Faalcon Concepts IPO subscribed over 71 times on last day led by strong demand from NIIs

Faalcon Concepts IPO subscription closed with a strong demand from investors as the initial public offer was booked over 71 times on the third and final day of subscription on Tuesday, April 23.

The BSE SME IPO received bids for 13.21 crore shares against 18.52 lakh shares on offer, entailing a subscription of 71.33 times.

While the retail category saw a subscription rate of 47.17 times, the Non-Institutional Investors (NII) category was subscribed 93.37 times.

The retail investors submitted bids for over 4.36 crore shares against 9.26 lakh shares on offer while the NII investors applied for 8.64 crore shares against 9.26 lakh shares allocated for the category. In the qualified institutional buyers category (QIBs) the SME public issue received bids for 19.7 lakh shares.

Faalcon Concepts IPO allotment and listing

Faalcon Concepts IPO share allotment is expected to be finalised on Wednesday, April 24. Following the share allocation, refunds will be initiated on April 25, with the credit of shares to the Demat accounts will also be completed the same day.

Faalcom Concepts IPO share listing is tentatively scheduled on April 26. The shares will be listed on BSE SME platform.

Faalcon Concepts IPO price band and other details

Faalcon Concepts IPO price was fixed at ₹62 per share. The minimum investment was ₹1,24,000 for a single lot size comprising 2,000 shares. High Net Worth Individuals (HNI) were allowed to apply for a minimum of two lots, or 4,000 shares, amounting to an investment of ₹2,48,000.

Navigant Corporate Advisors Ltd has been appointed as the book running lead manager for the Faalcon Concepts IPO, while Beetal Financial & Computer Services (P) Limited assumes the role of the registrar. Alacrity Securities has been designated as the market maker for the IPO.

Faalcon Concepts IPO objective

The company aims to use the net proceeds from the IPO to fund various objectives. These include financing capital expenditure for buying facade structural equipment. The company intends to use a portion of the funds to partially finance the working capital requirements. The remaining proceeds will be used to address general corporate expenses.

About Faalcon Concepts Ltd

Faalcon Concepts Limited was incorporated in 2018. The company specialises in design, planning, manufacturing and installation of facade systems. Facades designed to resist UV radiation, acid rain, dust, noise and other environmental elements are among its products. Glass or curtain walls, aluminium windows and doors, roofs, canopies, skylights, frameless glazing, MS constructions, stone and metal cladding and roofing are among the products offered by the company.

Faalcon Concepts Limited serves customers across Haryana, Uttar Pradesh, Rajasthan, Madhya Pradesh, Karnataka, Gujarat, Punjab, and Delhi.

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