Business

This company will be listed on BSE SME platform, IPO is coming on 28 September

Photo:FILE IPO

Highlights

  • Will issue 27.12 lakh shares of face value of Rs 10 under IPO
  • The price band for the IPO has been kept at Rs 78 per share.
  • 8.5 crore will be used for loan repayment

IPO Watch: The Rs 21 crore initial public offering (IPO) of Silicon Rental Solutions Limited, a company providing information technology products like laptops, desktops on rent, will open on September 28. The company said on Monday that the IPO will open on September 28 and close on September 30. The shares put up for sale will be listed on the SME platform of BSE.

The company will issue 27.12 lakh shares

Silicon Rentals will issue 27.12 lakh shares of face value of Rs 10 under the IPO. The price band for the IPO has been kept at Rs 78 per share. The company’s Chairman and Managing Director Sanjay Harish Motiani said that out of the proceeds of the IPO, Rs 8.55 crore will be used to meet the capital expenditure requirements. At the same time, Rs 8.5 crore will be used for loan repayment and the remaining amount will be used for general corporate purposes.

wapcos wapcos applied for ipo

Public sector company WAPCOS Limited has applied to capital markets regulator SEBI for an initial public offering (IPO). As per the draft Red Herring Prospectus (DRHP), the promoter of the company will make an offer for sale (OFS) of 32,500,000 equity shares by the Government of India under a public issue. The IPO will be purely in the form of OFS and does not involve any fresh issue. WAPCOS provides consultancy and engineering services in areas such as water, power and infrastructure. This company comes under the Ministry of Jal Shakti. The company also provides its services abroad. Notably in South Asia and throughout Africa, WAPCOS has served in the fields of dam and reservoir engineering, irrigation and flood control. According to DRHP, it has ongoing projects in 30 countries and the company is involved in more than 455 overseas projects, which have been completed and are ongoing. The company said its operating income grew by 11.35 per cent to Rs 2,798 crore in the financial year 2021-22, while profit after tax grew by 14.47 per cent to Rs 69.16 crore in the same period. Auto component company Divgi TorqueTransfer Systems Ltd has submitted preliminary documents with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). As per the draft documents, up to Rs 200 crore of fresh shares will be issued in the IPO.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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