Energy Mission Machineries IPO opens for subscription: Check price band, issue size, minimum investment and allotment

Energy Mission Machineries IPO, a book-build issue of ₹41.15 crore, opened for subscription on Thursday, May 9. The NSE SME issue is entirely a fresh issue of 29.82 lakh shares of a face value of ₹10 each.

The IPO subscription window will close on May 13.

The initial public offer of Energy Mission Machineries was booked 22% after the opening of the subscription window. The public issue received bids for 4.46 lakh shares against 19.83 lakh shares on offer, the NSE data until 10:30 am on Thursday showed.

The company has reserved not more than 50% of the net issue for qualified institutional buyers (QIBs), not less than 35% for retail investors and remaining 15% for non-institutional investors (NIIs).

Energy Mission Machineries IPO total offer size comprises of 29.82 lakh equity shares, including a market maker portion of 1.5 lakh shares and anchor allocation of 8.49 lakh shares.

Hem Finlease is the market maker for the public offer. The company raised ₹11.72 crore from the anchor investors on May 8, ahead of the IPO launch.

Hem Securities Limited is serving as the book-running lead manager of the issue.

Energy Mission Machineries IPO: Key things to know

Energy Mission Machineries IPO price band

The price band for the Energy Mission Machineries IPO has been fixed at ₹131-₹138 per equity share.

Energy Mission Machineries IPO lot size and minimum investment

At the upper price band of the IPO, retail investors would need to invest a minimum amount of ₹1,38,000. For high net worth individuals, the company has fixed the minimum lot size for investment at two lots or 2,000 shares, requiring an amount of ₹2,76,000.

To apply for Energy Mission Machineries IPO, CLICK HERE.

Energy Mission Machineries IPO shares allotment and listing

The company is likely to finalise the basis of the allotment of shares on May 14 and subsequently, refunds will be initiated for non-allottees on May 15. Successful bidders will receive shares in their Demat accounts on May 15.

Applicants must note that the allotment status can be checked only after the company finalizes the allotment.

The company will list its shares on NSE SME with a tentative listing date fixed as May 16, 2024.

Energy Mission Machineries promoter shareholding

The company's promoters Satishkumar Kanjibhai Parmar, Sanjay Shantukumar Khankar, Dineshkumar Shankarlal Chaudhary, Ashokkumar Ramjibhai Panchal and Snehal Narendra Mehta hold 100% stake and post IPO, their shareholding will be diluted.

About Energy Mission Machineries Ltd

Established in 2011, Energy Mission Machineries designs and manufactures various metal-forming machines for industrial metal fabrication. The company's precision machines are used across various industries, including automotive, steel, furniture, HVAC, agriculture, construction, elevators and food processing. Its product range includes press brakes, shearing machines, plate rollers, ironworkers, and hydraulic presses, as well as busbar bending, cutting, and punching machines.

The company exports its products to several countries including the USA, Switzerland, Russia, Nepal, Kenya, Uganda, UAE, and Saudi Arabia.

From April 2023 to August 2023, the company supplied over 1,050 customers with more than 1,487 metal forming machines, comprising over 600 variations. This occurred over the last three fiscal years and five months.