Patron Exim IPO will open for subscription on February 21. The subscription window will close on February 24. The SME IPO's price band has been fixed at Rs 27 with a market lot of 4,000 shares. The Ahmedabad headquartered company seeks to raise Rs 16.69 crores via the public issue.
The proceeds from the public issue will be used for operating capital, general company objectives and public issue costs. The ace value of each share has been fixed at Rs 10.
The IPO allotment will be finalised on March 2. Shares of the company will be credited to the Demat account on March 3 while the listing will take place on March 6 on BSE SME.
A retail investor can apply for a maximum of 1 lot of 4,000 shares worth Rs 108,000. For the high net-worth individual category, the minimum lot size is two.
The investors’ portion for NII and retail is 50 per cent each.
Bigshare Services is the registrar for the IPO.
Nikhil Bhatt, a SEBI registered research analyst, said that the IPO is worth applying for long-term gains, considering the sustainability and demand in the pharmaceutical sector. He added that the new commissioned-based business model of the company has been effectively generating larger profit margins.
Established in 1982, Patron Exim operates primarily in the pharmaceutical, chemical industries and adjacent industries. The company manufactures and distributes surgical and non-surgical products, active pharmaceutical ingredients, drug intermediates and other products. Its clients' list includes Johnson & Johnson, Dr Reddy's, Cipla, Sun Pharma, and Torrent Pharma among others.
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