Arrowhead Seperation Engineering Ltd Share Price – BSE

Engineering, Small Cap

Arrowhead Seperation Engineering has received the contract for procurement of Spares of System/Dryer totaling to approx. Rs. 2.2 crore (including tax).

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Arrowhead Separation Engineering has secured the contracts for procurement of Dryers ,Flaker & Spares of System totalling to approx. Rs. 2.03 Crores (including tax).

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Arrowhead Seperation Engg. will hold a meeting of the Board of Directors of the Company on 18 December 2023.

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The scrip was listed at Rs 250, a premium of 7.30% over the initial public offer (IPO) price. The stock was currently frozen in a lower limit of 5% over its listing price.

The counter hit a high of Rs 255 and a low of Rs 237.50. About 1.19 lakh shares of the company changed hands at the counter.

Arrowhead Seperation Engineering's IPO received bids for 5,00,81,000 shares as against 5,58,000 shares on offer. The issue was subscribed 89.75 times. The issue opened for bidding on 16 November 2023 and it closed on 20 November 2023. The price of the IPO was fixed at Rs 233 per share.

The IPO comprised fresh issue of 5,58,000 shares. The promoter and promoter shareholding diluted to 35.09% from 50% pre-IPO.

The company intends to utilize the net proceeds to meet repayment of loan from NBFC’s, funding working capital requirements and general corporate purpose.

Arrowhead Seperation Engineering designs and manufactures various chemical process equipments with specialization in continuous drying and cooling system equipment. The core product of the company includes Drum Dryer, Rotary Dryer, Flaker System and Zero Liquid Discharge System (ZLD). The company offers customization facilities to all the customers as per their particular requirements and specifications. As on 30 March 2023, the company has 54 employees which includes contract laborer employed by the company to facilitate manufacturing operations.

The company recorded revenue from operations of Rs 21.50 crore and net profit of Rs 1.69 crore for the period as on 31 March 2023.

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