ENA MSME 2024-11-04 14:48:00 <p><span style="font-size:14px"><strong>New Delhi, Nov 4 (KNN)</strong> Rosmerta Digital Services is poised to make history in India's SME segment with its upcoming Rs 206-crore initial public offering, scheduled to open for subscription on November 18. </span></p> <p><span style="font-size:14px">The company has set the price band at Rs 140-147 per share, marking the first IPO in the segment to exceed the Rs 200-crore threshold.</span></p> <p><span style="font-size:14px">Notably, the offering's size exceeds several mainboard segment IPOs, including those of Diffusion Engineers, Manba Finance, and Shree Tirupati Balajee Agro Trading Company, among others.</span></p> <p><span style="font-size:14px">The Haryana-based digital services provider, which specialises in digitally enabled services and automotive component sales, will issue 1.4 crore fresh equity shares. </span></p> <p><span style="font-size:14px">The company plans to allocate Rs 118.5 crore of the proceeds toward expanding its infrastructure, including new office space in Mumbai, warehouses, model workshops, and experience centres across India. The remaining funds will support inorganic growth initiatives and general corporate purposes.</span></p> <p><span style="font-size:14px">The IPO timeline includes an anchor book opening for institutional investors on November 14, with the general subscription period closing on November 21. </span></p> <p><span style="font-size:14px">Share allotment is scheduled for November 22, with demat account crediting by November 25. Trading on the BSE SME platform is expected to commence on November 26.</span></p> <p><span style="font-size:14px">Rosmerta's financial performance has shown remarkable growth, with net profit surging to Rs 10.6 crore in FY2024 from Rs 1.6 crore in the previous year. </span></p> <p><span style="font-size:14px">Revenue from operations witnessed a similar trajectory, increasing to Rs 84.19 crore from Rs 29.8 crore. </span></p> <p><span style="font-size:14px">The company has already surpassed these figures in the first half of the current fiscal year, reporting a profit of Rs 14.8 crore on revenue of Rs 92.2 crore.</span></p> <p><span style="font-size:14px">The IPO represents a growing trend in the SME segment, with 2024 seeing ten offerings exceeding Rs 100 crore, compared to just one in the previous year. </span></p> <p><span style="font-size:14px">Narnolia Financial Services and Beeline Capital Advisors are serving as merchant bankers for the issue.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39798 https://knnindia.co.in/news/newsdetails/msme/first-200-cr-plus-sme-ipo-announced-by-rosmerta-digital 2024-11-04 14:48:00 knnindia.co.in