The Initial Public Offering (IPO) of Accent Microcell Limited is set to open on 8th December. The pharmaceutical company aims to raise Rs 78.40 crore through this book built issues and has put fresh issue of 56 lakh shares on offer. The company proposes to use the funds to set up a new plant to boost manufacturing of its products and for general corporate expenses.
10 Facts about Accent Microcell Limited IPO
- It’s a NSE SME IPO that will be listed on 15th December, 2023.
- The issue will open for subscription on 8th December (Friday) and will close on 12th December (Tuesday).
- The total issue size is 56 lakh shares aggregating up to Rs 78.40 crore.
- The price band is set at Rs 133 to Rs 140 per share at a face value of Rs 10.
- The lot size is 1,000 shares, meaning the investors can only bid in multiples of 1,000 shares. The minimum investment comes out to be Rs 1,40,000. The lot size for retail investors is 1 minimum and maximum. For HNIs it’s minimum of 2 lots.
- The IPO reservation is minimum 35% for the retail investors, minimum 15% for the NIIs, and maximum 50% portion for QIBs.
- The basis of allotment will be finalised on 13th December, 2023, the day after the subscription closes. The refunds will be initiated on 14th December and the shares will be credited to the Demat accounts of the successful allottees on 14th December. The company has set the NSE listing date of 15th December, 2023.
- Accent Microcell will be among the first SME IPOs to follow the SEBI’s T+3 directive that states that the all proceedings related to the IPO such as allotment, refunds, credit of shares and listing should take place within 3 days after the last day of subscription.
- Kfin Technologies Pvt Ltd is the registrar for Accent Microcell Limited IPO.
- The shares holding pre issue is 73.13% and post issue will be 53.67%. The Promoters of the company are Mr. Vasant Vadilal Patel, Mr. Ghanshyam Arjanbhai Patel, Mr. Nitin Jasvantbhai Patel and Mr. Vinodbhai Manibhai Patel
The company reported a revenue of Rs 204.19 crore in FY23, up from Rs 165.71 crore in FY22. In the first quarter of FY24, the company posted a revenue of Rs 58.81 crore. The profit after tax stood at Rs 13.01 crore in FY23 against Rs 5.89 crore in FY22. In the first quarter of FY24, the company reported Profit After Tax (PAT) of Rs 7.06 crore.
