Energy Mission Machineries saw its shares listed on the NSE SME platform with a premium of 165% on Thursday. The stock debuted at Rs 366, significantly higher than the issue price of Rs 138. Prior to the listing, the company’s shares traded at a GMP of Rs 140 in the unlisted market.
The IPO, which consisted of a fresh equity issue of Rs 29.82 lakh shares, received an overwhelming response from investors with an overall subscription of 320 times. Funds raised from the IPO will be used for capital expenditure towards civil construction work at existing manufacturing units, working capital requirements, and general corporate purposes.
Energy Mission designs and manufactures CNC, NC, and conventional metal forming machines to meet the industrial sector’s needs for metal fabrication solutions. Their range of machines includes press brake machines, shearing machines, plate rolling machines, iron workers machines, hydraulic presses, and busbar bending, cutting, and punching machines. These precision machines are essential for metal cutting and forming operations in various industries such as automotive, steel, furniture, and food processing.
The company offers over 600 variants of metal forming machines, catering to a diverse range of industries. India’s capital goods manufacturing industry plays a significant role in sectors like engineering, construction, infrastructure, and consumer goods. Energy Mission recorded revenues of Rs 83.4 crore and a profit after tax of Rs 6.74 crore for the period ended December 2023.