Mumbai (Maharashtra) [India], August 20: QVC Exports Limited, a provider of Ferroalloys and essential raw materials for steel manufacturing, has announced its plan to go public with an IPO on August 21, 2024. The company aims to raise ₹ 24.07 Crore, with shares to be listed on the NSE Emerge platform.
The issue size is Up To 27 98,400 equity shares at a face value of ₹ 10 each.
Equity Share Allocation
- Non-Institutional Investors (NII) – Up 13, 28,000 to Equity Shares
- Retail Individual Investors (RII) – Up 13, 29,600 to Equity Shares
- Market Maker – Up 1, 40,800 to Equity Shares
The net proceeds from the Issue will be utilised primarily to refund the Repayment of Unsecured Loans and the Company’s Working Capital Requirement. The issue will open for subscription on Wednesday, August 21, 2024 and closes on Friday, August 23, 2024.
The Lead Manager of the Issue is Khandwala Securities Limited; The Registrar of the Issue is Cameo Corporate Services Limited.
Mr. Nilesh Kumar Sharma, Chairman And Managing Director of QVC Exports Limited, expressed, “This milestone represents a significant step forward in our journey and a testament to the dedication and hard work of our entire team. Over the years, we have built a unique business model focusing on procuring and selling ferroalloys and raw materials, emphasizing quality and reliability across the steel supply chain. Our commitment to excellence is reflected in our extensive quality control measures, including partnerships with reputed inspection agencies and adherence to rigorous ISO standards. We have established a strong international presence and a diverse client base, highlighting our capability to deliver high-quality products to markets worldwide.
The IPO will begin a new phase in our journey and enable us to further enhance our operations, expand our market reach, and invest in new opportunities to drive future growth. ”
Mr. Rinav Manseta, Associate Director of KhandwalaSecurities Limited, said, “We are delighted to be part of this significant milestone as QVC prepares for its IPO. The company’s successful growth path and innovative business model in the ferroalloys and raw materials sector position it strongly within the industry. The global ferroalloys market is experiencing robust growth, driven by increasing demand from the steel manufacturing sector, advancements in technology, and a growing emphasis on quality and efficiency. QVC has demonstrated its ability to capitalize on these trends through its strategic procurement and sales approach, ensuring high-quality products and fostering strong relationships across the supply chain. With strong revenue derived from international operations and a well-established client base spanning multiple countries, the company is well-positioned to leverage the expanding market opportunities.
The IPO will provide a platform for the company to further its expansion plans, enhance its operational capabilities, and drive sustained growth.”
If you object to the content of this press release, please notify [email protected]. We will respond and rectify the situation within 24 hours.
