QVC Exports, a Kolkata-based company, deals in ferro silicon, low carbon silico manganese, high carbon ferro manganese, high carbon ferro chrome etc and other raw materials which are needed to produce steel. The firm sell coke, chrome ore, manganese ore that are needed by ferro alloy manufacturers and after getting various types of ferro alloy manufactured, buys them to resell them to steel producers in India and abroad. QVC Exports is a very lean company with only 15 employees as on August 6, 2024.
Exports around the world
In FY24, almost 83% of the company’s operational revenue came from exports. It exports regularly to Oman, Afghanistan, Bangladesh, Belgium, Taiwan, Japan, Thailand, Vietnam, Turkey, South Korea, Italy, Ukraine and England.
Issue details, listing
The price of an equity share of QVC Exports has been fixed at Rs 86. One can bid for a minimum of 1,600 shares. The IPO consists of fresh issue of equity shares worth Rs 17.63 crore and OFS (offer for sale) of Rs 6.44 crore. The listing of shares is expected to happen on August 28, 2024, at NSE SME.
IPO size and deployment
The target is to mop up Rs 24.07 crore through the issue. The money will be utilised in funds raised from the offering will be mainly used to repay the company’s unsecured loans and meet its working capital needs.
GMP
The Grey Market Premium (GMP) stands at Rs 65. Since the price has been fixed at Rs 86, the listing can take place at around Rs 151, which is substantially higher than the issue price.
Financials
The revenue of the company in FY24, FY23 and FY22 were as follows: revenue Rs 454.62 crore, Rs 214.71 crore and Rs 127.82 crore respectively; PAT Rs 3.92 crore, Rs 1.71 crore and Rs 0.90 crore. The reserves and surplus of the company in the past 3 years were recorded at Rs 25.67 crore, 23.82 crore and Rs 22.08 crore respectively, while the total borrowings stood at Rs 49.81 crore, Rs 32.27 crore and Rs 21.59 crore.
The registrar to the issue is Cameo Corporate Services. The book running lead manager is Khandwala Securities and Aftertrade Broking is the market maker.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
QVC Exports IPO has been subscribed 8.53 times on the first day of bidding. One can apply till Friday, August 23, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
