The Initial Public Offering (IPO) for Shera Energy Limited, which produces winding wires and strips out of brass, copper, and aluminium, began on February 7 and will run through February 9, 2023. Through its inaugural share offering, the company hopes to raise Rs 35 crore, and its shares will be listed on the NSE Emerge platform. The SME IPO’s issue band price ranges from 55 to 57 pounds.
The issue size is up to 61,76,000 equity shares, of which 10,48,000 equity shares will be issued in a fresh issue and 51,28,000 equity shares will be offered for sale. The business intends to use the net proceeds from the IPO to fund general corporate needs and satisfy working capital requirements. The company’s chairman and managing director, Naseem Shaikh, stated that the net proceeds from the IPO will be used for general corporate purposes as well as to meet working capital requirements.
Market sources claim that shares of Shera Energy are currently trading on the grey market at a premium or GMP (Grey Market Premium) of 18. A portfolio of qualifying small and medium-sized businesses that are listed on the NSE EMERGE platform will be reflected in the performance of the NIFTY SME EMERGE Index.
Under one roof, the business produces goods made of non-ferrous metals like copper, aluminium, and brass. The issue is being managed by Holani Consultants Private Limited as the book-running lead manager. “Over the last 18 months, Shera Energy has seen solid growth in both its top line and bottom line. From Rs. 5.03 crore in FY 21 to Rs. 7 crore in FY 22, the company’s PAT has grown. On revenue of Rs. 339.54 cr., the company had a net profit of Rs. 4.28 cr. in FY 2023, according to Manish Khanna, co-founder of Unlisted Assets.
According to Krishna Raghavan, founder of Unlistedkart, “Considering the growth ambitions of the company, Shera Energy may deliver good returns to the allottees in the long run.”
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