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PNN
Mumbai (Maharashtra) [India], April 17: Faalcon Concepts Limited, a one of the leading facade systems company headquartered in Gurugram, Haryana, has announced its plan to go public with an Initial Public Offering (IPO) on April 19, 2024. The company is aiming to raise Rs 12.09 Crore at the price of Rs 62 per share through this IPO, with shares set to be listed on the BSE SME platform. The issue size is Up to 19,50,000 equity shares at face value of Rs 10 each. Equity Share Allocation * Non-Institutional Investors (NII) - Up To 9,26,000Equity Shares * Retail Individual Investors (RII) - Up To 9,26,000 Equity Shares * Market Maker - Up To 98,000 Equity Shares The net proceeds from the IPO will be utilized to finance the capital expenditure for the purchase of facade structural equipment, meet the requirements of working capital, and cover general corporate expenses. The Issue closes on 23rd April 2024. The Lead Manager to the Issue is Navigant Corporate Advisors Limited. The Registrar to the Issue is Beetal Financial & Computer Services Private Limited. Ekta Seth, Chairperson and Managing Director ofFaalcon Concepts Limited expressed, "I am pleased to announce that Faalcon Concepts Limited is going public. We have always been committed to revolutionizing the facade systems sector. Our unwavering commitment to excellence and cutting-edge technology has pushed us to the forefront of architectural innovation. From complex glazing/curtain walls to sustainable aluminum doors and windows, every Faalcon product exemplifies our unwavering pursuit of perfection. The net proceeds from the IPO will be allocated towards ourstrategic avenues, including financing capital expenditure for the acquisition of facade structural equipment, fulfilling working capital requirements, and addressing general corporate expenses. The proceeds from this offering will catalyze our expansion efforts, fueling our mission to create iconic structures that inspire generations to come." Sarthak Vijlani, Managing Director of Navigant Corporate Advisors Limited said, "We are deeply honoured to play a pivotal role in this historic event. The prudent allocation of net proceeds towards Faalcon's strategic initiatives underscores their dedication to sustainable growth. I extend my heartfelt wishes for Faalcon's continued success as they embark on this exciting chapter of growth and expansion." (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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