SK Minerals & Additives Launches Rs 41.15 Crore SME IPO
SK Minerals & Additives, a manufacturer of industrial minerals and specialty chemicals, has opened its SME IPO for subscription. The company aims to raise Rs 41.15 crore by offering 32.40 lakh equity shares at a price band of Rs 120-127 per share. The IPO subscription period is from October 10 to October 14, 2023, with listing expected on October 17 on the BSE SME platform. The IPO consists entirely of a fresh issue of shares. The company, incorporated in February 2022, specializes in products like Bentonite, Barite, Talc, Dolomite, and Kaolin. Khambatta Securities is the lead manager, and Maashitla Securities is the registrar for the IPO. The grey market currently shows no premium for the shares.
*this image is generated using AI for illustrative purposes only.
SK Minerals & Additives, a manufacturer and supplier of industrial minerals and specialty chemicals, has opened its Small and Medium Enterprise (SME) Initial Public Offering (IPO) for subscription. The company aims to raise Rs 41.15 crore through this public issue.
IPO Details
| Particular | Details |
|---|---|
| Issue Size | 32.40 lakh equity shares |
| Price Band | Rs 120 - Rs 127 per share |
| Subscription Period | October 10 - October 14, 2023 |
| Listing Platform | BSE SME |
| Tentative Listing Date | October 17, 2023 |
About the Offer
The IPO consists entirely of a fresh issue of shares, with no offer for sale component. This suggests that the company intends to use the raised capital for its growth and expansion plans, although the specific use of proceeds has not been mentioned in the provided information.
Company Overview
SK Minerals & Additives, incorporated in February 2022, specializes in the manufacturing and supply of industrial minerals and specialty chemicals. Their product portfolio includes:
- Bentonite
- Barite
- Talc
- Dolomite
- Kaolin
These materials find applications across various industries, though specific end-use sectors have not been detailed in the available information.
IPO Management
| Role | Entity |
|---|---|
| Lead Manager | Khambatta Securities |
| Registrar | Maashitla Securities |
Market Sentiment
As of the IPO opening, the grey market showed no premium for SK Minerals & Additives shares. This neutral stance in the unofficial market might indicate cautious investor sentiment or limited pre-listing demand for the shares.
Investor Considerations
Potential investors should note that SK Minerals & Additives is a relatively new company, having been incorporated just last year. This factor may influence the company's track record and financial history available for analysis.
As with all investments, particularly in the SME segment, investors are advised to carefully review the company's prospectus, financial statements, and risk factors before making an investment decision. The SME platform typically carries higher risks and volatility compared to the main board, which should be factored into investment strategies.
The success of this IPO could provide insights into investor appetite for SME stocks in the industrial minerals and specialty chemicals sector, as well as the overall sentiment towards new listings in the current market environment.
18
