Pratham IPO debut makes good high gains in two days

Pratham EPC Projects made a stunning debut on NSE SME today as of recent provisional data of (March 18) as the share price opened at ?113.30- 51.07% higher than the issue price of ?75.

Pratham IPO debut makes good high gains in two days

The initial public offering (IPO) was available for subscription from March 11 to March 13. The shares were priced in the range of Rs 71 to Rs 75 per share, with a lot size of 1,600 shares. Investors could bid for a minimum of 1,600 shares and in multiples thereof.

The IPO is worth Rs 36 crore and consists of a fresh issue of 4,800,000 equity shares. The face value of each share is Rs 10 and there is no offer-for-sale component included in this. It is entirely a fresh issue. Earlier, ahead of the IPO, Pratham EPC Projects on 7 March 2024, raised Rs 10.24 crore from anchor investors. The company board allotted 13.66 lakh shares at Rs 75 per share to 7 anchor investors.

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Pratham EPC Project is a company in India that offers comprehensive services to oil and gas utilities. The company specializes in integrated engineering, procurement, construction, and commissioning. Their main focus is on gas pipeline projects which include welding, testing, and commissioning, as well as oil and gas pipelines and offshore water distribution projects. They handle tendering and project management. Established in 2014, Pratham EPC Project has completed over 12 projects. Their largest project amounted to approximately ?13,184.10 lakhs.

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