Arrowhead Seperation IPO Opens November 16, Price Band Set At ₹233 Per Share

Arrowhead Seperation Engineering Limited is set to launch its initial public offering (IPO) for subscription on Thursday, November 16, with the subscription period closing on Monday, November 20. The IPO is priced at ₹233 per share, and investors can bid for a minimum of 600 shares and in multiples thereof. The face value of the equity shares is ₹10 each, and the issue price represents 23.3 times the face value.

Arrowhead Seperation Engineering Limited engages in the production, distribution, and import of various dryers, including Totally Enclosed Single Drum Dryers, Continuous Particulate Dryers, Rotary Dryers, Single Drum Dryers, Double Drum Dryers, Paddle Dryers, and Flaker Systems. The company’s primary objective is to meet customer expectations by delivering high-quality products.

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The promoters of the company are Ajit and Jyoti Mundle.

According to the Red Herring Prospectus (RHP), Arrowhead Seperation IPO’s listed peers include Kilburn Engineering Ltd (P/E of 26.38) and Praj Industries Ltd (P/E of 17.92).

Key IPO Details:

• The IPO is valued at ₹13 crore and comprises a fresh issue of 558,000 equity shares with no offer for sale (OFS) component.
• The net proceeds from the offering will be utilized for meeting working capital needs, repaying NBFC loans, and advancing general corporate purposes.

IPO Management:

• Registrar: Cameo Corporate Services Limited
• Book Running Lead Manager: Aryaman Financial Services Limited
• Market Maker: Aryaman Capital Markets

Grey Market Premium: As of today, the Arrowhead Seperation IPO’s Grey Market Premium (GMP) stands at ₹0, indicating that shares are trading at the issue price of ₹233 with no premium or discount in the grey market. The GMP reflects investors’ readiness to pay more than the issue price.

Investors are eagerly anticipating the subscription opening on November 16, eyeing Arrowhead Seperation Engineering Limited’s IPO priced at ₹233 per share.