Falcon Technoprojects India IPO opens on June 19: Check price band, offer size, subscription and other details

The initial public offer of Falcon Technoprojects India Limited opens for subscription on Wednesday, June 19. It’s a fixed-price public offer worth ₹13.69 crore consisting entirely of a fresh issue of 14.88 lakh shares.

The Falcon Technoprojects India shares will be listed on the NSE SME platform, Emerge.

Falcon Technoprojects India IPO dates

The subscription window for the Falcon Technoprojects India IPO will remain open from June 19 to June 21.

Following the end of the bidding period, the basis of allotment for the Falcon Technoprojects India IPO is expected to be finalised on June 24. The company is likely to initiate refunds to unsuccessful bidders and credit of shares to the Demat accounts of successful applicants on June 25.

Falcon Technoprojects India IPO listing date has been tentatively scheduled as June 26.

Falcon Technoprojects India offer size

In the Falcon Technoprojects India IPO, out of the total 14.88 lakh shares offered, 74,400 shares have been reserved for the market maker. The remaining shares will be split equally, with 50% offered to retail investors and the other 50% to other categories of investors.

Falcon Technoprojects India IPO price and other details

The price for the Falcon Technoprojects India IPO has been set at ₹92 per share of a face value of ₹10 each. Investors participating in the IPO have the option to bid for a minimum of 1,200 shares and in multiples thereof. For retail investors, the minimum investment is ₹1,10,400.

High net-worth individuals (HNIs) are required to bid for a minimum of 2 lots comprising 2,400 shares, amounting to an investment of ₹2,20,800.

Kunvarji Finstock Pvt Ltd has been appointed the book running lead manager for the Falcon Technoprojects India IPO, while Kfin Technologies Limited has been designated as the registrar of the issue. Nikunj Stock Brokers is the market maker for the Falcon Technoprojects India IPO.

The company’s promoters are Bharat Shreekishan Parihar and Sheetal Bharat Parihar. The promoters collectively hold 84.20% stake in the company before the IPO.

Falcon Technoprojects India key financials

The company’s revenue from operations for the period ended January 31, 2024, stood at ₹10.33 crore. The Mechanical, Electrical and Plumbing (MEP) services provider’s Profit after Tax (PAT) stood at ₹86.98 lakh in the same period. The net worth of the company stood at ₹8.98 crore for the period ended January 31, 2024.

The company’s revenue from operations in FY23 fell nearly 28% to ₹16.53 crore compared to ₹22.86 crore in FY22. The MEP firm’s PAT for FY23 grew marginally by nearly 1% to ₹1.03 crore from ₹1.02 crore in the preceding fiscal. The company’s net worth for the fiscal year ended March 31, 2023, stood 45% higher at ₹3.34 crore compared to ₹2.3 crore in FY22.

Falcon Technoprojects India IPO objectives

According to the company, it intends to use a part of the net proceeds to meet its working capital requirements during FY 2024-25. Currently, the company manages its working capital needs through internal accruals, equity and financial facilities obtained from banks and financial institutions. With the additional working capital, it intends to support its future growth plans and other business objectives. In addition, a portion of the funds will also be allocated towards general corporate purposes.

About Falcon Technoprojects India Limited

Falcon Technoprojects India Limited was founded in 2014. The company is engaged in providing mechanical, electrical and plumbing (MEP) services across various sectors in India, such as petroleum refineries, housing estates, nuclear power and construction. The company’s core offerings include the design, selection and installation of integrated MEP systems.

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