MMPIL now plans Rs 80-85 crore IPO

So far we have seen that many companies came with a main board IPOs for Rs. 70 crore and as far as SME platform is concerned, we have seen a largest issue of Rs. 58.50 crore fund raising by Zota Healthcare. But now it appears, SME segment has turned mature and is going to see first SME IPO for fund mobilization of Rs. 80-85 crore in the beginning of CY 2018. Thus calendar year 2018 is set to open new chapter for a mega IPO in SME Segment. MMP Industrial Ltd. (MMPIL) (formerly known as Maharashtra Metal Powers Ltd.) was established in 1983 near the central Indian city of Nagpur. The firm is a flagship company of the Bhandari Group of Nagpur.

During three decades of its operation, the company has become a global player in the field of Aluminium powder and Aluminium pastes. MMPIL has over the time invested significantly in Research and developed various grades of Aluminium powder and related products. Apart from the domestic market, its products are exported across the globe to countries in Europe, Middle-East, Africa and the Asia Pacific. MMPIL has developed an extensive range of Aluminium Powders for the Construction Industry. MMPIL is the Pioneer in this segment and can offer the products with varied customer requirements. MMPIL has recently diversified into the field of Aluminium Conductors and set-up a plant with an installed capacity of 1000 MT/Month in the first phase. MMPIL has a total land bank of nearly 100 acres that will take care of its expansion plans. MMPIL mulls a dilution of 26% of post issue paid up equity capital of the company to raise Rs. 80-85 crore with a fresh issue of equity shares. Funds will be used for expansion, repayment of debts, working capital and general corpus fund needs. The issue is lead-managed by Guiness Corporate Advisors Pvt. Ltd. Financial and other details will be announced a week before the opening of the issue. The firm is confident of providing reasonably handsome rewards, in the long-term, to its new stakeholders.