Shera Energy to Raise Rs 35 Crore Through IPO

The initial public offering (IPO) for Shera Energy Ltd, which produces winding wires and strips from brass, copper and aluminium, began on February 7 and will run till February 9, 2023. Through its inaugural share offering, the company expects to raise Rs 35 crore, and its shares will be listed on the NSE Emerge platform. The SME IPO has an issue band price of £55 to £57.

The issue size is up to 61,76,000 Equity Shares, out of which 10,48,000 Equity Shares will be issued in the fresh issue and 51,28,000 Equity Shares will be offered for sale. intends to use the net income from the business IPO To meet general corporate needs and meet working capital requirements. The company’s chairman and managing director Naseem Shaikh said the net proceeds from the IPO would be used for general corporate objectives as well as to meet working capital requirements.

Market sources claim that Shera Energy shares are currently trading at a premium of 18 or GMP (grey market premium) in the gray market. A portfolio of eligible small and medium-sized businesses that are listed on the NSE Emerge platform will appear. Performance of Nifty SME Emerge Index.

Under one roof, the business produces goods made of non-ferrous metals such as copper, aluminum and brass. The issue is being managed by Holani Consultants Private Limited acting as the book-running lead manager. “Over the past 18 months, Shera Energy has seen solid growth in both its top line and bottom line. From Rs. 5.03 crore in FY21 at Rs. 7 Crore in FY 22, the company’s PAT has increased. On a revenue of Rs. 339.54 crores, the company had a net profit of Rs. 4.28 crores. In FY2023, according to Manish Khanna, co-founder of Unlisted Assets.

According to Krishna Raghavan, Founder, UnlistedCart, “Considering the growth ambitions of the company, Shera Energy can provide good returns to the allottees in the long run.”

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