Patron EXIM first SME IPO for 2023 to open on February 21 at a price of Rs 27

Patron EXIM first SME IPO for 2023 to open on February 21 at a price of Rs 27

The Ahmedabad headquartered company is looking to raise Rs 16.69 crores and the proceeds will be used for operating capital, public issue costs and general company objectives.

FPJ Web DeskUpdated: Monday, February 20, 2023, 05:29 PM IST
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Patron EXIM first SME IPO for 2023 to open on February 21 at a price of Rs 27 | Canva

Patron EXIM's initial public offering will open for subscription on February 21 and close on February 24. The first SME IPO will be priced at Rs 27 with a face value of Rs 10.

The Ahmedabad headquartered company is looking to raise Rs 16.69 crore, and the proceeds will be used for operating capital, public offering costs, and general company objectives.

The promoters of the company are Narendrakumar Gangaramdas Patel and Sushilabahen Narendrakumar Patel, while Bigshare Services Private Limited is the registrat of the issue.

IPO details

The IPO allotment will be finalized on March 2, and the shares will be credited to the accounts on March 3, while they will be available for listing on March 6.

A retail investor will be able to apply for 4,000 shares worth Rs 108,000, whereas for the high net-worth individual category, the minimum size is two.

Patron EXIM

The company was established in 1982 and operates primarily in the pharmaceutical, adjacent industries and chemical industries. It manufactures and distributes surgical as well as non-surgical products, drug intermediates, active pharmaceutical ingredients, and more. The company's client list includes Cipla, Sun Pharma, Torrent Pharma, and Johnson & Johnson.

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