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Faalcon Concepts SME IPO Oversubscribed 1.51 Times: BSE Data

Updated: Apr 20, 2024 02:36:22pm

Faalcon Concepts SME IPO Oversubscribed 1.51 Times: BSE Data

New Delhi, Apr 20 (KNN) The initial public offering (IPO) of Faalcon Concepts has received robust investor demand, with the issue being oversubscribed 1.51 times, according to the latest subscription data from the Bombay Stock Exchange (BSE) as of Friday.

The Rs 12.09 crore IPO, which opened for subscription on April 19, witnessed bids for 29.6 lakh shares against the issue size of 19.5 lakh shares. The issue will close for bidding on Tuesday.

The IPO is a fresh issue of 19.5 lakh equity shares at a fixed price of Rs 62 per share, with a minimum order quantity of 2,000 shares.

Upon listing on the BSE SME platform, the promoter and promoter group's shareholding will dilute to 65.56 per cent from 91.76 per cent pre-IPO.

Of the total issue size, around 98,000 equity shares have been reserved for market makers. The net issue comprises 18.52 lakh shares, constituting 27.12 per cent of the post-issue paid-up equity share capital.

Faalcon Concepts plans to utilise the IPO proceeds to finance capital expenditure for purchasing facade structural equipment, meet working capital requirements, and fund general corporate purposes.

The company specialises in designing, engineering, fabricating, and installing complex facade systems, including curtain walls, skylights, canopies, cladding, and more.

(KNN Bureau)


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