SME IPO: SS Infrastructure to launch IPO on March 28
Engineering and architectural consultancy SS Infrastructure Development Consultants is buckling up to launch its initial public offering on the EMERGE platform of National Stock Exchange of India on March 28, 2018.
The public issue of up to 42,78,000 equity shares opens on March 28, 2018 and closes on April 5, 2018. The IPO will have a price band of Rs. 37 to Rs. 40 per equity share for a face value Rs. 10 each.
The stock will have a minimum bid lot of 3,000 equity shares and in multiples of 3,000 equity shares thereafter. The company is planning to utilize the proceeds from the IPO for renovating existing offices and setting up of new branch office, purchasing of software and hardware, repayment of secured and unsecured loans and the funding working capital requirements of the company.
In the fiscal year 2017, the company had posted over 11 per cent hike in its net profit to Rs. 380.27 lacs on a year-on-year basis.
The listing of SMEs on stock exchanges is slowing becoming a rage in India. NSE’s SME platform EMERGE has surpassed the 100-mark of SME listings, while, BSE SME platform has recorded listing of over 250 small and medium enterprises till now. BSE SME platform is the market leader in this segment with a market share of 65 per cent.