Faalcon Concepts IPO price band fixed at ₹62 per share; SME IPO to open on April 19

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₹12 crore from primary markets. Faalcon Concepts deals with the planning, design, fabrication, and installation of façade systems. The bidding for Faalcon Concepts IPO will open on April 19 and close on April 23.

The IPO allotment is expected to be finalized on April 24. Faalcon Concepts IPO price band has been set at ₹62 per share. The company plans to raise ₹12.09 crore from the public offer which is entirely a fresh issue of 19.5 lakh equity shares.

Also Read: Ramdevbaba Solvent IPO: Issue oversubscribed on day 1 amid strong NII, retail demand; Know GMP, subscription status The IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is ₹124,000. Faalcon Concepts IPO is an SME IPO and the equity shares will be listed on BSE SME with a tentative listing date fixed as April 26. The company plans to utilize the net proceeds from the issue to finance the capital expenditure for the purchase of facade structural equipment, part finance the requirement of working capital and to meet general corporate purposes.

Also Read: DCG Cables and Wires share price makes a weak debut, stock opens with 10% discount at ₹90 apiece on NSE SME Navigant Corporate Advisors Ltd is the book-running lead manager of the Faalcon Concepts IPO, while Beetal Financial & Computer Services (P) Limited is the IPO registrar. Ekta Seth, Tribhuvan Seth, and Prithvi Seth are the promoters of Faalcon Concepts Ltd. The promoter shareholding in the company after the IPO is likely to drop to 65.56% from 91.76% at present.

Faalcon Concepts reported a net profit of ₹1.79 crore in FY23, growing sharply from Rs 97.79 lakh in FY22. For the period ending October 2023, the company’s net profit stood at ₹1.31 crore. The company’s