Magson, Greenchef and Essen Speciality IPOs beckon

IPOs are back in trend and a lot of companies are looking towards capital markets for raising funds. So let’s look at updates of different IPOs

1) Magson Retail And Distribution Private Limited:
The company is in the business of frozen food, gourmet and specialty foods distribution as well as retail. Its IPO is open for subscription from 23rd June to 27th June. The company is looking to raise Rs 13.74 crore. All this will be a fresh issue for Rs 65 per share. This amount will be used for New stores, storage facilities and backward integration. By 3 PM IPO was subscribed 31%.

2) Greenchef Appliances Limited:
The company is in the business of production of kitchen appliances like LPG Gas stoves. Its IPO is open for subscription from 23rd June to 27th June. The company is looking to raise Rs 53.62 crore. All this will be a fresh issue and the price band for share is Rs 82-87 per share. This amount will be used for Capital expenditure on plant and machinery as well as for working capital needs. By 3 PM IPO was subscribed 1.14 times.

3) Essen Speciality Films Private Limited:
The company produces specialized plastic products in the home furnishing industry. Its customers include Walmart, IKEA, Kmart, Bed Bath & Beyond. IPO is open for subscription from 23rd June to 27th June. The company is looking to raise Rs 66 crore from IPO. Out of this Rs 50 crore will be fresh issue and Rs 16 crore will be OFS. By 12 PM it was subscribed 51%. The listed company Rajoo Engineers is part of the promoters group. The capital raised through IPO will be used for debt repayment and working capital needs. By 3pm it was subscribed 1.06 times.