Meson Valves India Ltd Share Price – BSE

Trading, Small Cap

Meson Valves India will hold a meeting of the Board of Directors of the Company on 14 November 2023.

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The scrip was listed at Rs 193.80, a premium of 90% compared with the issue price. The scrip hit a high of Rs 203.45 and a low of Rs 193.80. About 14.02 lakh shares of the company changed hands at the counter.

The initial public offer (IPO) of Meson Valves was subscribed 164.81 times. The issue opened for bidding on 8 September 2023 and it closed on 12 September 2023. The price of the IPO was fixed at Rs 102 per share.

The IPO comprised fresh issue of 30,48,000 shares. The promoter and promoter group shareholding diluted to 32.83% from 46.91% pre-IPO.

The company intends to utilize the net proceeds for to purchase of plant and machinery for setting up of manufacturing unit; funding working capital requirements; and general corporate purposes.

Meson Valves India supplies valves, actuators, strainers, and remote-control valve systems to industries globally. The company serves naval, oil and gas, power, refineries, and general industries. It offers a wide range of products, including valves, actuators, control systems, tanks, visualization systems, piping, pumps, fittings, gaskets, flanges, and measurement devices. Additionally, the company provides installation, maintenance, and servicing for these products. Meson Valves India holds ISO 14001:2015, ISO 9001:2015, and ISO 45001:2018 certifications for their design, development, manufacturing, and servicing operations. Its assembly unit, located in Pune, India, is equipped with CNC machines and quality testing machinery.

The company recorded a revenue from operations of Rs 36.65 crore and net profit of Rs 4.52 crore for the period ended as on 31 March 2023.

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The equity shares of Meson Valves India (Scrip Code: 543982) are listed effective 21 September 2023 and admitted to dealings on the Exchange in the list of 'MT' Group Securities.

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