Faalcon Concepts IPO: Issue subscribed over 50% on day 1 so far, retail portion sees good demand; check GMP

The steadfast is progressive successful the design, engineering, manufacturing, and installation of façade systems, according to the prospectus. The company's doctrine is to supply its clients with solutions for their façade installation needs successful intricate projects.

"Exciting news! Mint is present connected WhatsApp Channels 🚀 Subscribe contiguous by clicking the nexus and enactment updated with the latest fiscal insights!" Click here!

Also Read: Faalcon Concepts IPO terms set fixed astatine ₹62 per share; SME IPO to unfastened connected April 19

The concern specialises successful intricately designed facades. To fulfill lawsuit requests, the steadfast provides a wide scope of goods. The steadfast offers a assortment of products, including roofing, chromatic cladding, metallic cladding, skylights, canopies, frameless glass, high-end aluminum doors and windows, and more.

The extremity of the concern is to supply facades that are immune to noise, dust, acerb rain, UV radiation, and different biology factors. The Company's registered bureau is located successful Gurugram, Haryana.

The concern has served clients from a fig of states, including Delhi, Haryana, Uttar Pradesh, Rajasthan, Madhya Pradesh, Karnataka, Gujarat, and Punjab.

The company's (with a P/E of 16.80) sole listed adjacent is Innovators Façade Systems Ltd (with a P/E of 44.42). 

From March 31, 2022 to March 31, 2023, Faalcon Concepts' nett aft taxation (PAT) accrued by 83.58% portion its gross fell by -28.5%.

Also Read: Vodafone Idea FPO time 2: GMP, subscription presumption to review. Should you subscribe to this ₹18,000 crore issue?

Faalcon Concepts IPO subscription status 

Faalcon Concepts IPO subscription presumption is 53%, connected time 1, truthful far. 

The retail information has been subscribed 89%, and NII information has been booked 17%. 

The institution has received bids for 9,88,000 shares against 18,52,000 shares connected offer, according to information connected chittorgarh.com.

Also Read: Grill Splendour Services IPO allotment to beryllium finalised soon; cheque latest GMP, 4 steps to cheque status

Faalcon Concepts IPO details

The astir ₹12.09 crore Faalcon Concepts IPO consists of a caller contented of 1,950,000 equity shares with a look worth of ₹10. The offer-for-sale constituent isn't there.

The nett proceeds of the offering volition beryllium utilized by the steadfast to fulfill the pursuing objectives: to partially concern the request for moving capital; to concern the superior expenditure for the procurement of facade structural equipment; and to fulfill wide firm purposes.

The company's promoters are Prithvi, Tribhuvan, and Ekta Seth.

The registrar of the Faalcon Concepts IPO is Beetal Financial & Computer Services (P) Limited, portion the publication moving pb manager of the offering is Navigant Corporate Advisors Ltd. Alacrity Securities is the marketplace shaper for the Faalcon Concepts IPO.

Also Read: Varyaa Creations IPO: Price band, contented size, cardinal dates, different details

Faalcon Concepts IPO GMP today 

Faalcon Concepts IPO GMP or grey marketplace premium was ₹0, which meant shares were trading astatine their contented terms of ₹62 with nary premium oregon discount successful the grey marketplace according to investorgain.com.

'Grey marketplace premium' indicates investors' readiness to wage much than the contented price.

Also Read: Vodafone Idea FPO booked 26% connected time 1 led by QIBs

Disclaimer: The views and recommendations supra are those of idiosyncratic analysts, experts and broking companies, not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decision.

Unlock a satellite of Benefits! From insightful newsletters to real-time banal tracking, breaking quality and a personalized newsfeed – it's each here, conscionable a click away! Login Now!

Published: 19 Apr 2024, 12:22 PM IST