Two companies are about to launch their initial public offering (IPO) this week. These are the Concord Isolation and Control Energy Systems. After the IPO, it is proposed to list the company’s shares on the SME platform of ESB. The public offer will be available only on BSE for subscription. According to BSE data, a total of 34 IPOs have debuted on the exchange’s SME platform so far in 2022. This year, demand for listings on the SME platform has been robust compared to 27 registrations on this ESB medium in 2021.

Here is the list !

Isolation Energy IPO

The IPO will start on September 26 and will be available for subscription until September 29. The company plans to raise more than 22.16 crores via IPO. The public question is an entirely new question.

Under the new issue, the company is offering 61,56,000 shares for subscription. The price range for the IPO is set at 36 to 38 per share.

Holani Consultants acts as book running lead manager (BRLM) for the IPO.

The shares will be listed on the BSE SME platform. That said, the IPO will be available on BSE for subscription.

The company plans to use the proceeds from the issuance for working capital and general corporate purposes.

Isolation Energy has been in the solar PV module technology business for over 5 years, during which time they have developed strong engineering capabilities in the production of high efficiency PV modules. The company has successfully established a geographically diverse presence in India through an extensive distribution network of over 30 distributors.

Over the past three years, the company has delivered healthy revenue and PAT growth. His profit was 6.93 crore in FY22 against 6.89 crore in FY21 and 3.09 crores in FY20. Operating revenue jumped to 215.32 crores in FY22 against 162.69 crore in FY21 and 88.75 crores in FY20.

IPO of Concord Control Systems

Concord Control Systems is scheduled to launch its IPO on September 27 and will be available for subscription until September 29. The IPO is a purely new matter and the company plans to raise about 8.32 crores in the upper price range.

As part of the IPO, the company will offer 15,12,000 shares at a price range of 53 per share and 55 per share.

HEM Securities acts as book running lead managers (BRLM). Axis Bank is the sponsor bank of the show.

The shares will be listed on the BSE SME platform.

Proceeds from the issuance will be used for working capital requirements, general corporate purposes and to cover issuance costs.

Concord Control Systems is engaged in the manufacture and supply of coach related and electrification products for Indian Railways and other rail contractors. The company manufactures products required in railway cars like — intervehicular coupler, emergency lighting system, brushless DC carriage fan, exhaust fans, cable ducts, bellows, etc. and the products needed for electrification of cars and broad gauge network of India Railways like — 200 AH Battery Charger, 40 AH Battery Charger, Tensile Testing Machine.

As of March 31, 2022, the company’s net worth was approximately 7.54 crore from 4.95 crore in FY21 and 3.51 crore in FY20. PAT is at 2.59 crore against 1.43 crore in FY21 and 1.05 crore in FY20.

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