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Time of India
5 days ago
- Business
- Time of India
Ganga Bath Fittings IPO opens for subscription
The Rs 33-crore IPO of Ganga Bath Fittings , manufacturer of bathroom accessories, opened for subscription on Wednesday. The IPO priced in the range of Rs 46-49 per equity share, will remain open until June 6, the company said in a statement. Shares of the company will be listed on NSE Emerge and the investors can bid for a minimum of 3,000 shares and in multiples thereof, it added. The IPO is entirely a fresh issue of 66.63 lakh shares. Proceeds from the IPO will be utilised for capital expenditure , repayment of debt, funding working capital requirements and general corporate purposes. Live Events "This IPO will fuel our vision for the future enabling us to invest in modern machinery, improve our manufacturing scale, and strengthen our financial foundation. We see this as a stepping stone to greater innovation and deeper market penetration," Ganga Bath Fittings' MD Jimmy Tusharkumar Tilva, said. In FY24, the company logged a revenue of Rs 31.89 crore and profit after tax (PAT) of Rs 2.48 crore. As of December last year, the firm posted a revenue of Rs 32.29 crore and PAT of Rs 4.53 crore. Jawa Capital Services is the sole book running lead manager and KFin Technologies is the registrar to the issue.
Time of India
14-05-2025
- Business
- Time of India
Accretion Pharmaceuticals IPO opens for subscription: Price band, GMP among key details to know
Accretion Pharmaceuticals has opened its initial public offering (IPO) for subscription today, May 14. The IPO, which is set to close on May 16, aims to raise Rs 29.75 crore through a fresh issue of 29.46 lakh equity shares. Ahead of the issue opening, the GMP is muted at Rs 0. The IPO follows a book-building process and will be listed on the NSE SME platform. Jawa Capital Services is the book-running lead manager for the issue, while Kfin Technologies is acting as the registrar. Gretex Share Broking has been appointed as the market maker for the IPO. The company plans to utilize the IPO proceeds for multiple purposes, including capital expenditure towards purchasing new equipment and upgrading its existing manufacturing facility. Part of the funds will also be used for repaying certain borrowings, funding working capital requirements, and meeting general corporate expenses. The allotment of shares is expected to be finalized on May 19, with refunds initiated on May 20, and shares credited to demat accounts the same day. The company is set to make its debut on the NSE SME platform on May 21. Accretion Pharmaceuticals IPO price band The price band for the IPO has been set at Rs 96 to Rs 101 per share, and investors can bid for a minimum of 1,200 shares, amounting to a minimum investment of Rs 1,15,200. About Accretion Pharmaceuticals Accretion Pharmaceuticals, a Gujarat-based pharmaceutical company, is engaged in the manufacturing and sale of a wide range of healthcare products, including tablets, capsules, oral liquids, external preparations, and Ayurvedic and herbal products. The company also offers contract manufacturing services to its clients. Its manufacturing facility is located in Ahmedabad, Sanand, Gujarat. Financials Financially, Accretion Pharmaceuticals has shown strong growth. As of December 2024, the company reported total revenue of Rs 35.75 crore and a profit after tax (PAT) of Rs 5.24 crore. Its net worth stood at Rs 13.58 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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Business Standard
12-05-2025
- Business
- Business Standard
Accretion Pharmaceuticals IPO opens on May 14: Here's all you need to know
Accretion Pharmaceuticals IPO: The initial public offering (IPO) of pharmaceutical company Accretion Pharmaceuticals will open for subscription on Wednesday, May 14, 2025. The Gujarat-based company aims to raise ₹29.75 crore through a fresh issue of ₹2.94 million equity shares. There is no offer for sale (OFS) component. The company has reserved around 50 per cent of the issue for qualified institutional buyers (QIBs), 35 per cent for retail investors and 15 per cent for non-institutional investors (NIIs). Here are the key details of Accretion Pharmaceuticals IPO: Accretion Pharmaceuticals IPO price band, lot size Accretion Pharmaceuticals has set the price band for its IPO in the range of ₹96 to ₹101 apiece. The minimum lot size for an application is 1,200 shares. A retail investor would require a minimum investment amount of ₹1,21,200 to