Owais Metal and Mineral Processing Limited IPO: Points to Consider Before Investing

Owais Metal and Mineral Processing Limited is coming up with its Initial Public Offering. This IPO is open for subscription from Monday, February 26, 2024 and will close on Wednesday, February 28, 2024. The price band is decided at Rs 83 to Rs 87 per share. The minimum lot size of this application for the retail category is 1600 shares. Whereas, the minimum lot size for HNI category is 2 lots consisting of 3200 shares. The minimum amount of investment required for retail category investors is Rs 1,39,200 (87 x 1600 shares). However for HNI category the minimum investment amount is required Rs 2,78,400 (87 x 3200 shares). Owais Metal and Mineral Processing Limited IPO 2024 is a book-built issue of Rs 42.69 crores. The issue is entirely a fresh issue of 49.07 lakh equity shares. The allotment for this IPO is expected to be finalised on Thursday, February 29, 2024. OMMPL IPO will list on NSE SME and listing date fixed on Monday, March 4, 2024. The book running lead manager of Owais Metal and Mineral Processing Limited IPO is Gretex Corporate Services Limited. The registrar for this IPO is Bigshare Services Private Limited. The market maker for the OMMPL IPO is Gretex Share Broking.

About Owais Metal and Mineral Processing Company

OMMPL company was established in year 2022, is engaged in the business of production and processing of metal and minerals. Before, its incorporation Owais Metal and Mineral Processing business was sole proprietorship firm and was carried under the name of M/s Owais Ali Overseas. The company is engaged in the manufacturing and processing of Manganese oxide – used in fertiliser industry and manganese sulphate plant, MC Ferro Manganese – used in steel and casting industry. Also, in Charcoal production – used in furnaces in the industries that require high heat for their manufacturing process. OMMPL does the processing of minerals such as ferroalloys, quartz and manganese ore that is used in the hotel industry, tile and ceramics industry, glass  industry, Furniture and Interior design industry. OMMPL supplies products in the states of Madhya pradesh, Punjab, Delhi, Gujrat, Maharashtra. The manufacturing facility is located in Mahanagar, M.P.

Objectives of Owais Metal and Mineral Processing Limited

OMMPL will use the funds raised from the IPO to purchase the equipment to facilitate manufacturing. Moreover, the proceeds will also be utilised to to fulfil the working capital requirements. Other than this general corporate purposes will also be met.

Financials of Owais Metal and Mineral Processing Limited (Amt in Rs Lakhs)

Owais Metal and Mineral Processing reported a revenue of Rs 3,977.54 and Profit after Tax of Rs 765.47 for the period ending on 31 December 2023. Previously, on 31 March 2023, the company reported a loss of -12.72.

Other Important Details of Owais Metal and Mineral Processing Limited IPO

IPO Reservation of Owais Metal and Mineral Processing Limited

Promoters and Shareholdings of Owais Metal and Mineral Processing Limited 

Saiyyed Owais Ali, Sayyad Akhtar Ali, and Saiyyed Murtuza Ali are the promoters of Owais Metal and Mineral Processing Limited.

Time-Table of Owais Metal and Mineral Processing Limited IPO

Lead Manager(s) of Owais Metal and Mineral Processing Limited IPO?

The book-running lead manager for Owais Metal and Mineral Processing Limited IPO is Gretex Corporate Services Limited.

How to Apply for Owais Metal and Mineral Processing Limited IPO?

Wait for the public issue to open for subscription, then click here to apply for the Owais Metal and Mineral Processing Limited IPO with Bigul.

How to Check Allotment Status of Owais Metal and Mineral Processing Limited IPO?

The registrar for Owais Metal and Mineral Processing Limited IPO is Bigshare Services Private Limited. To check your allotment status, please click here.

FAQs

1. What is Owais Metal and Mineral Processing Limited IPO 2024?

Owais Metal and Mineral Processing Limited IPO 2024 is a book-built issue of Rs 42.69 crores. The issue is completely a fresh issue of 49.07 lakh equity shares. The allotment for this IPO is expected to be finalised on Thursday, February 29, 2024.

2. What is the price band and minimum investment for the Owais Metal and Mineral Processing Limited IPO?

The price band of this IPO is Rs 83.00 to Rs 87.00 per share.

3. Who are the lead managers for the Owais Metal and Mineral Processing Limited IPO 2024?

Gretex Corporate Services Limited was appointed as the lead manager for the IPO.

4. What is the role of Cameo Corporate Services Limited in this IPO?

Bigshare Services Private Limited is the registrar for Owais Metal and Mineral Processing Limited, handling the IPO’s administrative aspects.

5. How can I apply for the Owais Metal and Mineral Processing Limited IPO 2024?

The public subscription of this IPO will open on February 26, 2024. Visit the Bigul website for the application process.

6. How will the net proceeds from the IPO be utilised?

OMMPL will use the funds raised from the IPO to purchase the equipment to facilitate manufacturing. Moreover, the proceeds will also be utilised to to fulfil the working capital requirements. Other than this general corporate purposes will also be met.

7. How can I check the allotment status of the IPO?

Investor’s can check the allotment status of the Owais Metal and Mineral Processing Limited IPO 2024 by clicking here.

8. What is the financial performance of Owais Metal and Mineral Processing Limited?

Owais Metal and Mineral Processing reported a revenue of Rs 3,977.54 and Profit after Tax of Rs 765.47 for the period ending on 31 December 2023. Previously, on 31 March 2023, the company reported a loss of -12.72.

9. When will the allotment get finalised and what is the listing date?

The allotment is expected to be finalised on Thursday, February 29, 2024. The listing date of Owais Metal and Mineral Processing IPO is March 4, 2024.