ENA MSME 2024-05-14 14:01:27 <p><span style="font-size:14px"><strong>Kolkata, May 14 (KNN)</strong> 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.</span></p> <p><span style="font-size:14px">Collectively, these companies are anticipated to raise over Rs 200 crore through their Initial Public Offerings (IPOs).</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">The companies that have initiated the IPO process or filed DRHPs include Sylvan Plyboards, Rungta Greentech, Petro Carbon &amp; Chemicals, Veritas Advertising, Tandhan Polyplast, QVC Exports, and Nephrocare India.</span></p> <p><span style="font-size:14px">Sunil Goenka from Nova Relatime, an SME IPO communication advisory, observed that Kolkata companies have finally recognised the importance of SME IPOs.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 37798 https://knnindia.co.in/news/newsdetails/msme/7-kolkata-smes-file-for-nse-emerge-listings-in-a-month 2024-05-14 14:01:27 knnindia.co.in