Priyanka Tiwari
Share
Suspense crime, Digital Desk : The primary market is set to welcome a new public issue as industrial engineering firm Atam Valves Ltd. announces its Initial Public Offering (IPO). The subscription for this SME (Small and Medium Enterprise) IPO will open on Friday, April 26, and close on Tuesday, April 30, 2024.
The company is aiming to raise approximately ₹4.41 crore through a fixed-price issue. This IPO presents an opportunity for investors to get in on the ground floor of a specialized industrial manufacturing business.
Here are the key details for potential investors:
IPO Details at a Glance
Issue Price: The company has set a fixed price of ₹40 per share.
Lot Size: The IPO will be available in a minimum lot size of 3,000 shares.
Minimum Investment: For retail investors, the minimum investment required is ₹1,20,000 (3,000 shares x ₹40 per share).
Total Issue Size: The company will offer 1,104,000 new equity shares.
Listing Platform: The shares are proposed to be listed on the BSE SME platform.
About the Company
Based in Jalandhar, Punjab, Atam Valves is a manufacturer and supplier of a range of industrial valves and fittings. Their products, which include various types of valves, cocks, and boiler mountings, are critical components used across numerous industries for controlling the flow of liquids and gases.
Use of IPO Funds
Atam Valves intends to allocate the net proceeds from the IPO to fund its strategic growth initiatives. The primary objectives include purchasing new machinery to enhance production capacity, meeting its working capital requirements, and covering general corporate expenses.
This public offering offers retail investors a chance to invest in a niche industrial manufacturing company as it seeks to scale its operations.
Read More: Reliance Jio and Airtel Introduce Cheapest Annual Prepaid Plans for Long Term Users
