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The public offering comprised fresh equity shares with the company aiming to raise funds for various strategic purposes including capital expenditure projects, meeting working capital requirements, covering public issue expenses, and other corporate endeavors. Beeline Capital Advisors Pvt Ltd managed the book-running process, while Bigshare Services Pvt Ltd served as the registrar. Spread X Securities was appointed as the market maker for the IPO.
For FY23 Sheetal Universal reported revenues reaching Rs 131.65 crore and after-tax profits amounting to Rs 1.98 crore. With a grey market premium (GMP) of Rs 12 over the initial IPO price band of Rs 70 per share, there is an implied potential listing gain of about 17.14%, indicating positive sentiment among investors.
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