Presstonic Engineering IPO Subscription Opens on 11 December 2019 for Target Stock

Presstonic Engineering IPO: All You Need to Know

🚀 Presstonic Engineering, a leading manufacturer of metro rail rolling stock and signaling systems, has opened its IPO (Initial Public Offering) for subscription on 11th December 2019. Investors can invest in the IPO until 13th December.

📊 The company has set a price band of ₹72 per share for the IPO, with an aim to raise ₹233 crore through this offering. The IPO is listed on the NSE (National Stock Exchange) and SME (Small and Medium Enterprise) platforms.

📈 Under the IPO, a total of 3.237 million new shares will be issued. The lot size for Presstonic Engineering IPO is fixed at 1,600 shares, meaning investors can bid for a minimum of 1,600 shares and in multiples thereafter. Based on the upper price range, retail investors will need to invest a minimum of ₹115,200.

👥 The company is promoted by Yermal Giridhar Rao and Harga Purnachandra Kedilya. The funds raised through the IPO will be used for capital expenditure, including the purchase of equipment and machinery. It will also be utilized for working capital requirements, loan repayment, and general corporate purposes.

💼 Finshore Management Services Limited is the lead manager for the Presstonic Engineering IPO, while the registrar is Karvy Corporate Services Limited. Nirmal Bang is the market maker for the IPO.

📅 As per the IPO schedule, successful investors will be allotted shares on 14th December. The refund process for unsuccessful investors will begin on 15th December. The shares of the company will be listed on the NSE SME platform on 18th December.

🏭 Presstonic Engineering manufactures metro rail rolling stock, metro rail signaling systems, and basic infrastructure products. It supplies these products to renowned global and domestic manufacturers of rail and metro rolling stock, as well as for the manufacturing and servicing of signaling equipment.

📈 The company has an order book of ₹639 crore until 31st March 2023. Additionally, it has been awarded an additional order of ₹457 crore from 1st April 2023.

So, if you’re looking to invest in a promising engineering company in the metro rail sector, the Presstonic Engineering IPO could be the right opportunity for you. Don’t miss out on this chance to be a part of their growth story! 📈🚀

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