The new fiscal is starting off with a bang, at least as far as initial public offers are concerned. With the stock markets well placed and general elections on the horizon, how these share sales go will have some interesting lessons for investors. While most people’s eyes are on Bharti Hexacom IPO, since it is a unit of one of the biggest telecom companies in India, there is another one that has been a bit under the radar. This is the Teerth Gopicon IPO.
The company is an an engineering construction and development company that is based in Ahmedabad and mainly focuses on roads, sewerage, and water distribution projects. The company was established in 2019. Also, the company has worked as a registered civil contractor for various central and state government departments. It has undertaken building work for the private sector too. The Teerth Gopicon IPO date to enter the capital market is April 8, 2024.
“A major catalyst fueling optimism in the primary market and brightening the outlook for upcoming listings is the push to unlock value. This drive to unlock value is a win-win for promoters and investors, setting the stage for exciting opportunities ahead,” Live Mint quoted Mahavir Lunawat, Managing Director, Pantomath Capital Advisors as saying.
Here are 10 points that investors must note about this share sale:
1. Teerth Gopicon IPO issue price is ₹111 per share.
2. Teerth Gopicon IPO aims to raise up to ₹44.40 crore through the public issue.
3. Teerth Gopicon IPO subscription will open on Monday and close on April 10.
4. The company’s shares will be listed on NSE’s SME platform Emerge.
5. Notably, the IPO includes a fresh issue of 39.99 lakh equity shares with a face value of ₹10 each.
6. Where will the proceeds from the IPO go? They will fund the company’s expansion plans (working capital requirements: ₹33.40 crore; general corporate purposes: ₹10.24 crore).
7. Investors can bid for a minimum of 1,200 equity shares, with subsequent bids in multiples of 1,200 shares, requiring a minimum investment of ₹1.33 lakh.
8. As of January 31, 2024, the company’s order book stands at ₹904.98 crore.
9. On a revenue of ₹69.70 crore in FY2023-24 (April-January period), the company reported a net profit of ₹7.84 crore. And on a revenue of ₹39.15 crore In FY2022-23, it recorded a net profit of ₹1.80 crore.
10. Sole book-running lead manager: Interactive Financial Services Ltd; IPO Registrar: Bigshare Services.
Other IPOs opening next week
DCG Cables and Wires IPO: 49.99 crore
Greenhitech Ventures IPO: Rs. 6.3 crore
IPOs listing next week
Bharti Hexacom IPO: Allotment likely to be finalised on April 8 and listing on BSE and NSE may be on April 12.
Aluwind Architectural IPO: Listing date may well be April 9.
Creative Graphics Solutions India IPO: Listing date is likely April 9.
Jay Kailash Namkeen IPO: Listing will likely be on April 8
K2 Infragen IPO: Listing will likely be on April 8
Yash Optics & Lens IPO: Listing will likely be on April 8.
