Mumbai (Maharashtra) [India], January 10: New Swan Multitech Limited Incorporated in 2014, specializes in the manufacture of precision-engineered components and parts for two sectors: the automotive industry and modern farming. The company is going to become public as it has announced to raise Rs 33.11 crores via an initial public offering (IPO) by issuing entirely a fresh issue of 50.16 lakh shares.
For its SME Initial Public Offering (IPO), New Swan Multitech Limited has established a fixed price band of Rs 62 to Rs 66 per share. The company’s shares will be listed on the BSE SME, with a projected listing date of Wednesday, January 18, 2024.
Bigshare Services Pvt Ltd is the registrar for the New Swan Multitech IPO, while Hem Securities Limited and Share India Capital Services Private Limited is the book-running lead manager.
The issue proceeds will be utilized in funding capital expenditure towards purchase of certain machineries for existing manufacturing unit located at Raian, Ludhiana, repayment of a portion of certain borrowing, to meet working capital requirements and general corporate purposes.
On Tuesday, January 16, 2024, the shares for the New Swan Multitech IPO are anticipated to be allotted, and on Wednesday, January 17, 2024, the shares will be credited to the demat account of the allottees. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment.
Retail investors need to contribute a minimum of Rs 1.32 lakh considering the minimum lot size for an application is 2000 shares. For HNIs, the minimum bidding size is two lots, or 4,000 shares, for a total investment of Rs 2.64 lakh.
In FY23, the company has revenue of Rs 151.16cr with EBITDA of Rs 20.22cr. The PAT was Rs. 9.91cr with ROCE 24.86%. 60% Revenue contribution is from automotive components and 37% from agricultural implements in FY23.
New Swan Multitech Limited has 300 SKUs manufactured from 2 factories located at Ludhiana Punjab & Ahmedabad Gujarat. Relationship with Honda Motor Cycle & Scooter India (6 years) , MG Motors ( 3 years), Mahindra & Mahindra ( 3 years)
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