Presstonic Engineering IPO: Check Out Price Band & Other Details

Presstonic Engineering IPO opened for subscription on December 11, 2023 and close on December 13, 2023. 

Price Band & Face Value

The IPO has a price band set at Rs 72 per share, and the lot size for this offering is 1,600 shares.

Investors can bid for a minimum of 1,600 shares and in multiples thereof. The face value of the equity shares is Rs 10 each. The issue price is 7.2 times the face value of the equity shares. 

Presstonic Engineering IPO, which is worth Rs 23.30 crore, is completely a fresh issue of 3,236,800 equity shares. There is no offer for sale (OFS) component, according to RHP.

Objectives of the IPO

The issue’s objectives are to finance capital expenditures for the purchase of more equipment and machinery, to fully repay certain loans taken out by the company, to satisfy working capital requirements, to cover issue costs, and to further general corporate purposes.

Finshore Management Services Limited is the book running lead manager for the Presstonic Engineering IPO, and Cameo Corporate Services Limited serves as the issue’s registrar.

Nikunj Stock Brokers is the market maker for the Presstonic Engineering IPO.

The company will finalize the basis of allotment for Presstonic IPO shares on December 14. It will initiate refunds on December 15.

Company Details

Presstonic Engineering Ltd makes infrastructure products, metro rail rolling stock products, and metro rail signalling products.

Company’s Earnings

Presstonic Engineering Limited saw an increase in revenue of 66.11 pecent and profit after tax (PAT) of 1721.76 percent, between the financial year ending on March 31, 2023, and March 31, 2022, as per media reports.

_{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.}