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PNN
Mumbai (Maharashtra) [India], December 11: Supreme Facility Management Limited specializing in comprehensive Integrated Facilities Management and Support Services, proposes to open its Initial Public Offering on Wednesday, December 11, 2024, aiming to raise Rs 50 Crore (at upper end of price band), with shares to be listed on the NSE Emerge platform. The issue size is Up To 65,79,200 equity shares at a face value of Rs 10 each with a price band of Rs 72 - Rs 76 Per Share. Equity Share Allocation * Qualified Institutional Buyer - Not More Than 6,25,600Equity Shares * Non-Institutional Investors - Not Less Than 28,11,200Equity Shares * Retail Individual Investors - Not Less Than 28,12,800Equity Shares * Market Maker - Up To 3,29,600 Equity Shares The net proceeds from the IPO will be utilized for Fundingworking capital requirements, Pursue inorganic initiativesthrough strategic acquisitions of high margin businesses supplemental to company's operations and general corporate purposes. The issue will close on Friday, December 13, 2024. The Book Running Lead Manager to the Issue is Khandwala Securities Limited, The Registrar to the Issue is KFin Technologies Limited. Amol Shingate, CEO & Director, of Supreme Facility Management Limited said, "It is with great enthusiasm that we announce our upcoming IPO. We are pleased to share with you the ongoing growth and success of Supreme Facility. As provider of Integrated Facilities Management (IFM) and support services, we remain committed to delivering exceptional value to our clients across various industries. The proceeds from this IPO will play a crucial role in strengthening our financial position by funding our working capital requirements. This will allow us to better manage our day-to-day operations, ensuring that we continue to deliver exceptional value to our clients across diverse industries. Additionally, the funds will support our efforts to pursue inorganic growth opportunities, allowing us to further expand our service offerings and market presence." Rinav Manseta Associate Director of Khandwala Securities Limited said, "We are pleased to be associated with the upcoming IPO of Supreme Facility Management Limited, is engaged in the Integrated Facilities Management and support services industry. As the IFM industry experiences rapid growth, driven by increasing demand for streamlined and professional facility management solutions, the company is well-positioned to capitalize on this momentum. We are confident that this initiative will drive the company's expansion into new markets, strengthen its capabilities, and further integrate its growth with the ever-evolving demands of the industry." (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)
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