Shri Balaji Valve Components Ltd Share Price – BSE

Capital Goods-Non Electrical Equipment, Small Cap

Shri Balaji Valve Components will hold a meeting of the Board of Directors of the Company on 7 May 2024.

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The scrip was listed at Rs 190, a premium of 90% compared with the initial public offer (IPO) price. The stock was currently frozen in an upper limit of 5% over its listing price.

The counter hit a high of Rs 199.50 and a low of Rs 190. About 7.96 lakh shares of the company changed hands at the counter.

Shri Balaji Valve Components' IPO was subscribed 183.41 times. The issue opened for bidding on 27 December 2023 and it closed on 29 December 2023. The price band of the IPO was fixed at Rs 95 to Rs 100 per share.

The IPO comprised fresh issue of 21,60,000 shares. The promoter and promoters shareholding diluted to 73.53% from 100% pre-IPO.

The company intends to utilize the net proceeds of issue for funding capital expenditure towards installation of additional plant and machinery, to meet working capital requirements and general corporate purposes.

Ahead of the IPO, Shri Balaji Valve Components on 26 December 2023, raised Rs 6.13 crore from anchor investors. The board allotted 6.13 lakh shares at Rs 100 per share to 5 anchor investor.

Shri Balaji Valve Components engaged in the business of manufacturing of ready to assemble valve components catering to manufacturing of the valves which are used in different industries and in different size depending on the customer’s specifications. It manufactures and supplies various types of valve components which are used in manufacturing of ball valves, butterfly valves and other valve including forging products. Its valve components are used to manufacture valves which serve industries which are in different sectors. As on 30 June 2023, the company has a total 168 employees.

The company recorded revenue from operations of Rs 16.51 crore and net profit of Rs 1.84 crore for the period as on 30 June 2023.

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The Equity shares of Shri Balaji Valve Components (Scrip Code: 544074) are listed on ''MT'' Group Securities effective from 03 January 2023

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