&w=3840&q=100)
Patil Automation shares list at 29% premium, outperform IPO GMP forecasts
With this listing, the investors who were allotted the company's shares during the IPO made a profit of ₹35 per share or ₹42,000 per lot (1,200 shares).
Patil Automation IPO listing outperformed the the grey market estimates. Ahead of their market debut, the unlisted shares of Patil Automation were quoted trading at ₹151 per share, reflecting a grey market premium (GMP) of 25.83 per cent over the issue price.
Patil Automation IPO
Patil Automation IPO, valued at around ₹69.61 crore, comprises entirely a fresh issue of 5.80 million shares with no offer for sale (OFS) component. The issue was available from 16 June till 18 June, with a price band of ₹114–120 apiece and a lot size of 1,200 shares.
Patil Automation IPO received an overwhelming response from investors, getting oversubscribed by 101.4 times. The company set the issue price at ₹120 per share.
Patil Automation will utilise the proceeds from the public offering for funding capital expenditure towards setting up a new manufacturing facility and repayment of a portion of certain borrowings availed by the company. The company will also use the proceeds for general corporate purposes.
Purva Sharegistry India serves as the registrar for the public issue of Patil Automation, while Seren Capital acted as the sole book-running lead manager.
About Patil Automation
Established in 2015, Patil Automation specialises in welding and line automation solutions. The company has five operational facilities across India, including two in Pune, and offers comprehensive automation services. Patil Automation designs, manufactures, and installs customised automation systems, including robotic welding, assembly lines, and special-purpose machinery. The company's product portfolio includes robotic welding systems, spot welding systems, and automated assembly lines.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 hours ago
- Time of India
Virgin plane collides with ground vehicle at Melbourne airport during tow for maintenance, no injuries reported
A Virgin Australia Boeing 737 aircraft was damaged on Sunday night, JUly 27 after colliding with a ground vehicle at Melbourne Airport in Tullamarine. The incident occurred while the plane was being towed to a maintenance hangar. According to Virgin Australia and airport officials, the aircraft became disconnected from the tug during the transfer, leading the vehicle to strike the side of the plane, as reported by the Canberra Times. The collision left a visible tear several metres long along the aircraft's fuselage. Explore courses from Top Institutes in Please select course: Select a Course Category Degree Management CXO Cybersecurity Digital Marketing Public Policy Project Management Data Science Technology Others PGDM Product Management Leadership Finance Design Thinking MCA Data Science Data Analytics Operations Management MBA Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details Also Read: WWII vet who married at 100 in Normandy, plans Bar Mitzvah at 103 at the Pentagon; still chasing dreams 81 years after D-Day After the incident, airport crews were seen on-site attempting to patch the damage. There were no passengers on board at the time, and no injuries were reported. Live Events No disruption to flights Virgin Australia confirmed that the damaged aircraft was not scheduled for passenger service and that the incident would not impact Monday's flight operations. The Boeing 737 model involved is typically used for domestic routes. A spokesperson for Melbourne Airport told NewsWire, 'An investigation is under way, and the relevant authorities have been notified.' What caused the Virgin plane crash at Melbourne Airport? The collision was caused when the Virgin Australia aircraft became disconnected from the tug vehicle while being towed to the maintenance hangar. This disconnection led the tug to impact the side of the plane, resulting in a large gash in the aircraft's fuselage. This information was confirmed by Virgin Australia and Melbourne Airport officials. The exact reason behind the disconnection is still under investigation. FAQs Were there passengers on board the Virgin Australia aircraft during the collision? No, the plane was being moved for maintenance and had no passengers on board at the time of the incident. Will the Virgin Australia collision affect flight schedules? Virgin Australia confirmed that the incident will not impact any scheduled flights, and operations remain unaffected. Economic Times WhatsApp channel )
Hindustan Times
2 days ago
- Hindustan Times
MLB trade deadline: Eugenio Suárez, Mitch Keller, Seth Lugo among prized players who could move
PHOENIX (AP) — The Arizona Diamondbacks got the trade deadline party started on Thursday night when they dealt 2024 All-Star Josh Naylor to the Seattle Mariners for two pitching prospects. HT Image That probably won't be the last time the D-backs make news before the July 31 deadline. Arizona has had a disappointing season with a 50-53 record and now appears to be one of the most active sellers on the MLB market, dangling third baseman Eugenio Suárez and starting pitchers Zac Gallen and Merrill Kelly. The potential buyers include teams like the New York Yankees, New York Mets, Detroit Tigers, Philadelphia Phillies, Chicago Cubs and Los Angeles Dodgers, who are all trying to beef up their rosters in hopes of a deep playoff run. The market is heating up quickly: The Yankees acquired third baseman Ryan McMahon from the Rockies on Friday while the Mets added left-handed reliever Gregory Soto from the Orioles. The D-backs have been one of the most intriguing teams in baseball over the past few weeks because management has had to make a tough decision whether to buy or sell. Arizona had a 50-50 record after sweeping the St. Louis Cardinals following the All-Star break but were then swept by the Houston Astros. Those three losses appeared to seal their fate as sellers — though Arizona general manager Mike Hazen said he's still open to changing course. 