Patil Automation, Samay Project Services IPOs open for subscription; check key details

Upcoming IPOs: Two NSE SME initial public offerings of welding and line automation solutions provider Patil Automation and EPC firm Samay Project Services opened for subscription on Monday, July 16.

The issues will conclude on June 18, and their allotments will be finalised on June 19.

Patil Automation IPO

The capital raised will be utilised for funding of capital expenditure towards establishing a new manufacturing facility, repayment of a portion of certain borrowings and general corporate purposes.

The application size is 1,200 shares, requiring an investment of ₹1,44,000.

Seren Capital Private Limited is the issue's book-running lead manager, while Purva Sharegistry India is the registrar.

Patil Automation specialises in welding and line automation solutions and has five operational facilities across India. It provides comprehensive automation services like welding lines, assembly lines, gantries, auto handling, production, and testing special-purpose machines.

Its product portion consists of robotic welding systems, spot welding systems, resistance welding systems, arc welding solutions, automated car body assembly lines, electrical and electronics assembly lines, engine and transmission assembly systems, robotic gantries & pick-and-place systems, conveyor systems, automated guided vehicles (AGVs), leak testing machines, vision inspection systems, and end-of-line testing systems.

Samay Project Services IPO

Samay Project Services' ₹14.69 crore initial public offering, with a price range of ₹32 to ₹34 per share, is solely a fresh issuance of 43.20 lakh shares.

The funds raised will be used for working capital needs and corporate general purposes.

A lot consists of 4,000 shares worth ₹1,36,000 (cutoff price).

The book running lead manager is Smart Horizon Capital Advisors Pvt Ltd, while the registrar is Bigshare Services.

Samay Project Services provides engineering, procurement, and construction services. The company specialises in design, engineering, and the commissioning of balance of plant systems.