Pratham EPC Projects, an integrated engineering, procurement, construction, and commissioning services provider, is all set to launch its initial public offering (IPO) on March 11. The IPO is categorized as an SME IPO, and the bidding process will run from March 11 to March 13.
The company has disclosed the price band for the public offering, setting it at ₹71 to ₹75 per share. In the upper range of the price band, Pratham EPC Projects aims to raise ₹36 crore through the IPO, consisting entirely of a fresh issue of 48 lakh equity shares.
For retail investors, the IPO lot size is 1,600 shares, requiring a minimum investment of ₹120,000. The funds raised from the fresh issue will be utilized for machinery procurement, meeting working capital requirements, and general corporate purposes.
The allotment of Pratham EPC Projects IPO is anticipated to be finalized on March 14, with the equity shares expected to list on NSE SME on March 18, 2024.
Beeline Capital Advisors Pvt Ltd acts as the book-running lead manager for the Pratham EPC Projects IPO, and Link Intime India Private Ltd is the IPO registrar.
About Pratham EPC Projects:
Pratham EPC Projects Ltd is a comprehensive service provider catering to oil and gas utilities in India. The company specializes in integrated engineering, procurement, construction, and commissioning. The promoters of the company are Nayankumar Pansuriya and Pratikkumar Vekariya.
In terms of financial performance, Pratham EPC Projects witnessed a surge in net profit from ₹4.41 crore in the fiscal year ending March 2022 to ₹7.64 crore in the following year. The company’s revenue also saw an increase, reaching ₹51.67 crore in FY23 from ₹50.62 crore in FY22.
Pratham EPC Projects IPO Grey Market Premium (GMP) Today:
As per market observers, the grey market premium (GMP) for Pratham EPC Projects IPO today stands at ₹35 per share. This suggests that the company’s shares are trading at a premium of 46.67%, valued at ₹110 per share in the grey market, compared to the IPO price of ₹75 per share.
