Pratham EPC Projects witnessed an impressive debut on the NSE SME platform, with its shares commanding a 51 percent premium over the issue price of Rs 75, reaching Rs 113.30 on March 18.
This listing has outperformed the grey market expectations, which had pegged the potential listing price at Rs 102. The grey market serves as an informal avenue for trading IPO shares until their official listing.
With a goal to raise around Rs 36 crore from the public, Pratham EPC Projects offered a fresh issue of 48 lakh shares, within a price band of Rs 71-75 for the IPO.
Established in 2014, Pratham EPC Projects Limited specializes in providing services to oil and gas utilities throughout India. It primarily focuses on gas pipeline projects, undertaking crucial tasks such as welding, testing, and commissioning. The company’s core competency lies in comprehensive project management, covering engineering, procurement, construction, and commissioning activities.
The funds raised through the IPO will be utilized for acquiring machinery, meeting working capital requirements, and supporting general corporate purposes.
In the IPO process, Beeline Capital Advisors Pvt Ltd acted as the book-running lead manager for Pratham EPC Projects, with Link Intime India Private Ltd serving as the registrar for the issue. Spread X Securities played the crucial role of market maker for the Pratham EPC Projects IPO.
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