Pratham EPC Projects Limited IPO, a book-built issue of ₹36 crore, was booked over 13% on Day 1 of subscription today. The public offer will be available for subscription till March 13, 2024.
On Day 1, the SME IPO – a fresh issue of 48 lakh shares – was subscribed 13.14 times of the shares on offer for bidding. Retail investors bid 22 times for their allotted portion, while non-institutional buyers bought 10.50 times of their quota.
Qualified Institutional Buyers’ (QIBs) portion in the IPO is set at 19%, with Non-Institutional Investors (NIIs) being offered 14.27%, and the retail segment having a quota of 33.27%. Market makers have been allocated 5% in the public issue.
On March 7, during the anchor round, the company raised ₹10.25 crore in anticipation of the IPO launch. Anchor investors were allocated 1,366,400 shares, constituting 28.47% of the total shares offered.
Nayankumar Manubhai Pansuriya and Pratikkumar Maganlal Vekariya are the promoters of the company.
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All you need to know about the IPO of Pratham EPC Projects Limited
Pratham EPC Projects IPO Price Band and Lot Size
The price band for the public issue has been set between ₹71 to ₹75 per share. The minimum lot size for bidding is 1,600 shares, requiring retail investors to commit ₹1,20,000. High-net-worth individuals have the option to bid for a minimum of 2 lots, totaling 3,200 shares, with an amount of ₹2,40,000.
Pratham EPC Projects IPO Allotment and Listing
The allotment for the Pratham EPC Projects IPO is anticipated to be finalized on Thursday, March 14, 2024. The allotment status will be accessible online on the official website of the IPO’s registrar, Link Intime India Private Limited. The shares are slated to be listed on NSE SME, with a tentative listing date set for Monday, March 18, 2024.
Refunds for non-allottees will be initiated on March 15, and the company will credit shares to the demat accounts of successful bidders on the same day.
Pratham EPC Projects IPO Book-Running Lead Manager
Beeline Capital Advisors Pvt Ltd serves as the lead manager for the Pratham EPC Projects IPO, while Link Intime India Private Ltd acts as the registrar of the issue.
Pratham EPC Projects IPO objectives
The net proceeds from the public offer will be utilized for purchasing machinery, meeting working capital requirements, and addressing general corporate purposes.
Pratham EPC Projects IPO company details
The company, an integrated services provider, offers services in oil and gas utilities with specializations in functions such as integrated engineering, procurement, construction, and commissioning. It is actively involved in gas pipeline projects, undertaking activities such as welding, testing, and commissioning. The firm primarily focuses on tendering and project management.
Certified under ISO standards, including ISO 10002:2018 for customer satisfaction, ISO 14001:2015 for environmental management, ISO 18001:2007 for occupational health and safety, and ISO 9001:2015 for quality management, the company has successfully completed over 12 projects. Its largest projects collectively amount to approximately ₹13,184.10 lakhs.
As of February 2024, the company is engaged in 8 major ongoing projects, with 7 projects valued at around ₹296.66 crores. Pratham EPC Projects’ total income increased from ₹30.85 crores in FY21 to ₹50.62 crores in FY22 and ₹51.67 crores in FY23. Its profit also rose to ₹7.64 crores in FY23 from ₹4.41 crores in FY22 and ₹1.12 crores in the previous fiscal year, FY21.
