Ah­lada En­gi­neers IPO opens on 11th Septem­ber

Money Times - - Press Release -

Steel doors and win­dows maker Ah­lada En­gi­neers Ltd (AEL) plans to raise around Rs.51 crore through its SME-IPO in the price band of Rs.147-150 for its Rs.10 paid-up eq­uity share. The IPO com­prises a fresh is­sue of up to 34,05,000 eq­uity shares, which will be listed on the SME plat­form of NSE. The IPO pro­ceeds will be uti­lized to re­pay cer­tain iden­ti­fied loans, to pur­chase ma­chin­ery, to fund work­ing cap­i­tal and other gen­eral cor­po­rate pur­poses. The is­sue closes on Tues­day, 18 Septem­ber 2018.

AEL en­tered into an agree­ment with Tata Steel Ltd (TSL) last year, whereby TSL as­sured off-take of the doors man­u­fac­tured. TSL sells these doors un­der the brand ‘Tata Pravesh’. AEL will, over the course of the agree­ment ten­ure i.e. 4 years with an ad­di­tional ex­ten­sion of 11 months, man­u­fac­ture ~11,75,000 doors for TSL. For FY18, AEL re­ported

PAT of Rs.8.09 crore on an in­come of Rs.127.89 crore. Its EBITDA and PAT mar­gins stood at 16.26% and 6.33% re­spec­tively.

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