'I want to see this team to continue to go out there and play,' Hazen said. 'I haven't decided what it's going to look like, honestly. I'm open-minded to a number of different things. ... Quite frankly, we're listening to what people have to say and what people have to offer and we're going to do what's best for the long term for this organization.' Naylor's already gone and he'll help a Seattle lineup that could use a little more punch. Suárez is having one of the best seasons of his career, slugging 36 homers over 101 games, and is arguably the best bat on the market. Here's a look at some of the top players who could be available as teams try to upgrade for the stretch run: Suarez is just an average defensive third baseman these days, but that's not why teams want to acquire him. He's got the kind of bat that can carry a team for weeks at a time, major pop from the right side of the plate. He has 312 career homers, is well-liked in the locker room and has been productive in limited postseason at-bats with a .300 average. The 29-year-old Keller has been overshadowed in the Pirates' rotation thanks to the emergence of young star Paul Skenes, but the right-hander has been a reliable starter for the past four seasons and was an All-Star in 2023. The one catch is it'll take a sizable haul for the Pirates to make a deal: He's under contract through 2028 as part of a relatively reasonable $77 million, five-year deal. Lugo has thrived in Kanas City over the past three seasons, moving to the starting rotation from the bullpen and providing consistent results. The 2024 All-Star has a 7-5 record with a 2.95 ERA over 19 starts this year. Gallen is having the worst full season of his career with a 7-11 record and 5.58 ERA but could still be an attractive add for a team that needs a starter. The 29-year-old right-hander has been one of the top pitchers in the National League over the past five years, finishing in the top 10 of the Cy Young voting in 2020, 2022 and 2023. His stuff is still good and he's had a handful of dominant starts this season. The 36-year-old righty has quietly been one of the most consistent pitchers in baseball with a 9-5 record and 3.32 ERA. He was also excellent during the D-backs' postseason run in 2023 with a 3-1 record, 2.25 ERA and 28 strikeouts over 24 innings. Kelly doesn't have an overpowering fastball but has a five-pitch mix that has consistently delivered results. The 29-year-old Alcantara isn't the same pitcher he was when he won the 2022 NL Cy Young Award, but the right-hander still has quite a bit of upside. He gave up just one unearned run over seven innings in a win against the Padres on Wednesday, which might help his value. His rotation partner Edward Cabrera — another right-hander — could also garner attention with a 3.48 ERA over 17 starts. The 31-year-old is having a career year with a .281 average, .375 on-base percentage and 14 homers, helping him earn All-Star honors for the first time in his career. His left-handed bat would be useful in a contender's lineup. ___ AP MLB:
Economic Times
3 days ago
- Economic Times
Sellowrap Industries IPO opens today; Check all details here
Sellowrap Industries launches its Rs 30.28 crore IPO today, priced at Rs 79-83 per share, aiming for NSE SME listing on August 1. Synopsis Sellowrap Industries is launching its initial public offering today. The IPO aims to raise funds for expansion and working capital. The price band is Rs 79-83 per share. The IPO will remain open until July 29. Listing on NSE SME is scheduled for August 1. The company manufactures auto parts and supplies to domestic and global markets. Auto parts maker Sellowrap Industries will open its Rs 30.28 crore IPO today with a price band of Rs 79–83 per share. The issue is entirely a fresh issue of 36.48 lakh equity shares and will close on July 29. Listing is slated for August 1 on NSE SME. ADVERTISEMENT The lot size is 1,600 shares, requiring a minimum investment of Rs 2,65,600 for retail investors. The IPO is witnessing modest demand in the unofficial market, with a grey market premium (GMP) of around Rs 14, implying a potential 17% listing gain. Proceeds from the fresh issue will be used for capital expenditure towards purchase of plant and machinery, infrastructure development and other auxiliary equipment. The funds will also be deployed for funding the working capital requirements of the company and general corporate purposes. Sellowrap, founded in 1983, manufactures plastic injection moulding parts, PU foam mouldings, labels, and sealing components for the automotive and white goods company has four manufacturing facilities in Gurugram, Pune, Ranipet, and Kancheepuram and supplies to marquee OEMs domestically and globally. It exports to Brazil, Germany, the UK, and other key markets. ADVERTISEMENT In FY25, the company clocked a revenue of Rs 163.3 crore, up 17% YoY, and net profit grew 68% to Rs 9.97 crore. Gretex Corporate Services is the book-running lead manager of the Sellowrap Industries IPO, while Purva Sharegistry India is the registrar. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
