Sihora Industries Launches Rs 10.56 Crore SME IPO: Key Details for Investors
Sihora Industries, a manufacturer of narrow woven fabrics and textile products, has launched its SME IPO. The subscription period is from October 10 to October 14, 2023, with an issue size of Rs 10.56 crore. The company is offering 16,00,000 equity shares at Rs 66 per share. The minimum bid quantity is 4,000 shares, and the maximum is 15,20,000 shares. Sihora Industries, incorporated in 2023, specializes in various textile products including narrow woven fabrics, lace, and technical textiles. The expected listing date is October 17, 2023, on the BSE SME platform. Currently, the shares show no grey market premium.
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Sihora Industries, a manufacturer of narrow woven fabrics and related textile products, has opened its Small and Medium Enterprise (SME) Initial Public Offering (IPO) for subscription. Here's what investors need to know about this new market entrant:
IPO Details
| Particular | Details |
|---|---|
| Subscription Period | October 10 - October 14, 2023 |
| Issue Size | Rs 10.56 crore |
| Fresh Issue | 16,00,000 equity shares |
| Price per Share | Rs 66.00 |
| Minimum Bid Quantity | 4,000 shares |
| Maximum Bid Quantity | 15,20,000 shares |
| Listing Platform | BSE SME |
About Sihora Industries
Sihora Industries, incorporated in 2023, specializes in the manufacture of:
- Narrow woven fabrics
- Lace
- Digitally printed fabrics
- Woven labels
- Tapes
- Zippers
- Elastics
- Technical textiles
The company caters to both fashion and industrial sectors, indicating a diverse product portfolio.
Key Dates
- Share Allotment: Scheduled for October 15, 2023
- Expected Listing Date: October 17, 2023
IPO Management
| Role | Entity |
|---|---|
| Book Running Lead Manager | Sobhagya Capital Options Ltd |
| Registrar | Bigshare Services Private Ltd |
| Sponsor Bank | Kotak Mahindra Bank Limited |
Market Sentiment
As of now, the shares of Sihora Industries show no grey market premium, which could indicate neutral market sentiment towards the IPO.
Investor Considerations
New Entrant: Sihora Industries is a recently incorporated company (2023), which means it has a limited operational history. Investors should carefully review the company's business plan and growth prospects.
SME Sector: As an SME IPO, this offering comes with both the growth potential and risks associated with smaller companies. The BSE SME platform provides opportunities for small companies to raise capital, but these stocks may have lower liquidity compared to the main board.
Diverse Product Range: The company's wide range of textile products could be seen as a strength, potentially allowing it to cater to various market segments.
Market Conditions: Investors should consider the current market conditions and the performance of the textile sector when making their investment decision.
Potential investors are advised to read the offer documents carefully and consult with financial advisors before making an investment decision. As with any IPO, particularly in the SME segment, thorough research and understanding of the company and market dynamics are crucial.
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