Energy Mission Machineries IPO: Subscription Details and Objectives
The Energy Mission Machineries IPO, which opened for subscription today, May 9th, aims to raise approximately ₹ 41 crore through the issuance of 29.82 lakh equity shares. The price band for the issue has been set at ₹ 131-138. There is no Offer for Sale component. The proceeds from the IPO will primarily be used to fund the company’s expansion plans, including civil construction work, a new plant and machinery at its existing manufacturing unit in Sanand, as well as for meeting working capital requirements and general corporate purposes.
Allotment and Listing Details
The share allotment of the Energy Mission Machineries IPO will be finalized on May 14th, and the shares are likely to be listed on the NSE SME’s Emerge platform on May 16th.
Lot Size and GMP
Investors can apply for a minimum of 1000 equity shares and in multiples thereof. In the grey market, shares of Energy Mission Machineries (India) Ltd are trading ₹ 110 higher than the issue price, indicating expectations of a positive listing gain.
