QVC Exports IPO: Ferroalloys provider QVC Exports Ltd is set to launch its initial public offering (IPO) on August 21 to raise ₹24.07 crore from the primary market. QVC Exports IPO is an SME IPO and the equity shares of the company will be listed on NSE SME.
The bidding for QVC Exports IPO will commence on Wednesday, August 21, and conclude on Friday, August 23. The IPO allotment date is August 26 and the listing date is August 28.
QVC Exports IPO price band has been fixed at ₹86 per share. The company plans to raise ₹24.07 crore from the fixed price issue which is a combination of fresh issue of 20.5 lakh equity shares worth ₹17.63 crore and an offer for sale (OFS) component of 7.49 lakh shares aggregating to ₹6.44 crore.
The IPO lot size is 1,600 and the minimum investment amount required by retail investors is ₹137,600.
The net proceeds from the Issue will be utilized primarily for funding of repayment of unsecured loans of the company and working capital requirements.
“The IPO will mark the beginning of a new phase in our journey and enable us to further enhance our operations, expand our market reach, and invest in new opportunities that will drive future growth,” said Nilesh Kumar Sharma, Chairman And Managing Director of QVC Exports Ltd.
Khandwala Securities Ltd is the book running lead manager of the QVC Exports IPO, while Cameo Corporate Services Limited is the IPO registrar.
Nilesh Kumar Sharma, Madhu Sharma, Priti Sharma, Matashree Mercantile Private Limited and Unity Vyapaar Private Limited are the promoters of the company.
QVC Exports shares are commanding a decent premium in the unlisted market ahead of the IPO opening. QVC Exports IPO GMP today, or grey market premium today, is ₹50 per share, according to stock market experts. This indicates that QVC Exports shares are trading at ₹136 apiece in the grey market, a premium of 58.14% to the IPO price of ₹86 per share.
QVC Exports Ltd specializes in Ferroalloys, including High Carbon Silico Manganese, Low Carbon Silico Manganese, High Carbon Ferro Manganese, High Carbon Ferro Chrome, and Ferro Silicon, as well as raw materials essential for steel manufacturing.
The company derives the majority of its revenue from exports to prominent global steel manufacturers in markets, including Taiwan, Japan, and the United Kingdom, among others.
In FY24, QVC Exports reported a revenue of ₹445.98 crore, EBITDA of ₹10.71 crore and a net profit of ₹6.04 crore.
