Energy Mission Machineries plans to raise up to Rs. 41.15 crore from public issue; IPO opens May 9

Ahmedabad (Gujarat) [India]: Ahmedabad based Energy Mission Machineries (India) Ltd, a leading company in designing and manufacturing of a diverse range of sheet metal machinery is planning to raise up to Rs. 41.15 crore from its SME public issue. The company has received approval to launch its public issue on NSE Emerge Platform of National Stock Exchange. The public issue open for subscription on May 9 and closes on May 13. The Proceeds of the public issue will be utilised to fund company's expansion plans including civil construction work, new plant & machineries at existing manufacturing unit at Sanand, Gujarat, meeting the working capital requirements and general corporate purposes. Hem Securities Limited is the book running lead manager of the issue.

Company to issue 29.82 lakh Equity shares of Rs. 10 face value in the price band of Rs. 131 to Rs. 138 per share; To list NSE EMERGE Platform of NSE

The initial public offering comprises of a fresh issue of 29.82 lakh equity shares of face value Rs. 10 each in the price band of Rs. 131 to Rs. 138 per equity share for the public issue. Out of the issue proceeds of Rs. 41.15 crore, company plans to utilize Rs. 6.86 crore towards civil construction work at existing manufacturing unit located at Sanand, district Ahmedabad, Gujarat, Rs. 7.43 crore towards installation of new plant & machineries, Rs. 15 crore towards working capital requirements. Minimum lot size for the application is 1000 shares which translates in to investment of Rs. 1.38 lakh per application. Retail investor quota for the IPO is kept at not less than 35% of the net offer, HNI quote is kept at not less than 15% of the offer and QIB portion is kept at not more than 50% of the net offer. Market Maker portion is kept at 1.50 lakh equity shares.

Energy Mission Machineries (India) designs and manufactures CNC, NC, and conventional metal forming machines that cater to the industrial sector’s need for metal fabrication solutions. The company’s range of metal forming machines includes press brake machines, shearing machines, plate rolling machines, ironworker machines, hydraulic presses, and busbar bending, cut- ting, and punching machines. The company’s machines are used across various industries, including automotive, steel, pre-engineered buildings, furniture, HVAC, agricultural equipment, road construction equipment, elevators, food processing machinery, metalworking workshops, etc.

Energy Mission Machineries (India) has sold its products to customers in over 20 states and 2 union territories in India. Additionally, the company has exported its products to several countries worldwide, including the USA, Switzerland, Russia, Nepal, Kenya, Uganda, UAE, Saudi Arabia, and other countries in the Middle East.

The company's manufacturing facility is situated in Sanand, Ahmedabad, spread over 18,234 sq. mtrs. The manufacturing facility is ISO 9001:2015 certified and has installed capacity to produce 900 machines annually. Company has sold its products in 20 states and 2 Union Territories in India, with most revenue from Maharashtra, Gujarat, and Karnataka.

Company has reported operational and financial performance over years. For the 9 months of FY 23-24 ended December 2023, company has reported consolidated total income of Rs. 83.99 crore, EBITDA of Rs. 12.71 crore and Net Profit of Rs. 6.74 crore. For full year of FY 22-23, company reported total income of Rs. 100.66 crore, EBITDA of Rs. 13.61 crore and Net profit of Rs. 7.90 crore. As on 30th December 2023, Net Worth of the company was reported at Rs. 30.28 crore, Reserves & Surplus at Rs. 21.93 crore. Shares of the company will be listed on NSE’s Emerge platform.