The upcoming IPO market is not only restricted to large and well-established companies. In fact, even Small and Medium-sized Enterprises (SMEs) are permitted to issue their latest IPOs out to the public. One such new IPO from the SME sector is that of Atal Realtech Ltd. Interested to get to know the Atal Realtech IPO details? Read on to find out more.
About the company
Based in Mumbai, Atal Realtech Ltd. was incorporated only in the year 2012. The company undertakes both contracting and subcontracting of both private and government projects. The company’s service portfolio includes civil works, engineering services, structural construction, and other infrastructure services.
The company has registered itself as a contractor with the Public Works Department (PWD) of the Government of Maharashtra. Although the company has only been in existence for around 8 years, Atal Realtech Ltd. has managed to successfully complete around 20 different projects in such a short span of time.
In addition to carrying out contracting works, the company is also involved in supplying materials used for construction to its clients. Over the past three financial years, the company has consistently posted an average net profit of around 235.5 lakhs.
Atal Realtech IPO details
Now that you’re aware of the company, here’s a look at some of the important details of the Atal Realtech Ltd. IPO including the Atal Realtech IPO date and the Atal Realtech share price.
Atal Realtech IPO date
The date of opening of the Atal Realtech Ltd. IPO is set for September 30, 2020. After staying open for around 8 days, the new IPO from the company would officially come to a close on October 07, 2020.
Atal Realtech IPO issue size
Around 1,504,000 equity shares worth Rs. 10.83 crores are being planned to be issued to the public via this upcoming IPO. The issue size consists of both a ‘fresh issue’ component as well as an ‘Offer for Sale (OFS)’ component.
Around 304,000 equity shares of the company worth Rs. 2.19 crores make up the fresh issue component, while around 1,200,000 equity shares worth Rs. 8.64 crores make up the Offer for Sale component.
Atal Realtech IPO share price
Though the face value of the equity shares of the company is just Rs. 10 per equity share, the Atal Realtech share price is set at Rs. 72 per equity share. Therefore, around Rs. 62 per equity share would go to the company as share premium.
Atal Realtech IPO listing
The Atal Realtech Ltd. IPO would be listed on the National Stock Exchange (NSE) under its EMERGE platform. The company has also been accorded all the necessary approvals from the stock exchange with respect to the listing of its shares.
Atal Realtech IPO objectives
According to the final prospectus of the company, the net proceeds from the ‘fresh issue of shares’ would be used for the following objectives.
- To meet the working capital requirements of the company
- For general corporate purposes
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