Essen Speciality Films IPO: Manufacturer and Exporter of Plastic Products Set to Raise ₹66 Cr.
Essen Speciality Films, a leading manufacturer and exporter of specialized plastic products, is all set to open its initial public offering (IPO) for subscription Today. The company aims to raise a substantial amount of ₹66 crore from the primary market.
Catering to the home improvement and home furnishing industry, Essen Speciality Films exports its unique plastic products to renowned multinational trade retailers such as IKEA, Walmart, Kmart, Kroger, and more. The SME IPO will run for a period of four days, concluding on June 27.
Here are 11 key points you need to know about the Essen Speciality Films IPO:
Essen Speciality Films IPO Dates:
Mark your calendars as the IPO will commence on June 23 and come to a close on June 27.
IPO Price Band:
The price band for the Essen Speciality Films IPO has been set at ₹101 – ₹107 per share, offering investors a range of options.
The total issue size of the IPO is 61.99 lakh shares. At the upper end of the price band, the issue size will amount to a significant ₹66 crore.
The Essen Speciality Films IPO consists of a fresh issue of 46.99 lakh shares and an offer for sale of 15 lakh shares, providing an opportunity for investors to participate in the company’s growth.
Investors will be able to purchase shares in lots of 1,200 shares, allowing for flexibility based on individual investment preferences.
The company has allocated 50% of the net offer for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and the remaining 35% for the Retail Investors’ category, ensuring a fair distribution of shares.
Pallav Kishorbhai Doshi, Khushboo Chandrakant Doshi, and Karishma Rajesh Doshi are the dedicated promoters of Essen Speciality Films. Post-IPO, the promoter holding in the company will decrease from 100% to 70%.
Lead Manager, Registrar, Market Maker:
GYR Capital Advisors Pvt. Ltd. has been appointed as the sole lead manager for the IPO. Bigshare Services Pvt. Ltd. will act as the registrar to the IPO, ensuring smooth operations throughout the process. Additionally, SMC Global Securities Ltd. has been chosen as the market maker for Essen Speciality Films.
The net proceeds generated from the IPO will be utilized for prepayment and repayment of certain borrowings, meeting working capital requirements, and supporting general corporate purposes, thereby strengthening the company’s financial position.
Allotment and Listing:
The basis of allotment of shares will be finalized on July 3, with refunds initiated on July 4. Eligible allottees can expect their shares to be credited on July 5. The highly anticipated listing of Essen Speciality Films shares is expected to take place on July 6 at NSE Emerge.
Essen Speciality Films IPO GMP:
According to IPOWatch, the Grey Market Premium (GMP) for Essen Speciality Films IPO stands at ₹40 today. This indicates a premium of ₹40 for the shares in the grey market as of June 22.
Considering the current Essen Speciality Films IPO GMP and the upper end of the price band, it is projected that the company’s shares may be listed at ₹147, representing an impressive premium of 38% to the issue price.
About Essen Speciality Films:
Essen Speciality Films Private Limited specializes in the production of home furnishing products. Their extensive range includes shower curtains, coasters, desk mats, and drawer mats. With a focus on quality and design, Essen Speciality Films caters to customers throughout India, delivering innovative solutions for enhancing home interiors.
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