Shares of Readymix Construction Machinery were trading at Rs 116.85 on the NSE, a discount of 5% compared with the issue price of Rs 123.
The scrip was listed at 123, matching the initial public offer (IPO) price. The stock was currently frozen at its lower limit of 5% over its listing price.The counter hit a high of Rs 123 and a low of Rs 116.85. About 4.12 lakh shares of the company changed hands at the counter.
Readymix Construction Machinery's IPO was subscribed 4.35 times. The issue opened for bidding on 6 February 2025, and it closed on 10 February 2025. The price band of the IPO was set at Rs 121 to Rs 123 per share.
The IPO comprised a fresh issue of 21,91,000 equity shares. The promoter and promoter group shareholding diluted to 72.06% from 100% pre-issue.
The company intends to utilize the net proceeds to meet working capital requirement, repayment or pre-payment, in full or part, of borrowing availed by the company and general corporate purposes.
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Ahead of the Readymix Construction Machinery on 5 February 2025, raised Rs 10.71 crore from anchor investors. The board has allotted 8,71,000 lakh shares at Rs 123 per share to 10 anchor investors.
Readymix Construction Machinery is an engineering-driven company specializing in the design, development, fabrication, and installation of industrial plants and equipment. It caters to sectors like cement, concrete, crushing, and construction, offering solutions such as dry mix mortar plants, readymix concrete support equipment, high-capacity silos, artificial sand plants, and wall putty plants. The company provides turnkey solutions, managing everything from conceptualization to final installation, along with after-sales services like repair and maintenance. As on 31 December 2024, the company has employed around 114 employees.
The company recorded revenue from operations of Rs 35.48 crore and net profit of Rs 1.04 crore for the period ended 31 December 2024.
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