Two SME Initial Public Offerings (IPOs) of Macfoss Limited and Sealmatic India are going to be launched for public subscription from Friday, February 17, 2023, and the three-day initial share sale will close on Tuesday, February 21, 2023. ,
SME IPO Launching tomorrow-
MacPhos IPO: The price band of the offer has been fixed since 96 102 per share. The Issue is an SME issue consisting of 2,328,000 Equity Shares of face value 10 overall 24 crores. The Offer comprises an Offer for Sale (OFS) by the Selling Shareholders.
The company has said in its offer documents that the selling shareholders will receive the entire proceeds from the OFS and the company will not receive any share of the issue proceeds. The shares of the company are expected to get listed on BSE SME on March 1, 2023. BigShare Services Private Limited is the Registrar to the Issue.
Sealmatic India IPO: Pursuant to the prospectus filed with bse SME, 24,99,600 equity shares are offered at a price band of from 220 225 per equity share. The issue of Rs 56 crore will comprise a fresh issue of 18,50,00 equity shares in aggregate 41.6 crore for fund expansion plan and Offer for Sale (OFS) of 6,49,600 equity shares in aggregate 14.6 crores. The gross proceeds of the issue will be employed for purchase of plant and machinery, product and sales development and other corporate purposes.
Incorporated in 2009, Sealmatic is a manufacturer of mechanical seals with domestic and international customers in over 45 countries. Sealmatic mechanical seals are supplied to industry leaders in oil and gas, refinery, petrochemical, chemical, pharmaceutical, fertilizer, power, mining, pulp and oil. paper, aerospace, marine and other industries.
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