Saakshi Medtech announces IPO, to raise Rs 45.16 crore

Saakshi Medtech & Panels Limited has announced the opening of its Initial Public Offering (IPO) on Monday, September 25, 2023. The subscription period is set to conclude on Wednesday, September 27, 2023, with the company’s shares proposed to be listed on the NSE SME platform.

The company is offering its equity shares in the price range of ₹92 to ₹97 per share, aiming to raise ₹45.16 crore (INR100 crore = approx. $12 million) at the upper price band. The offering comprises a total of 4,656,000 equity shares, with specific allocations for different investor categories including Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), Retail Individual Investors (RIIs), and market makers.

The company’s financial performance has been strong with a Compound Annual Growth Rate (CAGR) of 42.89% in revenue from FY2021 to FY2023. In FY2023, Saakshi Medtech&Panels Limited achieved a Revenue from Operations of ₹122.05 crore, with an Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of ₹20.34 crore and a Profit After Tax (PAT) of ₹12.38 crore.

Hem Securities Limited is the appointed book running lead manager for the issue, while Bigshare Services Pvt Ltd has been selected as the registrar. Investors and stakeholders are encouraged to review the company’s prospectus and consider participating in this opportunity.
MB Bureau