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  1. Two SMEs to hit capital markets tomorrow

Two SMEs to hit capital markets tomorrow

The initial public offerings (IPOs) of Crown Lifter and Husys Consulting will open for subscription on September 9 and close on September 19, according to draft papers.

By: | New Delhi | Published: September 8, 2016 4:00 PM
The initial public offerings (IPOs) of Crown Lifter and Husys Consulting will open for subscription on September 9 and close on September 19, according to draft papers. (Reuters) The initial public offerings (IPOs) of Crown Lifter and Husys Consulting will open for subscription on September 9 and close on September 19, according to draft papers. (Reuters)

Two companies, Crown Lifter and Husys Consulting, will come out with their initial share sale tomorrow to raise around Rs 11 crore.These firms will get listed on the NSE’s small and medium enterprises platform.

The initial public offerings (IPOs) of Crown Lifter and Husys Consulting will open for subscription on September 9 and close on September 19, according to draft papers.

Crown Lifter plans to mop-up Rs 6.68 crore through its IPO, while Husys Consulting hopes to rake in Rs 4.2 crore from its initial share sale programme.

Proceeds of the issues would be utilised for expansion plans and to meet working capital requirements among others. So far in the ongoing financial year, 23 companies got listed on the SME platforms.

Of these, three firms got listed on NSE’s SME segment, while the remaining 20 got listed on small and medium enterprises platform of BSE.

NSE and BSE had launched SME platform in March 2012, becoming the only two bourses to offer such a segment in the country. Since then, several companies have got listed on them and some have even shifted to the mainboard.

The platform provides opportunity to SME entrepreneurs to raise equity capital for growth and expansion. It also provides immense opportunity for investors to identify and invest in good SMEs at an early stage.

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