Ahmedabad based Shaival Reality becomes the 30th SME to get listed with NSE's Emerge Platform
Updated: Oct 01, 2015 05:11:33pm
Mumbai, Oct 1 (KNN) Ahmedabad based Shaival Reality Limited, engaged in the business of providing logistics services and construction, has got listed on the National Stock Exchange’s SME platform Emerge, today.
The company entered the capital market with its maiden Initial Public Offering (IPO) of 5,28,000 equity shares of face value of Rs 10 aggregating to Rs 5.28 crores. The issue opened for subscription on September 15, 2015 and closed on September 18, 2015 and was oversubscribed by 1.20 times.
The Merchant banker to the issue was Sarthi Capital Advisors Private Limited.
Shaival Reality will be the 30th company overall to list on the EMERGE platform (IPO and ITP included).
NSE has made intensive efforts over the years to educate SME’s about the benefits of raising funds through its SME Platform, by issuing an IPO. The platform helps entrepreneurs to raise capital for their growth and innovation and helps the companies to unlock value for its early investors to find an efficient exit.
On the criterion for getting listed on Emerge, NSE in a release said, “Companies with a post-issue paid up capital of less than 25 crores and they have to have a track record of 3 years, positive cash accruals for 2 years and positive net worth to be eligible.”
"The SME Emerge platform helps SME companies in enhancing the visibility, creating a market for the company's shares. Besides, it helps in enhancing public awareness and interest in the company and its products. It also provides access to additional fund raising, through rights or placement issues," said Ravi Varanasi, Chief - Business Development, NSE.
Once a company attains growth and gains size then it can migrate to the mainboard.
The platform encourages the promoters to give an audience to the investor community to instil confidence in them and thereby build their credibility. NSE is very keen that good quality companies should be able to raise funds on Emerge, while on the other hand it is an opportunity for investors to invest in high growth companies, with good business models, the release added. (KNN Bureau)
The company entered the capital market with its maiden Initial Public Offering (IPO) of 5,28,000 equity shares of face value of Rs 10 aggregating to Rs 5.28 crores. The issue opened for subscription on September 15, 2015 and closed on September 18, 2015 and was oversubscribed by 1.20 times.
The Merchant banker to the issue was Sarthi Capital Advisors Private Limited.
Shaival Reality will be the 30th company overall to list on the EMERGE platform (IPO and ITP included).
NSE has made intensive efforts over the years to educate SME’s about the benefits of raising funds through its SME Platform, by issuing an IPO. The platform helps entrepreneurs to raise capital for their growth and innovation and helps the companies to unlock value for its early investors to find an efficient exit.
On the criterion for getting listed on Emerge, NSE in a release said, “Companies with a post-issue paid up capital of less than 25 crores and they have to have a track record of 3 years, positive cash accruals for 2 years and positive net worth to be eligible.”
"The SME Emerge platform helps SME companies in enhancing the visibility, creating a market for the company's shares. Besides, it helps in enhancing public awareness and interest in the company and its products. It also provides access to additional fund raising, through rights or placement issues," said Ravi Varanasi, Chief - Business Development, NSE.
Once a company attains growth and gains size then it can migrate to the mainboard.
The platform encourages the promoters to give an audience to the investor community to instil confidence in them and thereby build their credibility. NSE is very keen that good quality companies should be able to raise funds on Emerge, while on the other hand it is an opportunity for investors to invest in high growth companies, with good business models, the release added. (KNN Bureau)
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