Shri Ram Switchgears SME IPO opens for subscription

The engineering and manufacturing SME Shri Ram Switchgears opened its IPO subscription from Thursday, May 25, 2017 to May 30, 2017, Tuesday. The issue size of the SME IPO is of 2,670,000 equity shares of Rs 10 face value each, amounting to Rs 5.07 crore.
 
The company has set its issue price at Rs 19 per equity share. While the minimum order quantity of the issue is one market lot consisting 6000 shares. The IPO is to be listed on the SME section of National Stock Exchange (NSE), as announced by the company.
 
The company will utilise the raised capital to meet its working capital requirements including the margin money and other expenses incurred by the company.
 
Shri Ram Switchgears manufactures electrical products including transformers (EHV, Power, Distribution, and Special Application) up to 5 mVA - 132 kV Class and oil type compact sub-stations. The company has a strong presence with efficient distribution networks in the states of Maharashtra, Rajasthan, Gujarat, Madhya Pradesh, Delhi, Odisha and Uttar Pradesh.