Pune-based Supreme Facility Management is set to launch its Initial Public Offering (IPO) on December 11, aiming to raise Rs 50 crore. The IPO, entirely a fresh issue of 65.79 lakh shares, will close on December 13, with a price band fixed at Rs 72-76 per share.
The company, a provider of integrated facility management services, offers a range of support solutions, including housekeeping, cleaning, disinfecting, pest control, horticulture, facade cleaning, and staffing services, alongside corporate food solutions. It plans to utilize the proceeds from the IPO as follows:
- Rs 30 crore for working capital requirements,
- Rs 7.5 crore for inorganic growth initiatives, and
- The remaining amount for general corporate purposes.
The IPO has reserved 10% for qualified institutional buyers (QIBs) and 45% each for retail and non-institutional investors (NIIs). Investors will be able to trade Supreme Facility Management’s shares on NSE Emerge from December 18. Khandwala Securities is serving as the merchant banker for the issue.
The strong equity market performance in December has encouraged a surge in SME IPO activity. Alongside Supreme Facility, Purple United Sales, Toss The Coin, Jungle Camps India, and Dhanlaxmi Crop Science are also launching IPOs next week. Additionally, Nisus Finance Services IPO has closed today, and Emerald Tyre Manufacturers will conclude its subscription next week.
