GMP IPO to open on 11th March
The first IPO of GMP Projects Limited is set to open on 11th March. Investors can bid in the IPO until 13th March. The IPO size is Rs. 36 crore. The company was established in 2014 and provides services to oil and gas consumers in India. First EPC Projects Limited operates gas pipeline projects, including welding, testing, and commissioning.
Pricing and Details
The price range for the GMP IPO is set at Rs. 71-75 per share. The IPO will issue 48 lakh new shares, with a lot size of 1,600 shares. Retail investors need to invest a minimum of Rs. 120,000. The company’s shares will be listed on the NSE SME platform on 18th March after the IPO closes.
Key Players
The lead manager for the IPO is Beline Capital Advisors Private Limited, and the registrar is Link Intime India Private Limited. Market maker Spread X Securities is also involved. The promoters of First EPC Projects are Nayan Kumar Manubhai Pansuria and Pratik Kumar Magnalal Vekariya, who currently hold 100% ownership of the company.
Grey Market Premium
The GMP IPO is currently trading in the grey market at a premium of Rs. 65. This means that the shares are trading at a premium of 87% compared to the IPO price of Rs. 75. The expected listing price is Rs. 140.
Financial Performance
During April-September 2023, the company generated revenue of approximately Rs. 36 crore and a net profit of Rs. 5.23 crore. In FY23, revenue from First EPC Projects increased by 2% year-on-year to Rs. 51.67 crore, while net profit grew by 73.14% to Rs. 7.64 crore on an annual basis.
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