The SME IPO of Faalcon Concepts used to be subscribed 89% on the first day of the bidding job. The discipline bought bids for 16.5 lakh shares in opposition to 18.5 lakh shares on provide.
The class reserved for NII traders used to be subscribed 40%, while that of retail traders used to be booked 1.Three times. The discipline closes on April 23. About 50% of the provide is reserved for retail traders and 50% for other traders.
The IPO is entirely a new equity discipline of 19.5 lakh shares and by the topic, the corporate objectives to rob almost about Rs 12 crore. The company is offering its shares at Rs 62 apiece, and traders can expose for 2000 shares in 1 lot
In the unlisted market, the corporate's shares haven't any GMP, indicating a flat itemizing if the trend sustains.
Faalcon Concepts is engaged in the designing, engineering, fabrication, and installation of façade systems. The company acknowledged it believes in offering solutions to potentialities for their requirement of façade installation in complex projects. It also specialises in technically nerve-racking facades.
The India facade market dimension reached $2,638.2 million in 2022. The market is expected to attain $4,254.5 million by 2028, exhibiting a boost rate (CAGR) of 8.23% for the length of 2023-2028.
For the length ended December 2023, the corporate clocked revenues of Rs 12.46 crore and earn profit of Rs 1.31 crore.
The earn proceeds from the topic will most likely be faded to finance the capital expenditure for procuring facade structural experiments, working capital requirements, and standard company purposes.
The IPO opened on April 19 and could presumably well well discontinuance on April 23. The final portion is continuously made on April 24. The company's shares will most likely get listed on April 26.
Navigant Company Advisors is the lead supervisor to the topic and Beetal Financial and Computer Products and companies is the registrar.
