Shera Energy Limited, engaged in the business of manufacturing winding wires and strips made of non-ferrous metals like copper, aluminium and brass, proposes to open its Initial Public Offer on February 7th, 2023. The Company proposes to garner ₹ 35.20 crore through IPO and shares will be listed on NSE Emerge platform.
The issue size is up to 61,76,000 equity shares out of which Fresh Issue will be up to 10,48,000 equity shares & OFS will be up to 51,28,000 equity shares.
Equity Share Allocation
- QIB – Up To 25,06,000 Equity Shares
- NII – Up To 8,20,000 Equity Shares
- RII – Up To 18,50,000 Equity Shares
- Employees – Up To 6,00,000 Equity Shares
- Market Maker – Up To 4,00,000 Equity Shares
The net proceeds from the IPO will be utilized to meet working capital requirements and for general corporate purposes. The issue closes on February 9th, 2023.
The company has already placed 18,00,000 equity shares aggregating to ₹ 10.08 crore in pre-IPO placement.
The Book Running Lead Manager to the Issue is Holani Consultants Private Limited and The Registrar to the Issue is Bigshare Services Private Limited.
Mr. Naseem Shaikh, Chairman and Managing Director, Shera Energy Limited, said, “We are manufacturing products of non-ferrous metals like copper, aluminum and brass all under one roof which gives us added advantage. We have completed majority of our capex and have built strong production capacity. With increasing demand for our products what we need is working capital to fuel our growth and take the company to the next level and IPO funding will help us.”
About Shera Energy Ltd.:
Shera Energy Ltd, engaged in the business of manufacturing winding wires and strips made of non-ferrous metals primarily copper, aluminium and brass. To focus on business growth, the company has done backward and forward integration to add value-added products in the portfolio. Product range of company includes paper covered wires, enamel and fibre covered wires, round wires, rectangular wires, bunched wires, tubes, rods, strips, etc. These products are mainly used in transformers, motors and electrical panels. The Company is ISO Certified and having vendor approval validation from prestigious organisation such as Power Grid Corporation of India.