share allotment by September 22, while its shares will be available for trading on the BSE SME on September 24.
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The Gujarat-based company that manufactures cast and hot-rolled aluminium products through its Kalol plant (Gujarat) with installed capacity of 8,400 MTPA will utilise Rs 23.32 crore of IPO proceeds for setting up a new manufacturing facility at Borisana, Gujarat. The remainder IPO funds will be used for general corporate purposes.
Sampat Aluminium has reported mixed set of earnings performance in the financial year ended March 2025 with profit rising 5.4 percent to Rs 6.9 crore, and revenue declining 9.7 percent to Rs 132.7 crore compared to previous year.
Marwadi Chandarana Intermediaries Brokers is acting as the merchant banker for the Sampat Aluminium IPO.
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