ENA MSME 2024-08-06 17:14:20 <p><span style="font-size:14px"><strong>New Delhi, Aug 6 (KNN)</strong> Rajputana Industries Limited, a manufacturer of non-ferrous metal products, made a robust debut on the National Stock Exchange's Small and Medium Enterprise (NSE SME) platform today.</span></p> <p><span style="font-size:14px">The company's shares opened at Rs 72.20, marking a significant 90 percent premium over the issue price of Rs 38.</span></p> <p><span style="font-size:14px">The Initial Public Offering (IPO), which raised Rs 23.88 crore, offered 62.85 lakh new shares in a price band of Rs 36-38.</span></p> <p><span style="font-size:14px">The subscription period lasted from July 30 to August 1, with share allotment completed on August 2.</span></p> <p><span style="font-size:14px">The IPO garnered substantial investor interest, achieving an overall subscription of 376.41 times. The retail category saw the highest oversubscription at 524.61 times, followed by Non-Institutional Investors (NII) at 417.95 times and Qualified Institutional Buyers (QIB) at 177.94 times.</span></p> <p><span style="font-size:14px">Prior to the public issue, the company raised Rs 6.12 crore from anchor investors on July 29.</span></p> <p><span style="font-size:14px">Rajputana Industries plans to utilise the IPO proceeds for enhancing working capital, acquiring a grid solar power generating system, and meeting general corporate expenses.</span></p> <p><span style="font-size:14px">Holani Consultants Pvt Ltd served as the book-running lead manager, while Bigshare Services Pvt Ltd acted as the registrar for the issue.</span></p> <p><span style="font-size:14px">Founded in 2011, Rajputana Industries specialises in manufacturing a range of non-ferrous metal products, including copper, aluminum, brass, and various alloys, using recycled scrap metal.</span></p> <p><span style="font-size:14px">The company's production facility in Sikar, Rajasthan, processes scrap metal into billets and further into products such as rods, wires, and conductors for various industrial applications.</span></p> <p><span style="font-size:14px">For the fiscal year ending March 31, 2024, Rajputana Industries reported a 28 percent increase in revenue to Rs 327 crore, while profit after tax (PAT) grew by 65 percent to Rs 5 crore.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38878 https://knnindia.co.in/news/newsdetails/msme/rajputana-industries-soars-90-above-issue-price-in-strong-nse-sme-debut 2024-08-06 17:14:20 knnindia.co.in