The price band for the New Swan Multitech IPO has been set at ₹62 to ₹66 per share, according to market experts. The subscription for the IPO will open on Thursday, January 11, and close on Monday, January 15. The lot size for the New Swan Multitech IPO is 2,000 shares, and investors can bid for a minimum of 2,000 shares, with further subscriptions in multiples of this lot size.
The IPO has reserved not more than 50% of the shares for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and not less than 35% for Retail Investors. New Swan Multitech Limited specializes in producing precision-engineered parts and components for the modern farming and automobile industries.
The company offers a diverse range of automotive products, including engine hangers, hinge body covers, fuel filler cap components, front cover stay components, main stand complete assemblies, engine guard plates, rear brake arm assemblies, separator breathers, cable guide assemblies, battery tray components, and various other essential parts for two-wheeler vehicles.
The basis of allotment for New Swan Multitech IPO shares is tentatively scheduled to be finalized on Tuesday, January 16. Refunds are expected to commence on Wednesday, January 17, with shares credited to the demat accounts of allottees on the same day. New Swan Multitech shares are anticipated to be listed on BSE SME on Thursday, January 18. According to the company’s draft red herring prospectus (DRHP), its listed peers include Sansera Engineering Limited (with a P/E of 34.62), Endurance Technologies Limited (with a P/E of 47.03), and JBM Auto Limited (with a P/E of 135.69).
For the fiscal years ending on March 31, 2022, and March 31, 2023, New Swan Multitech Limited reported a 4.05% increase in revenue and a 173.15% increase in profit after tax (PAT).
**Key Details of New Swan Multitech IPO:**
– IPO Size: ₹33.11 crore (Entirely a fresh issue of 5,016,000 equity shares with no Offer for Sale – OFS component)
– IPO Dates: January 11, 2024, to January 15, 2024
– IPO Price Band: ₹62 to ₹66 per share
– Lot Size: 2,000 Shares
– Listing Date: January 18, 2024, on BSE SME
**Use of Net Proceeds:**
The net proceeds from the IPO are proposed to be used for funding capital expenditures, repaying certain borrowings, meeting working capital requirements, and general corporate purposes.
**Promoters:**
The promoters of New Swan Multitech are Kanwardeep Singh, Upkar Singh, and Barunpreet Singh Ahuja.
**Registrar and Lead Managers:**
Bigshare Services Pvt Ltd is the registrar for the New Swan Multitech IPO, and the book-running lead managers are Hem Securities Limited and Share India Capital Services Private Limited.
**Grey Market Premium (GMP):**
As per the latest information, the Grey Market Premium for New Swan Multitech IPO was ₹0, suggesting that shares were trading at their issue price of ₹66 with no premium or discount in the grey market, as reported by investorgain.com. The “Grey Market Premium” reflects investors’ willingness to pay more than the issue price.
