Falcon Technoprojects India Ltd's SME IPO: Aiming High on NSE Emerge

Falcon Technoprojects India Ltd is set to raise up to Rs. 13.69 crore through an SME public issue on the NSE Emerge Platform. Open from June 19 to June 21, the funds will support the company's working capital and general corporate purposes. Kfin Technologies Ltd is the lead manager.

Mumbai (Maharashtra) [India], June 17 – Falcon Technoprojects India Ltd, a Mumbai-based provider of mechanical, electrical, and plumbing services, has announced plans to raise up to Rs. 13.69 crore through an SME public issue on the NSE Emerge Platform. The issue will open for subscription from June 19 to June 21.

Funds from the public issue will be allocated towards expanding the company's working capital and covering general corporate purposes. Kfin Technologies Ltd is managing the lead of the issue. The company is set to issue 14.88 lakh equity shares at Rs. 92 per share, with a minimum lot size of 1200 shares per application.

For the first 10 months of FY23-24, Falcon Technoprojects reported revenues of Rs. 10.36 crore and a net profit of Rs. 87 lakh. Established in 2014, the company's client portfolio includes significant names such as BARC, BPCL, and Tata Housing.

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