IPO Today : Four SME IPOs Live: Leo Dry Fruits, Davin Sons, Parmeshwar Metal, and Fabtech Technologies

IPO Day 3 Subscription Status

(January 3, 2025, 11:29:08 AM)

On the final day of bidding, the Leo Dry Fruits and Spices IPO recorded a total subscription of 31.99 times the available shares. The portion reserved for non-institutional investors (NIIs) was subscribed 37.77 times, while the retail investor segment saw a subscription rate of 44.8 times. The shares allocated to qualified institutional buyers (QIBs) received a 4.57 times subscription.

IPO Details

• Leo Dry Fruits and Spices is launching an IPO with a total issue size of Rs 25.12 crore. The offering comprises a complete fresh issue of 48.30 lakh shares.
• The bidding period for the Leo Dry Fruits and Spices IPO opened on January 1, 2025, and closed on January 3, 2025. 
• The allotment of shares is anticipated to be finalized on Monday, January 6, 2025, with the company's listing on the BSE SME scheduled for Wednesday, January 8, 2025.
• The IPO is priced within a range of ₹51 to ₹52 per share with a lot size of 2000 shares.
• Shreni Shares Limited is serving as the book-running lead manager for the IPO, with Bigshare Services Pvt Ltd handling the registrar duties. 
• Rikhav Securities Limited has been appointed as the market maker for the issue.

Use of Proceeds

The company intends to utilize the net proceeds from the issue to meet its working capital requirements, support branding, advertisement, and marketing activities, and address general corporate purposes.

Davin Sons Limited

Founded in March 2022, Davin Sons Retail Limited specializes in the production and design of a diverse range of premium readymade garments, including jeans, denim jackets, and shirts for various brands.

The company operates through two primary business verticals:

• Garment Manufacturing on a job work basis
• FMCG Product Distribution

Davin Sons Retail Limited serves a broad customer base across multiple states, including Haryana, Delhi, Punjab, Arunachal Pradesh, Rajasthan, Gujarat, Bihar, and Chhattisgarh, covering a wide geographical area.

IPO Day 2 Subscription Status

(January 3, 2025, 11:39:10 AM)

As of the second day of bidding, the Davin Sons IPO was subscribed 6.5 times the total available shares. The non-institutional investors (NIIs) segment recorded a subscription of 1.54 times, while the retail investor portion saw a higher subscription rate of 11.47 times.

IPO Details

• Davin Sons IPO is a fixed price issue amounting to Rs 8.78 crore, comprising a complete fresh issue of 15.96 lakh shares.
• The bidding period for the Davin Sons IPO opened on January 2, 2025, and will close on January 6, 2025. 
• The allotment of shares is expected to be finalized on Tuesday, January 7, 2025, with the listing on the BSE SME platform tentatively scheduled for Thursday, January 9, 2025.
• The IPO is priced at ₹55 per share, with a minimum application lot size of 2,000 shares.
• Navigant Corporate Advisors Ltd is serving as the book-running lead manager for the IPO, with Kfin Technologies Limited acting as the registrar. 
• The market maker for the issue is Aftertrade Broking Pvt Ltd.

Use of Proceeds

The company plans to utilize the net proceeds from the issue to fund capital expenditure for acquiring a warehouse, partially finance its working capital requirements, and address general corporate purposes.

Parmeshwar Metal Limited

Established in August 2016, Parmeshwar Metal Limited specializes in producing copper wires and rods by recycling copper scrap. The company's manufacturing facility is located in Dehgam, Gujarat.

Parmeshwar Metal Limited is an ISO 9001:2015 certified company that offers a range of copper wire rods in sizes 1.6 mm, 8 mm, and 12.5 mm, customized to meet specific customer requirements.

The company's products cater to various industries, including power cables, building wires, transformers, the automotive sector, household cables, and both bare and enamelled wires.

IPO Day 2 Subscription Status

(January 3, 2025, 11:39:10 AM)

As of the second day of bidding, the Parmeshwar Metal IPO registered a total subscription of 24.53 times the offered shares. The non-institutional investors (NIIs) segment was subscribed 15.81 times, while the retail investor category recorded a subscription rate of 42.29 times. The QIB segment has not received any subscriptions so far.

IPO Details

• The Parmeshwar Metal IPO is a book-built offering with a total issue size of ₹24.74 crore, consisting entirely of a fresh issue of 40.56 lakh shares.
• The subscription window for the Parmeshwar Metal IPO opened on January 2, 2025, and will close on January 6, 2025. 
• The allotment is expected to be finalized on January 7, 2025 (Tuesday), and the shares are scheduled to be listed on the BSE SME platform on January 9, 2025 (Thursday).
• The price band for the Parmeshwar Metal IPO is ₹57 to ₹61 per share with a lot size of 2000 shares.
• Beeline Capital Advisors Pvt Ltd is serving as the book-running lead manager for the IPO, while Link Intime India Pvt Ltd is the registrar. 
• Spread X Securities Pvt Ltd has been appointed as the market maker for the issue.

Use of Proceeds

The proceeds from the fresh issue will be utilized for several purposes, including setting up a new manufacturing facility at Dehgam, Gujarat, for the production of bunched copper wire and 1.6 MM copper wire rod, renovating furnaces for copper melting, meeting working capital requirements, and addressing general corporate purposes.

Fabtech Technologies Cleanrooms Limited

Founded in 2015, Fabtech Technologies Cleanrooms Limited manufactures pre-engineered modular panels and doors for cleanrooms in the pharmaceutical, healthcare, and biotech industries. The company offers a wide range of customized cleanroom solutions, including panels, doors, HVAC (Heat Ventilation Air Conditioning) systems, and electrification works. Its main manufacturing facility in Umbergaon, Gujarat, spans 70,000 sq. ft. and is equipped with advanced machinery for cleanroom partition production. Through its subsidiary, Altair Partition Systems LLP, the company also produces cost-effective modular panels at a 25,000 sq. ft. leased facility in Murbad, Thane.

IPO Day 1 Subscription Status

(January 3, 2025, 11:44:17 AM)

On the first day of the bidding process, the Fabtech Technologies Cleanrooms IPO received a total subscription of 5.17 times the shares available. The portion allocated to non-institutional investors (NIIs) was subscribed 2.96 times, while the retail investor segment was subscribed 5.17 times. The QIB segment has not received any subscriptions so far.

IPO Details

• The Fabtech Technologies IPO is a book-built offering with a total issue size of ₹27.74 crore, comprising a fresh issue of 32.64 lakh shares.
• The subscription window for the Fabtech Technologies IPO opened on January 3, 2025, and will close on January 7, 2025. 
• Allotment of shares is expected to be finalized on January 8, 2025 (Wednesday), with the shares slated for listing on the BSE SME platform on January 10, 2025 (Friday).
• The price band for the IPO has been set between ₹80 and ₹85 per share with a lot size of 1600 shares.
• Vivro Financial Services Private Limited is the book-running lead manager for the issue, while Maashitla Securities Private Limited serves as the registrar. 
• The market maker for the Fabtech Technologies IPO is Rikhav Securities Limited.

Use of Proceeds

The company plans to use the proceeds raised through the issue to meet long-term working capital requirements, acquire equity shares of Kelvin Air Conditioning and Ventilation Systems Private Limited, and for general corporate purposes.

Disclaimer: Investing in SME IPOs involves a high degree of risk. Such investments may be suitable only for investors with a high-risk tolerance and the ability to bear potential losses. Perform thorough due diligence and consult a financial advisor before investing. Invest wisely and at your own discretion.