Pratham EPC Projects IPO price band set at ₹71 - 75 per share; SME IPO to open on March 11

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₹71 to ₹75 per share. At the upper end of the price band, the company plans to raise ₹36 crore from the offer which is entirely a fresh issue of 48 lakh equity shares. Pratham EPC Projects IPO lot size is 1,600 shares and the minimum investment amount required by retail investors is ₹120,000.

Also Read: Owais Metal and Mineral Processing Limited share price makes a stellar debut, stock opens with 187% premium at ₹250 The company plans to use the fresh issue proceeds for the purchase of machinery, meeting working capital requirements, and for general corporate purposes. Pratham EPC Projects IPO allotment is expected to be finalized on March 14, while the equity shares of Pratham EPC Projects will list on NSE SME with a tentative listing date fixed as March 18, 2024. Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Pratham EPC Projects IPO, while Link Intime India Private Ltd is the IPO registrar.

Pratham EPC Projects Ltd is an end-to-end services provider to oil and gas utilities in India. The company specializes in integrated engineering, procurement, construction, and commissioning. Nayankumar Pansuriya and Pratikkumar Vekariya are the promoters of the company.

After the IPO, the promoter shareholding in the company will come down to 72.97% from 100% at present. Also Read: RK Swamy IPO: Retail portion fully subscribed in less than an hour of opening; check GMP, subscription status, more Looking at the financials, Pratham EPC Projects’ net profit spiked to ₹7.64 crore in the financial year ending March 2023, from ₹4.41 crore in the previous year. The company’s revenue increased to ₹51.67 crore in FY23 from ₹50.62 crore in FY22.