June 14, 2024
New Delhi, India
IPO Watch
The initial public offering (IPO) of Falcon Technoprojects India Ltd is set to debut on June 19, offering investors a new opportunity to invest in a company providing Mechanical, Electrical, and Plumbing (MEP) services across diverse industries.
IPO Details
- Issue Opening Date: June 19
- Issue Closing Date: June 21
- Price Band: ₹92 per share (9.2 times the face value of ₹10 each)
- Lot Size: 1,200 equity shares
- Fresh Issue: 14,88,000 equity shares
- Issue Size: ₹13.69 crore
- No Offer-for-Sale (OFS) Component
Company Overview
Falcon Technoprojects India Ltd specializes in delivering MEP services to various sectors including petroleum refineries, residential townships, atomic energy, and civil construction. The company boasts an impressive portfolio, having completed over 145 projects for more than 50 clients across 17 Indian states. Notable clients include Mumbai International Airport, L&T, BPCL, HPCL, Lodha Developers, Reliance Industries, and Shapoorji Pallonji Group.
Use of Funds
The company aims to utilize the IPO proceeds primarily for:
- Working Capital Requirements: 78.53% of the net proceeds
- Other Corporate Purposes: 20.50% of the net proceeds
Key Dates
- Basis of Allotment: June 24
- Commencement of Refunds: June 25
- Credit of Shares to Demat Accounts: June 25
- Listing Date on NSE SME: June 26
Market and Comparisons
Falcon Technoprojects has analyzed comparable listed companies but concluded that no direct comparisons can be made due to differences in business models and revenue structures. As a result, the company has not provided an industry comparison.
IPO Management
- Book-Running Lead Manager: Kunvarji Finstock Pvt Ltd
- Registrar: Kfin Technologies Limited
- Market Maker: Nikunj Stock Brokers
Conclusion
The Falcon Technoprojects IPO offers investors a chance to invest in a well-established MEP service provider with a robust project portfolio and notable clientele. With its funds allocated towards working capital and corporate purposes, Falcon Technoprojects aims to strengthen its operational capabilities and continue its growth trajectory. Keep an eye on the key dates and ensure your applications are timely to participate in this IPO.
Disclaimer:
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