Shri Balaji Valve Components‘share price made a strong debut on the bourses today, January 03, 2024, when it was listed at 190 per share on BSE SME, a 90% premium to the issue price of 100. The stock continued to rise, reaching an intraday high of 199.50 per share.
The SME IPO raised 21.60 crore and was open for subscription between December 27 and December 27, 2023, at a price band of 95-100 per share. The IPO is a brand-new offering of 2,160,000 equity shares.
The issue was subscribed to 276 times in total. According to Trendlyne data, the issue received a strong response from retail investors, who subscribed to the portion set 169.95 times, and a solid response from non-institutional buyers, who subscribed to the portion set 799.70 times. The portion for qualified institutional buyers (QIBs) was subscribed to 70.04 times.
The net proceeds of the offering will be used for general corporate purposes, working capital needs, and financing capital expenditures for the installation of additional plant and machinery.
About Shri Balaji Valve
Shri Balaji Valve Components is in the business of producing ready-to-assemble valve components for the manufacture of valves used in various industries and in various sizes depending on the customer’s specifications. The company is currently operating from two manufacturing facilities in Pune, Maharashtra.
According to the company’s RHP report, the company has exported valve components to various countries over the last three years, including Dubai, Germany, Singapore, Taiwan, Italy, South Africa, the United States, the United Kingdom, Qatar, and Pennsylvania.
Shri Balaji Valve Financials
The company reported revenue of 1,616.49 lakhs in FY21, which increased to 3,906.05 lakhs in FY22 and then to 6,294.10 lakhs in FY23. The company reported a net loss of 3.22 lakhs in FY21, followed by a net profit of 153.47 lakhs in FY22. The momentum continued, and in FY23, the net profit increased to 643.15 lakhs.
