05 Jun , 2021 By : Kanchan Joshi
MUMBAI: The initial public offering (IPO) of Abhishek Integration Ltd will open on 8 June and close on 11 June. The firm plans to issue 9.9 lakh shares at a price of Rs50 apiece, aiming to Rs4.95 crore.
The issue comprises up to 54,000 shares for market participants and remaining 9.36 lakh shares will be referred as net issue.
Beeline Broking is the lead manager to the issue.
The proceeds from the IPO will be used for incremental working capital requirements and general corporate purpose.
As on March 2021, the company's net working capital requirement on restated basis was Rs2.71 crore, with FY22's requirement estimated at Rs7.52 crore.
For fiscal 2021, the company reported a revenue of Rs2.76 crore compared with Rs85.86 lakh a year ago, while net income was at Rs11.89 lakh, up from Rs3 lakh in the previous year.
The firm has total debt of Rs13.81 lakh.
Abhishek Integration is engaged in developing, operating, maintaining electrical and mechanical works and installations at airport terminals. It instals and maintains fire fighting solutions as a system integrator, and undertakes operation and maintenance of airfield lighting system, including perimeter light fittings at airports.
The company has around 24 projects in hand from the Airports Authority of India.
0 Comment