The counter hit a high of Rs 122.40 and a low of Rs 120. About 6.74 lakh shares of the company changed hands at the counter.
Royal Arc Electrodes' IPO was subscribed 1.11 times. The issue opened on 14 February 2025 and it closed on 18 February 2025. The price band of the IPO was set at Rs 114 to 120 per share.
The IPO comprised a fresh issue of 18,00,000 shares and an offer for sale of 12,00,000 equity shares. The company intends to utilize the net proceeds towards the expansion of the existing manufacturing facility situated at Village Zaroli, Umbergaon Valsad, Gujarat, to meet the working capital requirements and general corporate purposes.
Ahead of the IPO, Royal Arc Electrodes on 13 February 2025, raised Rs 10.08 crore from anchor investors. The board allotted 8.40 lakh shares at Rs 120 per share to 4 anchor investor.
Royal Arc is engaged in the business of manufacturing of welding electrodes, flux cored wires, MIG/TIG wires which finds its application in the welding of tanks, boilers, heavy structures, beams, pipes, cylinders, pressure vessels, etc. which are used in industries like railways, roadways, airport infrastructure, refineries, shipyards, mines, sugar industries, telecom industries, thermal power stations, PEB sectors. As on December 31, 2024, the company had 144 employees including skilled and unskilled labour, administrative staff and management team.
The company recorded revenue from operations of Rs 45.60 crore and net profit of Rs 3.17 crore for the period as on 30th September 2024.
0 mins read . Dec 18, 2024
0 mins read . Dec 18, 2024
0 mins read . Dec 18, 2024
