New Delhi, May 22 (KNN) Indian Emulsifier, a leading manufacturer of metal forming machines, made a remarkable stock market debut on Wednesday.

The company's shares were listed on the National Stock Exchange's SME platform, soaring 225.8 per cent above the issue price to open at Rs 430.

The significant listing premium came on the heels of robust investor demand during the Initial Public Offering (IPO) process.

Indian Emulsifier's Rs 42.43 crore IPO, comprising entirely fresh equity shares, witnessed a staggering oversubscription of more than 450 times.

Ahead of the listing, the company's unlisted shares had commanded a premium of Rs 250 in the grey market, indicating strong investor interest in the offering.

Indian Emulsifier plans to utilise the IPO proceeds to fund capital expenditures for plant and machinery acquisitions, working capital requirements, and general corporate purposes.

Established in 2011, the company designs and manufactures a comprehensive range of CNC, NC, and conventional metal forming machines catering to the industrial sector's metal fabrication needs.

Its extensive product portfolio includes over 600 variants spanning press brake machines, shearing machines, plate rolling machines, iron workers machines, hydraulic presses.

With a diverse customer base across automotive, steel, pre-engineered buildings, furniture, HVAC, agricultural equipment, road construction equipment, elevators, food processing machinery, metalworking workshops, and numerous other industries, Indian Emulsifier has supplied 1,657 machines to over 1,150 customers in the last three fiscal years and the nine months ended December 2023.

For the period ended December 2023, the company reported revenues of Rs 48.7 crore and a net profit of Rs 6.75 crore.

The successful listing of Indian Emulsifier comes amid promising growth prospects for India's chemical sector, which is currently valued at USD 220 billion and is projected to reach USD 300 billion by 2025 and USD 1 trillion by 2040.

Ekadrisht Capital acted as the lead manager for the IPO, while Maashtila Security Services served as the registrar.

(KNN Bureau)