IPO of Supreme Power Equipment Limited will open on 21 December 2023

Mumbai: Supreme Power Equipment Limited (SPEL), a reputed player in the power and distribution transformer manufacturing industry, has announced its plans to go public with an initial public offering on December 21, 2023. The company aims to raise Rs 46.67 crore. Upper band price through this IPO, with the shares being listed on the NSE Emerge platform.

The issue size is up to 71,80,000 equity shares at face value of Rs 10 each.
equity share allotment

• QIB Anchor Portion – Up to 18,70,000 equity shares
• Qualified Institutional Buyers (QIBs) – Up to 12,50,000 equity shares
• Non-Institutional Investors (NII) – Up to 9,40,000 equity shares
• Retail Individual Investors (RIIs) – up to 21,88,000 equity shares
• Market Maker – 9,32,000 equity shares
  The net proceeds from the IPO will be used for capital expenditure requirements, working capital requirements and general corporate expenses. Bidding for the anchor portion will open on December 20, 2023 and the issue will close on November 26, 2023.

The book running lead manager to the issue is Narnolia Financial Services Limited. The registrar of the issue is Purva Share Registry Private Limited.

V Rajmohan, Chairman and Managing Director, Supreme Power Equipment Limited, said, “This IPO is an important milestone for us, and we are excited about the opportunities and growth that lies ahead. With over 29 years in the industry, we have proudly established ourselves as one of the leading manufacturers of power and distribution transformers in Tamil Nadu. This upcoming step is a testament to our unwavering commitment to innovation and reliability.

The net proceeds will be directed towards meeting our working capital requirements, financing capital expenditure and managing general corporate expenses. We look forward to continued success in the transformer industry.”

Vipin Agarwal, Director, Narnolia Financial Services Limited, said, “We are delighted to be a part of this milestone journey with Supreme Power Equipment Limited. As a reputed player in the power and distribution transformer manufacturing industry, Supreme Power Equipment Limited exhibits flexibility and unmatched expertise. ,

Their commitment to quality and innovation establishes them as a leader in the field. “We look forward to contributing to their success and supporting the growth of their business as we move forward on this collaborative journey.”