The details of Essen Speciality Films Limited’s initial public offering are available here

The subscription period for Essen Speciality Films Limited’s initial public offering (IPO) begins on June 23 and ends on June 27. The business anticipates that the current offering of equity in the main market would bring in close to Rs 66 crore.

A Small and Medium Enterprise (SME) IPO making its debut on Nifty SME is Essen Speciality IPO. The business, which was founded in 2002, specializes in creating plastic goods with a low environmental impact.

Up to 61.992 lakh equity shares are part of Essen Speciality Films Ltd.’s IPO, which has a value of Rs 66.33 crore. The pricing range for the shares is between Rs. 101 and Rs. 107.

Only bids in lots of 1,200 shares or more are permitted for this issuance, requiring a minimum investment in the IPO of Rs 128,400 at the top of the price range of Rs 107 per share.

According to the terms and circumstances of the offer, qualified institutional investors (QIBs) would get 50% of the net offer, non-institutional investors (15%), and retail investors (35%). The closing price will be established via the book building procedure for the issue, which is a book built with a price range.

The market maker for the first public offering of Essen Specialty Films Ltd. will be SMC Global Securities Ltd. The market maker will get 310,800 shares from the corporation.

On July 3, the allocation methodology will be resolved. The start of refunds is July 4. The stock is slated to float on the NSE Small and Medium Enterprises sector on July 6; demat credits are anticipated to start on July 5.

In contrast to the mainboard, where IPOs of small and medium-sized businesses (SMEs) are cultivated, the NSE SME section is the segment.

The trading of the grey market price (GMP) begins roughly 4-5 days before the commencement of the IPO and lasts until the listing day.

According to IPOWatch, on June 22 Essen Speciality Films shares were offered on the black market at a premium price of Rs 40.