The SME IPO of Owais Metal and Mineral Processing aims to raise Rs 43 crore through the issuance of 49.07 lakh shares. The company engages in the manufacturing and processing of minerals including Manganese Oxide, MC Ferro Manganese, Wood Charcoal, Ferro Alloy, Quartz, and Manganese Ore.
The SME IPO of Owais Metal and Mineral Processing has opened for subscription today. The issue will close on February 28. The company aims to raise Rs 43 crore through the IPO and list the shares on the NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue. 1) About Owais Metal and Mineral Processing The company is engaged in the manufacturing and processing of Manganese Oxide, MC Ferro Manganese, Wood Charcoal as well as minerals such as Ferro Alloy, Quartz and Manganese Ore. 2) Industry overview The production level of important minerals in February 2023 were - Coal: 86.1 million tonnes, Lignite: 4.1 million tonnes, Iron Ore: 24.5 million tonnes, Manganese Ore: 2.7 lakh tonnes etc.,. In FY22, mineral production was estimated at Rs 1.9 lakh crore. 3) Owais Metal and Mineral Processing IPO issue size The IPO is entirely a fresh equity issue of 49.07 lakh shares and through the issue, the company aims to raise Rs 43 crore. 4) Owais Metal and Mineral Processing IPO price band The company is offering its shares at Rs 83-87 apiece, and investors can bid for 1,600 shares in 1 lot. 5) Owais Metal and Mineral Processing IPO financial performance For the period ended December 2023, the company clocked revenues of Rs 39.77 crore and net profit of Rs 7.65 crore. 6) Objects of the offer The net proceeds from the public offer will be used for purchase of plant and machinery for manufacturing, working capital requirements and general corporate purposes. 7) Lead managers and Registrar Gretex Corporate Services is acting as the lead manager to the issue and Bigshare Services is the registrar. 8) Issue structure About 50% of the offer is reserved for QIBs, 15% for NII investors and 35% for retail investors. 9) Important dates The IPO opens on February 26 and will close on February 28. The final allotment will likely be made on February 29. The company's shares will likely get listed on March 4. 10) Owais Metal and Mineral Processing GMP The company's shares have no GMP in the unlisted market. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)