by Sandip Das on 26 February 2024, 5 min read
Owais Metal and Mineral Processing opened its initial public offering (IPO) for subscription on February 26, 2024. The company will close the issue on February 28, 2024. The price band set by the company for each share is between Rs 83 to Rs 87, with a face value of Rs 10. Investors can bid for a minimum of 1600 shares and in multiples thereof. The minimum lot size for an application is 1600 shares. Retail investors are required to invest a minimum amount of Rs 1,39,200.
Owais Metal and Mineral Processing Limited, a public limited company incorporated in December 2022, actively manufactures Manganese Oxide (MNO), MC Manganese, and Wood Charcoal. The company also processes minerals, such as quartz and manganese ore. The company has a strategic focus on significant expansion of its product portfolio within India, aiming to establish itself as a prominent conglomerate in the natural resources sector. Its operations are based in Meghnagar, Jhabua, Madhya Pradesh.
The price band set by the company for each share is between Rs 83 to Rs 87.
The Owais Metal and Mineral Processing IPO constitutes a book-built issue with a total value of Rs 42.69 crores. The entirety of the issue comprises a fresh allotment of 49.07 lakh shares.
Particulars | Period Ended Dec 31, 2023 | Financial Year Ended March 31, 2023 |
Total Income (Rs in Lakhs) | 3,977.54 | 0.00 |
Profit after Tax (Rs in Lakhs) | 765.47 | (12.72) |
The company intends to utilize the net fresh issue proceeds to purchase of equipment to facilitate manufacturing, working capital requirements, and general corporate purposes.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
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