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Taurian MPS Limited, an engineering and manufacturing company specializing in sand, aggregates, and spare parts for construction and mining, has launched its Initial Public Offering on the NSE Emerge platform. The company aims to raise INR 42.53 crore through the sale of 24,87,200 equity shares, priced between INR 162 and INR 171 each. Funds from the IPO will support machinery acquisitions, research and development, working capital, and general corporate purposes. The issue includes allocations for anchor investors, institutions, non-institutional, individual investors, and market makers, reflecting a structured approach to raising capital.
Taurian MPS Limited, a company engaged in engineering and manufacturing for the construction and mining sectors, opened its Initial Public Offering earlier this week. The IPO is aimed at raising INR 42.53 crore at the upper price band and will see the listing of 24,87,200 equity shares on the NSE Emerge platform, with each share carrying a face value of INR 10 and priced between INR 162 and INR 171. Advertisement
The IPO allocation has been structured across several investor categories. Anchor investors will receive up to 6,55,200 shares, qualified institutional buyers can subscribe for up to 4,36,800 shares, non-institutional investors will be allocated no less than 3,29,600 shares, individual investors will get at least 7,66,400 shares, and market makers can take up to 2,99,200 shares. The anchor portion opened earlier in the week, while the main IPO was open from Monday and closed on Wednesday.
The net proceeds from the IPO are planned for multiple purposes. Taurian MPS will invest in acquiring machinery and equipment for its current production facility, enhance research and development to promote innovation, strengthen working capital, and meet general corporate requirements.
Gretex Corporate Services Limited is acting as the Book Running Lead Manager and underwriter, with Gretex Share Broking Limited and NNM Securities Private Limited serving as market makers. Bigshare Services Private Limited is appointed as the registrar for the issue.
Managing Director Yashvardhan Sumit Bajla highlighted that Taurian MPS has consistently focused on introducing innovative solutions for mining and infrastructure, including advanced crushing, screening, washing, and conveying systems, along with hybrid mobile crushers and the Taurian Nexus automation platform. He noted that the company's presence across India and international markets positions it well to expand further.
Alok Harlalka, Director of Gretex Corporate Services Limited, stated that Taurian MPS has established a strong footing in the mining and infrastructure equipment sector, with a diversified portfolio of systems. He added that the industry is witnessing steady growth, and the company is well-positioned to leverage opportunities through its innovation-driven approach and expanding presence.
Source PTI
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