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PNN
New Delhi [India], February 24: Beezaasan Explotech Limited has announced its plan to go public with an Initial Public Offering (IPO) from 21st February 2025 to 25th February 2025, aiming to raise up to Rs.59.93 Crores with shares to be listed on the BSE SME platform. The Issue is up to 34.25 Lakh equity shares at a face value of Rs. 10/- each. IPO Details IPO Reservation Objects of the Issue The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects: 1. Funding the Capital expenditure towards civil construction required for the Expansion of the existing manufacturing unit for the Emulsion Explosive-3 Plant, Emulsion Bulk Explosive Plant and Detonating Fuse Plant at the existing Manufacturing facility situated at Bhanthala, Mahisagar, Gujarat; 2. Funding of Capital expenditure towards the purchase of Plant and machinery for Expansion of existing manufacturing unit for the Emulsion Explosive-3 Plant, Emulsion Bulk Explosive Plant and Detonating Fuse Plant at the existing Manufacturing facility situated at Bhanthala, Mahisagar, Gujarat; 3. Funding of capital expenditure towards civil construction is required for the expansion of an additional magazine (Storage) facility for the emulsion cartridge explosives and detonating fuse at the existing location situated at Felsani, Gujarat; 4. Purchase of Commercial Vehicle; 5. Repayment/prepayment of all or certain of the borrowings availed of by the Company 6. General corporate purposes. The IPO is solely lead-managed by Smart Horizon Capital Advisors Pvt. Ltd., and Kfin Technologies Limited is the registrar of the issue. Rikhav Securities Ltd., is the Market Maker for the company and Shreni Shares Limited is the syndicate member. Mr. Navneetkumar Radheshyam Somani, Chairman and Managing Director of the Company, said, "We see this as an opportunity to not only grow the company but also contribute to a more sustainable future. We are excited about this new phase of development and are grateful to BSE for offering us the SME platform to list our Company". About Beezaasan Explotech Limited Incorporated in August 2013, Beezaasan Explotech Limited manufactures and supplies a comprehensive range of explosives and explosive accessories. It primarily produces cartridge explosives, including slurry, emulsion, and detonating explosives. The company is primarily involved in the manufacturing of explosives and explosives accessories used in the cement, mining, and defence industries. The company focuses on producing high-quality cartridge explosives, which include slurry explosives, emulsion explosives, and detonating explosives. The company's manufacturing facility is situated in Gujrat. The company's explosive manufacturing units hold multiple quality certifications, including ISO 9001:2015 for Quality Management Systems, ISO 14001:2015 for Environmental Management, and ISO 45001:2018 for Occupational Health and Safety Management. The company's product portfolio consists of chemical explosives. Financials As per Restated Financial Information Our revenue from operations for the six months ended September 30, 2024, and for the Financial Years 2024, 2023 and 2022 amounted to Rs. 10,068.72 Lakhs, Rs. 18,635.85 Lakhs, Rs. 22,791.80 Lakhs and Rs. 14,094.90 Lakhs respectively. Our EBITDA for the six months ended September 30, 2024, and for the Financial Years 2024, 2023 and 2022 was Rs. 1,340.31 Lakhs, Rs. 1,057.21 Lakhs, Rs. 785.40 Lakhs and Rs. 577.63 Lakhs respectively. Our restated profit after tax for the six months ended September 30, 2024, and for the Financial Years 2024, 2023 and 2022 was Rs.832.86 Lakhs, Rs. 486.62 Lakhs, Rs. 293.57 Lakhs and Rs. 274.25 Lakhs respectively. Disclaimer Certain statements in this document that are not historical facts are forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. (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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