bid for one lot. The minimum investment required for high-net-worth individuals (HNIs) is ₹2,42,400 for two lots. Accretion Pharmaceuticals IPO key dates According to the red herring prospectus (RHP), the three-day subscription window will tentatively close on Friday, May 16, 2025. The anchor investor bid period shall be one working day prior to the issue opening date i.e, Tuesday, May 13, 2025. The basis of allotment of shares is likely to be finalised on or before Monday, May 19, 2025. Shares of Accretion Pharmaceuticals will list on the NSE Emerge platform tentatively on Wednesday, May 21, 2025. ALSO READ | Kfin Technologies is the registrar of the issue. Jawa Capital Services is the sole book-running lead manager of the Accretion Pharmaceuticals IPO. Accretion Pharmaceuticals IPO GMP On Monday, the unlisted shares of Accretion Pharmaceuticals were trading flat at ₹101, the upper price band, in the grey market premium (GMP), according to sources tracking unofficial market activities. Accretion Pharmaceuticals IPO objective According to the RHP, the company aims to utilise ₹2.69 crore for capital expenditure towards the purchase of new equipment and machinery, ₹4.65 crore for the upgradation of the existing manufacturing facility. Additionally, the company plans to use ₹99.17 lakhs for repayment or prepayment of certain borrowings availed by the company and ₹14.68 crore for funding working capital requirements. The remaining funds will be used for general corporate purposes. About Accretion Pharmaceuticals Established in 2012, Accretion Pharmaceuticals is engaged in the manufacturing and marketing of tablets, capsules, oral liquid, external preparations (ointment, cream, gel, lotion, medicated shampoo, mouthwash, dusting powder), and oral powder (sachet and dry syrup( etc. Apart from manufacturing products for direct sales, the company also manufactures various pharmaceutical products for different marketers on a loan license or contract manufacturing basis. Its business is mainly carried out on a principal-to-principal basis with different marketers. Accretion Pharmaceuticals caters to multiple corporate clients on a loan licence and contract manufacturing basis. Accretion Pharmaceuticals financial overview For the nine months ended December 31, 2024, the company reported a total revenue of ₹35.75 crore and a profit after tax (PAT) of ₹5.23 crore. In the financial year 2024-25 (FY24), Accretion Pharmaceuticals reported a total income of ₹33.93 crore, up 14.9 per cent from ₹29.53 crore in the previous fiscal. Its PAT stood at ₹3.87 crore in FY25, a significant increase from ₹10.39 lakhs in FY24.
Economic Times
05-05-2025
- Business
- Economic Times
Manoj Jewellers IPO Opens May 5: Check Price, Lot Size, Financials, GMP and Listing Date
Chennai-based Manoj Jewellers is hitting the capital markets with its Rs 16.20 crore SME IPO, opening for subscription on May 5, 2025. The company will issue 30 lakh fresh equity shares at a fixed price of Rs 54 per share. The IPO is set to close on May 7 and the listing is expected on the BSE SME platform on May 12. ADVERTISEMENT Retail investors can bid for a minimum of one lot (2,000 shares), amounting to an investment of Rs 1.08 lakh, while HNIs must apply for at least two lots, totalling Rs 2.16 lakh. The issue is being led by Jawa Capital Services with Skyline Financial Services as the registrar. Shreni Shares will act as the market maker for the IPO. Manoj Jewellers is engaged in the retail business of gold and diamond jewellery, offering a wide array of BIS-hallmarked products including rings, necklaces, bangles, earrings, pendants, bracelets, and gold company operates its flagship showroom at NSC Bose Road in Sowcarpet, Chennai, targeting a mix of traditional and contemporary design preferences. ADVERTISEMENT Manoj Jewellers has built a reputation for product quality, competitive pricing, and timely delivery. Its operations are supported by a modest team of 14 employees as of April company plans to utilise the IPO proceeds primarily for repayment and prepayment of borrowings, amounting to Rs 13.23 crore, while the remaining Rs 1.67 crore will be used for general corporate purposes. This is expected to help reduce debt, improve the company's balance sheet and support working capital flexibility. ADVERTISEMENT FinancialsFor FY24, the company reported revenue of Rs 43.38 crore and a net profit of Rs 3.24 crore, up from Rs 0.62 crore in FY23. The nine-month profit as of December 2024 already stands at Rs 3.77 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
