Energy Mission Machineries (India) Ltd has announced its intention to raise up to Rs. 41.15 crore through an initial public offering (IPO). The Ahmedabad-based firm, renowned for its expertise in designing and manufacturing sheet metal machinery, is poised to embark on a transformative journey with this strategic move.
Scheduled to kick off on May 9 and conclude on May 13, the IPO will see the issuance of 29.82 lakh equity shares, priced in the range of Rs. 131 to Rs. 138 per share. This infusion of funds is earmarked for critical initiatives such as civil construction work, the establishment of new plant facilities, and meeting working capital requirements at its existing manufacturing unit in Sanand, Gujarat.With Hem Securities Limited at the helm as the book running lead manager, Energy Mission Machineries aims to leverage the NSE Emerge Platform of the National Stock Exchange for listing.
Renowned for its CNC, NC, and conventional metal forming machines catering to a diverse array of industries, including automotive and construction, Energy Mission Machineries has demonstrated robust financial performance, reporting a consolidated total income of Rs. 83.99 crore and a net profit of Rs. 6.74 crore for the nine months ending December 2023.
