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Showing posts from March, 2018

Karda Constructions receives good investor response, IPO subscribes 2.54 times

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The initial public offer (IPO) of Karda Constructions Limited, a Nasik based Karda Group Company, engaged in construction of residential complexes and infrastructure projects,  received good investor response despite negative sentiments in the equity markets. The IPO which was opened subscription from 16 March to 21 March 2018  to raise up to Rs. 77.40 crores, was oversubscribed by 2.54 times as per NSE Data on the last day.The issue received bids for 10908560 shares against the total issue size of 43,00,000 shares,  The QIB portion was subscribed 1.55 times while NII (non-institutional investors) category got 3.44 times subscription. RII (retail institutional investors) was subscribed 2.01 times.
The issue comprises fresh issue of 23 lakh equity shares and offer for sale (OFS) of 20 lakh equity shares by the promoters. The price band for the issue has been fixed at Rs 175 to Rs 180 per share.
The shares of the company will list on BSE and NSE. The sole lead manager to this issue is Ary…

Karda Constructions Ltd IPO opens for subscription

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Price band fixed between Rs. 175 to 180 per equity share
Karda Constructions Limited, a Nasik based Karda Group Company, engaged in construction of residential complexes and infrastructure projects, proposes to open its initial public offer (IPO) of 43,00,000 equity shares at a price band of Rs. 175/- to 180/- on Friday 16 March 2018. The issue comprises Offer for Sale of up to 20, 00,000 Equity Shares and fresh issue of up to 23, 00,000 Equity Shares, aggregating up to Rs. 77.40 crores. (at the upper price band).
The shares of the company will list on BSE and NSE. The sole lead manager to this issue is Aryaman Financial Services Limited and Registrars to the issue is Bigshare Services Private Limited.


Mr. Naresh Karda, Chairman and Managing Director of Karda Constructions Limited, said “The proceeds from the fresh issue will be utilised towards reduction of debt, working capital requirements and issue expenses. Our company has availed certain credit facilities from different banks as w…

Ice Make launches low cost- solar powered- Cold Room for farmers

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Ice Make Refrigeration Limited (Ice Make), one of the leading manufacturer & supplier of cooling solutions equipment, has launched an economically viable solar powered cold storage unit for interior areas where proper storage temperature and adequate infrastructure is not available due to non -availability of regular power. The Company is expecting good response for the eco- friendly and energy efficient solar cold room.
Mr Chandrakant P. Patel, CMD, Ice Make Refrigeration Limited said “In line with the vision of Prime Minister Narendra Modi to transform agriculture sector and double the farmer’s income, Ice Make has successfully developed its first portable solar based Cold Storage Room with in- house technology, design and capability.  Customised for the rural and semi urban requirements, the product is economically viable and beneficial for the farmers and other users in the supply chain.  The cold room unit with a storage space of about 4-5 metric ton and costing around Rs 11-1…

Hindcon Chemicals Ltd Shares List at the NSE Emerge

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Script lists at 20% premium IPO subscribed 132 times The Equity Shares of Hindcon Chemicals Ltd, engaged in manufacturing wide range of chemical products, listed today at the NSE Emerge Platform. The script made a strong debut and surged 20 percent, post the listing. Stock opened at Rs 33.60 against the IPO price of Rs 28 a share.
The public issue which was open for subscription from 26 February to 28 February 2018 raised 7.73 Cr through offering 27, 60,000 Equity Shares of face value of Rs. 10 each for cash at price of Rs. 28 per Equity Share.The net proceeds from the IPO will be utilized for meeting working capital requirements, general corporate and issue expenses.
Mr. Sanjay Goenka, Managing Director and Promoter,Hindcon Chemicals Ltdsaid, “Having a company listed is significant milestone and we as a group are elated to have received such an overwhelming response to our maiden IPO. We thank all our investors and merchant banker for the support in making our IPO exceedingly successful…

Hindcon Chemicals Ltd IPO subscribes 132 times

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The initial public offer (IPO) of Hindcon Chemicals Ltd, engaged in manufacturing wide range of chemical products, received overwhelming response on the last day procuring subscription amount of over Rs 1022 crore as the issue overall subscribed 132.29 times. The HNI and Retail portion subscribed 154.85 and 124.18 times respectively. The public issue which was open for subscription from 26 February to 28 February 2018 at the NSE Emerge platform raised 7.73 Cr through offering 27, 60,000 Equity Shares of face value of Rs. 10 each for cash at price of Rs. 28 per Equity Share.The net proceeds from the IPO will be utilized for meeting working capital requirements, general corporate and issue expenses.


Hindcon Chemicals, incorporated in 1998, has been in the business of construction chemicals for the last 20 years. The Company has over 100 products in its portfolio with main foray into sodium silicate, waterproofing additives, plasticizers etc. The Company has its manufacturing facility loc…