MUMBAI - Shree OSFM E-Mobility, an Indian company specializing in employee transportation solutions, has announced the launch of its initial public offering (IPO) aimed at raising Rs 24.6 crore (approx. $3 million). The IPO is scheduled to open on December 14 and close on Sunday, targeting the information technology (IT/ITES) and aviation sectors. First Overseas Capital is leading the IPO efforts, with Bigshare Services appointed as the registrar.
The company has set the price at Rs 65 per share and intends to use the proceeds for working capital requirements and vehicle purchases. This move comes as Shree OSFM looks to expand its operations and meet growing demand in its specialized transportation services.
The offering, which begins on Wednesday, has allocated half of the shares to retail investors, signaling confidence in robust participation from the public. With a reported H1 revenue of Rs 55.97 crore and a net profit of Rs 2.22 crore, Shree OSFM's financial performance underpins its growth strategy.
Following the close of the IPO on Sunday, the final share allotment is expected to occur on Monday, December 19. The company anticipates listing on the NSE SME platform shortly thereafter on Thursday, December 21, marking a significant milestone for Shree OSFM as it seeks to tap into public markets for funding its expansion and operational needs.
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