Falcon Technoprojects India Limited has revealed its intention to debut on the stock market through an Initial Public Offering (IPO) scheduled for June 19, 2024. The company’s goal is to secure Rs 13.69 Crore by offering shares at Rs 92 each, with plans to list these shares on the NSE Emerge platform.
The IPO proceeds will be used for working capital and general corporate purposes. The Issue closes on June 21, 2024, with Kunvarji Finstock Private Limited as the Lead Manager and KFIN Technologies Limited as the Registrar.
The IPO entails an issue size of up to 14,88,000 equity shares valued at Rs 10 each.
Equity Share Allocation
. Non-Institutional Investors (NII) – Up To 7,06,800 Equity Shares
. Retail Individual Investors (RII) – Up To 7,06,800 Equity Shares
. Market Maker – Up To 74,400 Equity Shares
Bharat Shreekishan Parihar, Managing Director of Falcon Technoprojects India Limited, stated, “Launching our IPO marks a significant leap forward for Falcon. Specializing in Mechanical, Electrical, and Plumbing (MEP) services across sectors like petroleum refineries, residential townships, atomic energy, and civil construction, we are positioned for robust growth. The net proceeds from the IPO will be allocated to Working Capital Requirements and General Corporate Purposes, supporting our expansion and enhancing our ability to provide exceptional MEP services throughout India. Our expert team is dedicated to maintaining high standards in design, installation, and maintenance, ensuring reliable and efficient solutions tailored to each industry’s needs.”
Jiten Patel, AVP at Kunvarji Finstock Pvt Ltd, praised Falcon Technoprojects for its expertise in MEP services, including Fire Alarm, Networking, Security & Surveillance Systems. He commended their commitment to quality design, installation, and maintenance, wishing them success on their IPO launch, which will enhance their capabilities to meet market demands.