When does the Narmadesh Brass Industries IPO open and close?

The IPO opens for subscription on January 12 and closes on January 15.

What is the price band for the Narmadesh Brass Industries IPO?

The IPO price has been fixed at Rs 515 per share.

How will Narmadesh Brass Industries use the IPO funds?

The funds will be utilized for debt repayment, purchasing machinery, and meeting working capital needs.

Home / Business and Economy / Brass Maker IPO: Rs 44.8 Cr Opens Jan 12

Brass Maker IPO: Rs 44.8 Cr Opens Jan 12

11 Jan

•

Summary

Company IPO opens for subscription on January 12.
Public issue price fixed at Rs 515 per share.
Proceeds will fund debt repayment and machinery.

Brass Maker IPO: Rs 44.8 Cr Opens Jan 12

Narmadesh Brass Industries, a Gujarat-based manufacturer, will launch its Rs 44.8-crore initial public offering (IPO) on January 12, with public subscription concluding on January 15. The company has established a price of Rs 515 per share for this offering, which is set to list on the BSE SME platform around January 20.

The public issue comprises a fresh issue of 7 lakh equity shares and an offer for sale of over 1.7 lakh shares. The generated funds are earmarked for crucial business development initiatives, including the repayment of existing debt and the acquisition of advanced machinery and equipment to improve production capabilities.

In addition to capital expenditure, the proceeds will support working capital requirements and general corporate purposes, as stated by MD Hitesh Dudhagara. Financially, the company reported a revenue of Rs 87.72 crore and a profit after tax of Rs 5.66 crore, positioning itself for sustainable growth and enhanced customer value.