The initial public offering (IPO) by Shubhshree Biofuels Energy is a greenfield issue of 13.92 lakh shares. The company had set a price band of Rs 113-119 per share.
The company intends to use the proceeds from the IPO to fund capital expenditure for the installation of additional plants and machinery, to meet the working capital requirements and general purpose of the company.
Jaipur-based Shubhshree Biofuels Energy, established in 2013, supplies biomass fuels including biomass pellets and briquettes to customers operating in the recycled materials, textile processing, pharmaceutical, metallurgical, etc. sectors.
Meanwhile, Aditya Ultra Steel’s Rs 45.88 crore IPO was subscribed 10.22 times on the last day of offering.
This was a greenfield issue of 74 lakh shares. The company had set a price range of Rs 59 to Rs 62 per share. Aditya Ultra Steel Ltd, established in 2011, manufactures rolled steel products i.e. TMT bars under the brand name ‘Kamdhenu’. The company manufactures TMT bars from billets in a reheating furnace and rolling mill, primarily for the construction industry and infrastructure development.
Furthermore, the IPO of Gajanand International Ltd. was subscribed 14.28 times on the closing day of the offer.
The issue was completely fresh and 57.36 lakh shares were issued at a price of Rs 36 each.
Established in 2009, Gajanand International Ltd, formerly known as Gajanand Cottex Pvt Ltd, is engaged in the production of sustainable and pollution-free cotton.
Shares of these companies will be listed on the NSE’s Emerge SME platform.
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