Broadcast Engineers The initial public offering (IPO) is scheduled to commence on September 26 and will conclude on September 30. This offer consists entirely of a fresh sale of shares, comprising 94.05 lakh shares.
The company has announced a price range of ₹159 a ₹168 per share for its public offering, which represents ₹158 crore. Investors can bid for a minimum of 88 shares in a single lot, and can subsequently purchase more shares in multiples.
The issue is being conducted through a book-building process, which allocates 50 percent of the offering to qualified institutional buyers (QIBs) on a pro rata basis, 15 percent to non-institutional investors and 35 percent to retail investors.
The company plans to use the net proceeds from the IPO to meet capital expenditure needs for the expansion of its current manufacturing facility, the establishment of a new manufacturing facility in Hingna, working capital requirements and various other corporate purposes.
About the company
Broadcast Engineers specializes in providing engineered solutions to clients in both the domestic and international markets. With over four decades of experience, the company has expanded its range of products and services to include specialized welding consumables, wear plates and heavy engineering equipment designed for critical industries.
In addition, it offers customized repair and reconditioning services for heavy machinery and is dedicated to the marketing of anti-wear powders and welding and cutting equipment.
The company specialises in customised repair and reconditioning services for heavy machinery and equipment. In addition to its core services, Diffusion Engineers also deals in the marketing of anti-wear powders as well as welding and cutting machinery.
In fiscal year 2024, the company’s consolidated operating income grew by 10 percent compared to the previous year, reaching ₹285 crore. This growth was mainly due to higher revenues from welding consumables, wear plates and trading activities. In addition, net profit for the same period increased by 39% year-on-year to Rs 10 crore. ₹30.8 crore rupees.
Unistone Capital is acting as the exclusive lead manager for the issue, while Bigshare Services is acting as the registrar for the offer. The equity shares will be listed on both the BSE and NSE.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.