Ready Mix Construction IPO To Open On 6th February, Sets Price Band At Rs 121 to Rs 123 Per Share

Mumbai (Maharashtra) [India], February 06: Incorporated in 2012, Readymix Construction Machinery Limited offers engineering solutions for designing, developing, fabricating, and installing plant machinery and equipment, including Dry Mix Mortar Plants, concrete plant support, silos, and customized projects. The company is going to become public as it has announced to raise Rs 37.66 crores via an initial public offering (IPO) by issuing entirely a fresh issue of 30.62 lakh shares.

For its SME Initial Public Offering (IPO), Readymix Construction Machinery Limited has established a price band of Rs 121 to Rs 123 per share. The company’s shares will be listed on the NSE SME, with a projected listing date of Thursday, February 13, 2025.

Hem Securities Limited is the book running lead manager of the Readymix Construction IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Readymix Construction IPO is Hem Finlease Private Limited.

The issue proceeds will be utilized for repayment and/or pre-payment, in full or part, of borrowing availed by the Company to Meet Working Capital Requirements and General Corporate Purpose

The shares for Readymix Construction Machinery Limited are anticipated to be allotted on Tuesday, February 11, 2025 and on Wednesday, February 12, 2025, the shares will be credited to the demat account of the allottees. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment.

Retail investors need to contribute a minimum of Rs 1.23 lakh considering the minimum lot size for an application is 1000 shares. For HNIs, the minimum bidding size is two lots, or 2000 shares, for a total investment of Rs 2.46 lakh at upper price band.

The company has 110+ team members with a design and R&D team of 25+ members and has developed 35+ products in-house within the span of the last 2 years. The company uses siemens solid edge software and ARES standard Auto CAD software for design and development

The company provides end-to-end turnkey solutions, including conceptualisation, development, fabrication, testing, installation, and after-sales services such as repair and maintenance for plant machinery and equipment.

The company has Order book of Rs. 29.19 Cr as on 10th Jan, 2025, offers business consultancy services, including design, engineering, technology solutions, equipment installation support, and recipe consultancy to optimize performance, reduce costs, and enhance efficiency.

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