The issue of Hemant Surgical Industries comprises up to 27,60,000 equity shares with a face value of Rs 10 each, aggregating to Rs 24.84 crore at the upper limit of the price band. The initial public offering (IPO) of Hemant Surgical Industries will open for subscription on May 24 (Wednesday) It will close on Friday, May 26. The company will sell its shares in the price band of Rs 85-90 apiece.
The issue of Hemant Surgical Industries comprises up to 27,60,000 equity shares with a face value of Rs 10 each, aggregating to Rs 24.84 crore at the upper limit of the price band. The issue is entirely a fresh stake sale, which is likely to make Dalal Street debut on June 5.
The company intends to utilise the proceeds from the Issue for funding capital expenditure towards the installation of additional plant and machinery, funding to meet working capital requirements, and general corporate purpose.
The Book Running Lead Managers to the IPO are Hem Securities, while Bigshare Services is the registrar to the issue. Shares of the company will be listed on the SME platform of BSE.
The portion of the issue being not less than 35 per cent has been reserved for the retail investors. The company has fixed QIB quota at 50 per cent and NII quota at 15 per cent. However, 1,44,000 equity shares are reserved for Hem Finlease who is the market maker for the issue.
Hemant Surgical incorporated in 1989, is a Mumbai headquartered Company having more than three decades experience in medical equipment and disposables. Its products cater to renal care, cardiovascular disease, respiratory disease, critical care and radiology. The company has ISO Certified one manufacturing unit and two assembly units in Maharashtra.