|
PNN
Mumbai (Maharashtra) [India], August 21: QVC Exports Limited is a provider of Ferroalloys and essential raw materials for steel manufacturing, has announced its plan to go public with an IPO on August 21, 2024, aiming to raise Rs 24.07 Crore, with shares to be listed on the NSE Emerge platform. The issue size is Up To 27, 98,400 equity shares at a face value of Rs 10 each. Equity Share Allocation * Non-Institutional Investors (NII) - Up 13, 28,000 to Equity Shares * Retail Individual Investors (RII) - Up 13, 29,600 to Equity Shares * Market Maker - Up 1, 40,800 to Equity Shares The net proceeds from the Issue will be utilized primarily for Funding of Repayment of Unsecured Loans of the company and Working Capital Requirement of the company. The issue will open for subscription on Wednesday, August 21, 2024 and closes on Friday, August 23, 2024. The Lead Manager to the Issue is Khandwala Securities Limited; The Registrar to the Issue is Cameo Corporate Services Limited. Nilesh Kumar Sharma, Chairman And Managing Director of QVC Exports Limited expressed, "This milestone represents a significant step forward in our journey and a testament to the dedication and hard work of our entire team. Over the years, we have built a unique business model that not only focuses on the procurement and sale of ferroalloys and raw materials but also emphasizes quality and reliability across the steel supply chain. Our commitment to excellence is reflected in our extensive quality control measures, including partnerships with reputed inspection agencies and adherence to rigorous ISO standards. We have established a strong international presence and a diverse client base, which highlights our capability to deliver high-quality products to markets worldwide. The IPO will mark the beginning of a new phase in our journey and enable us to further enhance our operations, expand our market reach, and invest in new opportunities that will drive future growth. " Rinav Manseta, Associate Director of Khandwala Securities Limited said, "We are delighted to be part of this significant milestone as QVC prepares for its IPO. The company's successful growth path and innovative business model in the ferroalloys and raw materials sector position it strongly within the industry. The global ferroalloys market is experiencing robust growth, driven by increasing demand from the steel manufacturing sector, advancements in technology, and a growing emphasis on quality and efficiency.QVC has demonstrated its ability to capitalize on these trends through its strategic procurement and sales approach, which not only ensures high-quality products but also fosters strong relationships across the supply chain. With strong revenue derived from international operations and a well-established client base spanning multiple countries, the company is well-positioned to leverage the expanding market opportunities. The IPO will provide a platform for the company to further its expansion plans, enhance its operational capabilities, and drive sustained growth." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
|
