National Stock Exchange listed Perfect Infraengineers on Friday on its SME platform. Significantly, Small Industries Development Bank of India (SIDBI) is one of the merchant banker of the issue. It is for the first time that SIDBI is acting as a merchant banker in the exchange traded SME space. SIDBI is the principal financial institution for the promotion, financing and development of the Micro, Small and Medium Enterprise sector and for co-ordination of the functions of the institutions engaged in similar activities.
Perfect Infraengineers will be the 32nd company overall to list on EMERGE platform of NSE (IPO and ITP included).
Ravi Varanasi, chief – business development, NSE, said, “Response from SME segment has so far been encouraging. Since NSE encourages high level of corporate governance, many are at different stages of evaluation and will be listed soon, like Perfect Infraengineers.”
As per the information received from the company, it was incorporated in May, 1996. Perfect Infraengineers is engaged in the business of air conditioners and providing all inclusive maintenance services to multinational and other Indian corporate.
Later during 2006-07, they diversified and expanded activities and started providing turnkey jobs of Heating Ventilation and Air Conditioning (HVAC).
Its consolidated total revenue from continuing operations increased from about Rs 197 million in fiscal 2013 to Rs 255 million in fiscal 2015.
Its consolidated restated profits after tax from continuing operations increased from Rs 7.09 million in fiscal 2013 to Rs 15.64 million in fiscal 2015. The company entered capital market with its maiden initial public offering (IPO) of 25,08,000 equity shares of face value of Rs 10/- aggregating to Rs 5.77 crores. The issue was opened for subscription from Oct 30, 2015 and closed on Nov 04, 2015. Beside SIDBI the other merchant banker to the issue was Keynote Corporate Services Limited.