The IPO is beginning today and the subscription window is likely to shut down completely on September 30, with the IPO allotment fixed for October 01, 2024.
In an effort to raise more capital expenditure and working capital to expand and strengthen the newly formed semiconductor packaging unit in Rajasthan, India’s Electronics Manufacturing Services (EMS) firm Sahasra Electronics is now looking forward to putting Rs 186 Crore via Initial Public Offering (IPO).
Founded in 2000, the company has grown exponentially over the years, says Amirt Manwani, managing director of Sahasra Electronics. According to Manwani, Sahasra is most likely to utilize the profits into its subsidiary Sahasra Semiconductors Private Limited so that it can finance the capex needed for the installation of additional plant and equipment purchases. Apart from that, the company will also use the funds for seamless working capital requirements and general-corporate purposes.
The IPO is beginning today and the subscription window is likely to shut down completely on September 30, with the IPO allotment fixed for October 01, 2024. As per a report of the Economic Times, the issue has a price band of Rs 269-283, with the lot size of 400 shares. It includes fresh equity shares of 65.78 Lakhs (Rs 172.01 Crore, and an offer for sale of 5 Lakh (Rs 14.15 crore) shares.
A year back, the company proclaimed to invest Rs 350 Crore to increase manufacturing facilities under ‘Make-in-India’ initiative. Sahasra Executives said that they have planned to start semiconductor packaging operations several years back because it is one of the most crucial aspects of design and manufacturing, and the wafers packaging be it plastic, metal, glass, or ceramic, protects them for chemical contamination and damage from the impact of light or heat.
