The initial public offering of Falcon Technoprojects India Ltd is set to hit the D-Street on Wednesday, June 19. The issue’s price band is fixed at ₹92 apiece with a face value of ₹10 each. The issue price is 9.2 times of the face value. The minimum lot size of the issue that concludes on Friday, June 21 is 1,200 equity shares.
According to the Prospectus, the firm is in the business of delivering Mechanical, Electrical, and Plumbing (MEP) services to our PAN India clients who operate in a variety of industries such as petroleum refineries, residential Townships, atomic energy, civil construction, and so on.
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The company’s prominent clients include Mumbai International Airport, L&T, BPCL, HPCL, Lodha Developers, Reliance Industries, and Shapoorji Pallonji Group.
The company’s portfolio comprises over 145 projects completed for more than 50 clients in 17 Indian states. The organisation has an established track record of offering high-quality services that fulfill its clients’ diversified demands. The business has executed contracts worth more than ₹4,000 lakhs in the previous three fiscal years.
Bharat Shreekishan Parihar and Sheetal Bharat Parihar are the company’s promoters.
Furthermore, about the firm’s listed peers, the company stated that in order to identify comparable listed peer businesses / groups, they analysed the business models of listed companies involved in activities similar to the company. However, they have concluded that they are not comparable to the company’s business model for the following reasons: the proportion of revenue generated by similar activities to total revenue differs from the company’s; and they have diversified operations in different sectors than the company. As a result, they cannot give an industry comparison for their company.
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Falcon Technoprojects IPO details
Falcon Technoprojects IPO, worth ₹13.69 crore, consists of a fresh issuance of 14,88,000 equity shares at face value of ₹10. There is no offer-for-sale component.
The company intends to use the funds it has obtained through this offering for working capital requirements (78.53% of the net proceeds) and other corporate purposes (20.50% of the net proceeds).
Tentatively, the Falcon Technoprojects IPO basis of allocation of shares will be out on Monday, June 24, and the firm will commence refunds on Tuesday, June 25, with the shares being credited to allottees’ demat accounts on the same day. Falcon Technoprojects IPO shares are expected to be listed on NSE SME on Wednesday, June 26.
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Kunvarji Finstock Pvt Ltd is the book-running lead manager for the Falcon Technoprojects India IPO, and Kfin Technologies Limited is the registrar. Nikunj Stock Brokers is the market maker for Falcon Technoprojects India’s IPO.
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