PRO FX Tech Ltd. launched its initial public offering (IPO) to raise over Rs 40 crore from the primary market on Thursday. The company specialises in audio, video and automation products. Investors who want to participate in the IPO can check the following details before making an investment call.
PRO FX Tech IPO: Key Details
The PRO FX Tech IPO is a book-building issue of Rs 40.3 crore. It comprises entirely a fresh issue of 46.32 lakh shares.
Retail investors can invest in the IPO by bidding for a single lot size of 1,600 shares, requiring an investment of Rs 1,39,200. High Net-Worth Individuals must bid for at least two lots, amounting to Rs 2,78,400.
The price band for the IPO has been set between Rs 82 and Rs 87 per share.
The subscription window for the IPO will remain open till June 30. Share allotment is expected to be finalised on July 1. Successful bidders will receive the shares in their Demat accounts on July 2. Refunds for non-allottees will also be processed on the same day.
The IPO listing date has been tentatively scheduled for July 3. Shares of PRO FX Tech Ltd. will be listed on the NSE SME platform.
A maximum of 50% of the net issue has been set aside for Qualified Institutional Buyers. Retail portion of the IPO comprises 35% of the net issue, while the company has reserved the remaining 15% for Non-Institutional Investors (NIIs).
Hem Securities Ltd. is the book-running lead manager of the PRO FX Tech IPO. Cameo Corporate Services Ltd. is the registrar and Hem Finlease Pvt. is the market maker for the issue.
PRO FX Tech IPO Subscription Status
*The subscription status will be updated soon
PRO FX Tech IPO GMP Today
According to InvestorGain, the grey market premium (GMP) for the IPO was nil as of 9:00 a.m. on June 26. It indicates a potentially flat listing for the IPO shares.
Note: GMP does not represent official data and is based on speculation.
PRO FX Tech: IPO Business And Financials
The company manufactures audio-visual equipment, such as speakers, amplifiers, audio streamers, subwoofers and sound bars. Incorporated in 2006, the company operates seven showrooms and two experience centres in Ernakulum, Mysore, Mumbai, Bengaluru, Coimbatore and Chennai.
Use Of Proceeds
The company has proposed to use proceeds from the IPO to fund capital expenditure for setting up showrooms, to meet working capital requirements and for general corporate purposes.
Financials
The company reported a 29.7% year-on-year (YoY) increase in profit after tax (PAT) to Rs 12.24 crore in FY25 from Rs 9.44 crore in FY24. Revenue from operations rose 17.1% YoY to Rs 129.4 crore in FY25 from Rs 110.5 crore in the preceding financial year.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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