Ameenji Rubber Gears Up for Rs 30 Crore IPO on BSE SME Platform
Ameenji Rubber, a manufacturer of specialized rubber products for railways and infrastructure, is launching its IPO on the BSE SME platform to raise Rs 30 crore. The IPO will offer 30 lakh shares at a price band of Rs 95-100 per share, with subscription open from September 26-30. The company, which produces elastomeric bridge bearings and expansion joints, has shown strong financial growth with FY24 revenue at Rs 84.24 crore and profit after tax at Rs 4.31 crore. IPO proceeds will be used for machinery modernization, debt repayment, and general corporate purposes. The expected listing date is October 6 on BSE SME.
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Ameenji Rubber, a specialized manufacturer of rubber products for railways and infrastructure, is set to launch its Initial Public Offering (IPO) on the BSE SME platform. The company aims to raise Rs 30 crore through this public issue, marking a significant step in its growth trajectory.
IPO Details
- Subscription Period: September 26-30
- Offer Size: 30 lakh shares
- Price Band: Rs 95-100 per share
- Minimum Investment: 2,400 shares (Rs 2.40 lakh)
- Allotment Date: October 1
- Expected Listing: October 6 on BSE SME
Company Overview
Ameenji Rubber specializes in manufacturing rubber products crucial for railways and infrastructure projects. Their product lineup includes:
- Elastomeric bridge bearings
- Expansion joints
The company boasts approvals from the Ministry of Road Transport and Highways (MoRTH) and holds registration with the Research Designs and Standards Organisation (RDSO), underscoring the quality and reliability of their products.
Financial Performance
The company has demonstrated strong financial growth in recent years:
| Fiscal Year | Revenue (Rs Crore) | Profit After Tax (Rs Crore) |
|---|---|---|
| FY24 | 84.24 | 4.31 |
| FY23 | 74.21 | 3.50 |
This represents a year-on-year revenue growth of approximately 13.5% and a profit after tax increase of about 23.1%.
Utilization of IPO Proceeds
The funds raised through the IPO will be allocated as follows:
- Rs 14.9 crore for machinery modernization and conveyor belting unit
- Rs 5 crore for debt repayment
- Remaining amount for general corporate purposes
Market Sentiment
As of now, the grey market premium for Ameenji Rubber IPO stands at zero, suggesting uncertain listing gains. However, investors should note that grey market premiums are unofficial and subject to change.
Conclusion
Ameenji Rubber's IPO presents an opportunity for investors to participate in the growth of a company operating in the specialized rubber products sector for railways and infrastructure. While the company has shown promising financial growth, potential investors should carefully review the offer document and consider their risk appetite before making an investment decision.
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