Sharvaya metals IPO: The IPO of Sharwaya Metals opened on 4 September. It has received 1.67 times subscription so far. Retail category: 2.37 times, 1.06 times in NII category and 0.90 times in QIB category. The gray market premium of this SME IPO is currently stable at Rs 20, which is about 10.2% more than the cap price. This IPO is open till 9 September.
The price band of the issue has been kept at Rs 192–196 per share. Retail investors will have to buy a lot of 600 shares of 600 shares, that is, at least Rs 2.35 lakh will have to be invested. This issue will raise Rs 58.80 crore through the book building process.
Sharvaya Metals produces aluminum products such as alloyed ingots, billets, slabs and sheets. The company also makes advanced components such as battery incursor for the electric vehicle (EV) sector. The company’s profit after tax (PAT) has increased by 715% during the financial year 2024–25. This figure reflects the company’s strong growth and future prospects.
The company will use the amount raised from the IPO for these objectives:
– Working capital requirements
– 20.40 crore rupees on new plants and machinery
– 5.17 crore rupees on civil construction and electrification
– The remaining amount for general corporate needs.
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