Owais Metal and Mineral Processing IPO: Check date, price band, and other key details
₹83 to ₹87 per share, with a face value of ₹10. Investors can bid for a minimum of 1600 shares and in multiples thereof. The minimum lot size for an application is 1600 shares.
The minimum amount of investment required by retail investors is ₹139,200. Also read: Bharat Highways Invit IPO: Check date, size and key other details Owais Metal and Mineral Processing IPO is a book built issue of ₹42.69 crores. The issue is entirely a fresh issue of 49.07 lakh shares.
Not more than 50 percent of the net offer is reserved for QIB, not less than 35 percent of the offer is reserved for retail investors and not less than 15 percent of the offer is reserved for NII. Owais Metal and Mineral Processing Limited was established in 2022 and is engaged in the production and processing of metals and minerals. The company's manufacturing facility is located in Meghnagar, Madhya Pradesh.
As of December 31, 2023, the company had 25 permanent employees. Also read: Exicom Tele-Systems announces IPO dates to raise ₹329 crore via fresh issue The company intends to utilize the net fresh issue proceeds to purchase of equipment to facilitate manufacturing, working capital requirements and general corporate purposes. Saiyyed Owais Ali, Sayyad Akhtar Ali, and Saiyyed Murtuza Ali are the company promoters.
The allotment for the Owais Metal and Mineral Processing IPO is expected to be finalized on Thursday, February 29, 2024. The small and medium (SME) IPO will list on NSE SME with tentative listing date fixed as Monday, March 4, 2024. Gretex Corporate Services Limited is the book running lead manager of the Owais Metal and Mineral Processing IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
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