Om Metallogic Launches Rs 22.35 Crore IPO on September 29
Om Metallogic, an aluminium recycling company from Haryana, is launching its IPO on September 29, 2023, aiming to raise Rs 22.35 crore. The issue of 25.98 lakh equity shares is priced at Rs 86 per share. The subscription period is from September 29 to October 1, with listing scheduled for October 7 on BSE SME. The company, with an annual production capacity of 5,280 tonnes, reported a revenue of Rs 60.41 crore and profit of Rs 4.12 crore in FY25. IPO proceeds will fund facility modernization, working capital, debt repayment, and general corporate purposes. Grey market indicators suggest expectations of a flat listing.
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Om Metallogic, an aluminium recycling company based in Haryana, is set to open its Initial Public Offering (IPO) on September 29, 2023. The company aims to raise Rs 22.35 crore through the fresh issue of shares on the BSE SME platform.
IPO Details
- Issue Size: 25.98 lakh equity shares
- Price: Rs 86 per share
- Subscription Period: September 29 - October 1, 2023
- Allotment Date: October 3, 2023
- Listing Date: October 7, 2023 (BSE SME)
- Minimum Investment: Rs 2.75 lakh for 1,600 shares
Company Overview
Om Metallogic operates from Ballabhgarh, Haryana, with an annual production capacity of 5,280 tonnes. The company specializes in producing aluminium alloys for various industries, including:
- Automotive
- Construction
- Electrical
- Packaging
Financial Performance
The company has shown significant growth in its recent financial results:
| Fiscal Year | Revenue (Rs Crore) | Profit (Rs Crore) |
|---|---|---|
| FY25 | 60.41 | 4.12 |
| FY24 | 38.91 | 2.22 |
- Revenue growth: 55% year-over-year
- Profit growth: 86% year-over-year
Use of IPO Proceeds
The funds raised from the IPO will be allocated as follows:
- Facility modernization: Rs 2.31 crore
- Working capital: Rs 8.50 crore
- Debt repayment: Rs 6 crore
- General corporate purposes: Remaining amount
Market Expectations
According to grey market indications, there is currently no premium for Om Metallogic shares, suggesting expectations of a flat listing.
Investors interested in the Om Metallogic IPO should conduct thorough research and consider their risk appetite before making investment decisions. As with any investment, it's advisable to consult with a financial advisor to determine if this opportunity aligns with individual financial goals and risk tolerance.
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