Pattech Fitwell Tube Components SME IPO

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Pattech Fitwell Tube Components Ltd. is offering a 2,400,000 equity share SME IPO with a potential value of $12,000,000. Investors can subscribe for this SME IPO between April 5 and April 12, 2023. Each equity share is worth $10 nominally. The issue price for this SME IPO is fixed at 50 cents per share, and the lot size is 3000 shares.

The Pattech Fitwell Tube Components IPO’s basis of allotment will be finished on April 18, 2023, and Bigshare Services Pvt Ltd will act as the offering’s registrar. The projected date of the initial public offering (IPO) listing of Pattech Fitwell Tube Components is April 21, 2023, while the precise date has not yet been made public.

  1. During FY22, the company recorded a revenue of ₹22.63 Cr compared to ₹18.45 Cr during FY21 and its net expenses stood at ₹20.70 Cr during FY22 as against ₹18.48 Cr during FY21. The net profit of Pattech Fitwell Tube Components reached ₹1.44 Cr during FY22 compared to a net loss of ₹0.01 Cr during FY21.
  2. The year 2012 marked the start of Pattech Fitwell Tube Components Limited’s journey. Forging items are manufactured by the firm for the non-automotive market. It is the top manufacturer of all types of pipe and tube fittings in C.S., A.S., and S.S., including elbow, tee, reducers, caps, spools, stub ends, and flanges, among others.
  3. A R Ramachandran, Co-founder & Trainer-Tips2trades said “Inconsistent revenue and profit growth coupled with a high debt-equity ratio makes the current valuations for Pattech Fitwell Tube very overpriced. Investors should avoid subscription and wait for lower levels post listing for better returns.”
  4. On April 3, Avalon Technologies IPO will begin accepting subscriptions. Subscriptions for the public offer will be accepted until April 6th. The company has received about ₹389.25 crore in pre-IPO funding from 24 anchor investors. The firm is expected to be listed on BSE and NSE following the IPO.
  5. Avalon collected ₹389.25 and issued 8,927,751 equity shares to 24 anchor investors at the upper price range of ₹436 per equity share, including a premium of ₹434 per equity share with a face value of ₹2 per share.
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