Leading plastic products manufacturer and exporter, Essen Specialty Films, has announced its upcoming listing on the National Stock Exchange.
The company has confirmed that its Initial Public Offering (IPO) will commence on June 23.
Investors involved in the stock market should take note of this significant development.
Here are the key details regarding the company’s IPO.
Essen Specialty Films IPO Details
The price range for the IPO has been set at Rs 101-107 per share.
Interested investors can participate in the IPO until June 27.
The company aims to raise Rs 66 crore through this offering, with 46.99 lakh fresh shares being issued.
Additionally, 15 lakh shares will be made available for sale.
The funds generated from the IPO will be utilized to repay debts, meet working capital requirements, and support general corporate purposes.
Lot Size and Important Dates
The lot size for this IPO has been determined as 1200 shares.
The final allotment of shares is scheduled for July 3, while share refunds will be processed on July 4, 2023. The company is set to be listed on July 6, 2023.
Company’s Financial Performance
Essen Specialty Films has reported a net profit of Rs 13.37 crore in FY23, representing a significant 100% increase compared to the previous fiscal year, FY22.
Based on the upper price band, the market capitalization of the company is projected to reach Rs 221.5 crores.
Introduction to Essen Specialty Films
Essen Specialty Films primarily operates in the home improvement and furnishing industry.
Its products are supplied to renowned multinational retail chains such as Ikea, Walmart, Kmart, Bed Bath & Beyond, Rusta, Runsween, Coles, and Kroger.
The Ministry of Commerce and Industry, Government of India, has recognized Essen Specialty Films as a Two Star Export House.
