PNN
Mumbai (Maharashtra) [India], June 17: Falcon Technoprojects India Limited, has announced its plan to go public with an Initial Public Offering (IPO) on June 19, 2024. The company is aiming to raise Rs 13.69 Crore at the price of Rs 92 per share through this IPO, with shares set to be listed on the NSE Emerge platform.
The issue size is Up to 14,88,000 equity shares at face value of Rs 10 each.
Equity Share Allocation
* Non-Institutional Investors (NII) - Up To 7,06,800 Equity Shares
* Retail Individual Investors (RII) - Up To 7,06,800 Equity Shares
* Market Maker - Up To 74,400 Equity Shares
The net proceeds from the IPO will be utilized for Working Capital Requirements and General Corporate Purposes. The Issue closes on 21st June 2024.
The Lead Manager to the Issue is Kunvarji Finstock Private Limited. The Registrar to the Issue is KFIN Technologies Limited.
Bharat Shreekishan Parihar, Managing Director of Falcon Technoprojects India Limited, stated, "Launching our IPO marks a significant leap forward for Falcon. Specializing in Mechanical, Electrical, and Plumbing (MEP) services across sectors like petroleum refineries, residential townships, atomic energy, and civil construction, we are positioned for robust growth. The net proceeds from the IPO will be allocated to Working Capital Requirements and General Corporate Purposes, supporting our expansion and enhancing our ability to provide exceptional MEP services throughout India. Our expert team is dedicated to maintaining high standards in design, installation, and maintenance, ensuring reliable and efficient solutions tailored to each industry's needs."
Jiten Patel, AVP of Kunvarji Finstock Private Limited said, "Falcon Technoprojects specializes in MEP (Mechanical, Electrical, Firefighting & Plumbing) services, complemented by Fire Alarm, Networking, Security & Surveillance Systems. Their commitment to delivering top-tier design, installation, and maintenance ensures they provide tailored solutions across various sectors. We extend our best wishes to Falcon Technoprojects India Limited on their IPO launch. This strategic move is poised to bolster their capabilities, enabling them to meet growing mark.
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