Energy Mission Machineries (India) Ltd, an Ahmedabad-based company dealing in designing and manufacturing a diverse range of sheet metal machinery, is planning to raise up to ₹41.15 crore from its SME public issue.
The initial public offering comprises a fresh issue of 29.82 lakh equity shares of face value ₹10 each in the price band of ₹131 to ₹138 per equity share for the public issue. Out of the issue proceeds of ₹41.15 crore, the company plans to utilise ₹6.86 crore towards civil construction work at the existing manufacturing unit located at Sanand, ₹7.43 crore towards the installation of a new plant & machinery, ₹15 crore towards working capital requirements.
The company has received approval to launch its public issue on the NSE Emerge Platform of the National Stock Exchange. The public issue opens for subscription on May 9 and closes on May 13. The proceeds of the public issue will be used to fund the company’s expansion plans including civil construction work, new plant & machineries at existing manufacturing unit in Sanand, Gujarat, meeting the working capital requirements, and general corporate purposes. Hem Securities Limited is the book-running lead manager of the issue.
Energy Mission Machineries (India) designs and manufactures CNC, NC, and conventional metal forming machines that cater to the industrial sector’s need for metal fabrication solutions. The company’s range of metal forming machines includes press brake machines, shearing machines, plate rolling machines, ironworker machines, hydraulic presses, busbar bending, cutting, and punching machines. The company’s machines are used across various industries, including automotive, steel, pre-engineered buildings, furniture, HVAC, agricultural equipment, road construction equipment, elevators, food processing machinery, metalworking workshops, etc. For the first nine months of 2023-24, the company reported a total income of ₹83.99 crore and a net profit of ₹6.74 crore.
