7 Kolkata SMEs File For NSE Emerge Listings In A Month

Kolkata, May 14 (KNN) In a notable development for the region's Small and Medium Enterprise (SME) sector, seven Kolkata-based companies have filed draft red herring prospectuses (DRHPs) within a month, signaling their intent to list on the National Stock Exchange's SME platform, NSE Emerge.

Collectively, these companies are anticipated to raise over Rs 200 crore through their Initial Public Offerings (IPOs).

Industry experts have highlighted that it has been a considerable period since such a substantial number of Micro, Small, and Medium Enterprises (MSMEs) from the eastern region have pursued listings on the stock exchange.

The companies that have initiated the IPO process or filed DRHPs include Sylvan Plyboards, Rungta Greentech, Petro Carbon & Chemicals, Veritas Advertising, Tandhan Polyplast, QVC Exports, and Nephrocare India.

Sunil Goenka from Nova Relatime, an SME IPO communication advisory, observed that Kolkata companies have finally recognised the importance of SME IPOs.

Mamta Binani, the president of the MSME Development Forum, Bengal, stated, “The region is witnessing unprecedented growth of SME IPOs, and this is accelerating quality development in the region, creating a positive economic scenario.”

Among the companies seeking listings, Sylvan, a plywood manufacturer, reported a revenue of Rs 199 crore and a net profit of Rs 4.5 crore. Rungta Greentech, a producer of recycled pet flakes, monofilament yarns, and blow-moulded HDPE jars, generated a revenue of Rs 50 crore and a profit after tax (PAT) of Rs 2.5 crore.

The ATHA Group's Petro Carbon posted a revenue of Rs 515 crore with a PAT of Rs 50 crore. Veritas, an outdoor marketing and advertising agency, launched its IPO on Monday with a price band of Rs 109-114 and has a PAT of Rs 4.3 crore.

Tandhan Polyplast, a tarpaulin manufacturer, reported a revenue of Rs 115 crore with a PAT of Rs 5.6 crore. QVC Exports recorded a PAT of Rs 1.8 crore, while Nephrocare India, a kidney care provider, had previously raised Rs 8 crore in a pre-IPO round.

(KNN Bureau)