Shares Samadhan SME IPO To Open On 09 September

The initial public offering (IPO) of Shares Samadhan will open for public subscription on 09 September in an attempt to raise over Rs 20 crore from the public market. 
 

The Rs 24.06 crore IPO consisted exclusively of fresh issues with a price band of Rs 70 to 74 per equity share.   
 

Retail investors can bid for a maximum of 1 lot containing 1,600 shares with a minimum capital requirement of 1,18,400. 

The issue is scheduled to open on 09 September and will be closed on 11 September. The allotment for the issue will be finalised on 12 September followed by its listing on National Stock Exchange (NSE) Emerge on 16 September. 

Narnolia, Financial Services is the book running lead manager and Skyline Financial Services is the registrar to the offer. 

The net proceeds of Rs 24.06 crore will be utilised to meet the investment in technology and to meet the expenses for unidentified acquisition for the company. 

Additionally the funds will also be used for funding capital expenditure requirements for purchase of equipment and general corporate purposes.
 

Moreover, the firm will also get benefits on listing in the public market which will enhance the brand’s visibility and provide liquidity to the shareholders. 

The company reported revenue of Rs 9.96 crore in FY 2024 against Rs 2.76 crore in FY 2023. 

While, the profit after tax (PAT) stood at Rs 3.91 crore in FY 2024 against profit of Rs 0.48 crore in FY 2023