On Thursday, February 13th, Readymix Construction Machinery’s shares debuted flat, closing at ₹123 on the NSE SME, the same price as its initial public offering.
Readymix Construction Machinery IPO listing:
On Thursday, February 13th, Readymix Construction Machinery’s shares debuted flat, closing at ₹123 on the NSE SME, the same price as its initial public offering.
The ₹37.66 crore IPO of Readymix Construction Machinery was available for subscription between February 6 and February 10. The pricing per equity share for the SME IPO was set at ₹123.
With 4.61 times the bids, Readymix Construction Machinery’s initial public offering (IPO) was completed with respectable demand after three days of bidding. Of the 20.37 lakh shares available, 93.87 lakh were bid on during the IPO. While the non-institutional investor (NII) category was subscribed to 4.76 times, the retail investor sector was booked 4.26 times. In addition, throughout the three days of bidding, the Qualified Institutional providers quota was bid on 5.1 times.
About the IPO:
With no offer-for-sale component, Readymix Construction Machinery’s IPO was a new offering of 30.62 lakh shares. With a minimum size of 1,000 shares and a minimum investment of ₹1.23 lakh, retail investors were eligible to apply.
The business intends to use the issue’s proceeds for several goals, such as general corporate purposes, working capital needs, and the repayment or partial payback of outstanding borrowings.
The Readymix Construction IPO’s book-running lead manager is Hem Securities Limited, while the issue’s registrar is Bigshare Services Pvt Ltd. Hem Finlease Private Limited is the market maker for the Readymix Construction initial public offering.
Readymix Construction Machinery Limited is a multifaceted producer and supplier in the construction equipment sector. It was established in 2012. The business specializes in engineering solutions for designing, developing, fabricating, and installing plant machinery and equipment. Its products include silos, dry mix mortar plants, concrete plant support systems, and specially designed projects based on customer specifications.
Readymix Construction Machinery manages every phase, from design and development to fabrication, testing, and installation, offering complete turnkey solutions. The business also provides after-sales services, such as maintenance and repair, to guarantee the smooth running of its machinery and equipment.
