Holmarc Opto-Mechatronics debuted on the bourses with a 63 percent premium to its issue price on September 25. The stock started trading at Rs 65.25 on the NSE SME platform, while the issue was priced at Rs 40.
At 11:31am, the stock was trading at Rs 68.50, higher by 71.25 percent against the issue price.
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The initial public offering (IPO) of Holmarc Opto-Mechatronics Ltd, a manufacturer of scientific and engineering instruments, opened for public bidding on September 15 and closed on September 20.
The IPO comprised 28.50 lakh equity shares, all of which were freshly issued by the company. Holmarc Opto-Mechatronics Ltd aims to raise Rs 11.40 crore from the public offer.
The public issue was oversubscribed 75.78 times in the retail category and 93.27 times in the Non-Institutional Investors’ (NII) category.
The book running lead manager for the Holmarc Opto-Mechatronics IPO was Finshore Management Services, with Cameo Corporate Services serving as the IPO registrar.
Holmarc Opto-Mechatronics manufactures a variety of scientific and engineering instruments for research, industry, and education, including imaging instruments, measuring instruments, spectroscopy, analytical instruments, lab instruments, physics lab instruments, opto-mechanics, optics, linear and rotation stages, motorised linear and rotation stages, industrial automation, and more.
Financial performance
According to the financial data provided in the prospectus, when comparing the company's performance in FY23 to that in FY22, the total revenue increased to Rs 29.18 crore from Rs 21.17 crore in FY22. This increase can primarily be attributed to the growth in the company's revenue from operations.
The revenue from operations for FY 2022-23 increased to Rs 29.03 crore, up from Rs 21.02 crore in FY 2021-22. The several factors contributing to this increase in revenue from operations were:
1. Increase in purchase orders
2. Easing of Covid restrictions
3. Rise in production resulting from increased capital investments, including additions to plant and machinery
4. Optimal utilisation of employee strength and raw material inputs, among other factors
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