The offer received bids for 29.60 lakh shares as against 19.50 lakh shares on offer.
The initial public offer (IPO) of Faalcon Concepts received bids for 29,60,000 shares as against 19,50,000 shares on offer, as per BSE data as of 17:00 hours on Friday, (19 April 2024). The issue was subscribed 1.51 times.The issue opened for bidding on Friday, (19 April 2024) and it will close on Tuesday, (23 April 2024). The price of the IPO is fixed at Rs 62 per share. The minimum order quantity is 2,000 equity shares. The equity shares will list on BSEs SME platform.
The IPO comprises fresh issue of 19,50,000 equity shares. The promoter and promoter group shareholding will dilute to 65.56% from 91.76% Pre-IPO.
About 98,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 18,52,000 equity shares. The issue and the net issue will constitute 28.55% and 27.12% respectively of the post offer paid up equity share capital of the company.
The company intends to utilize the net proceeds to finance the capital expenditure for purchase of facade structural equipments, to part finance the requirement of working capital and to meet general corporate purposes.
Faalcon Concepts specializes in designing, engineering, fabricating, and installing complex facade systems. The company focuses on technically demanding facades and offers a wide range of products, including curtain walls, high-end aluminum doors and windows, skylights, canopies, frameless glazing, MS structures, stone cladding, metal cladding, roofing, and more. The company has 26 employees.
The company recorded revenue from operations of Rs 12.46 crore and net profit of Rs 1.31 crore for the period as on 31 October 2023.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
