Valiant Organics came out with an initial public offering (IPO) of 9,64,800 shares of face value of Rs. 10 each at a fixed price of Rs. 220 per share. The issue opened on September 29 and closed on October 4.
The company got investment from leading fund house Reliance MF for its public issue.
Valiant Organics is a chemical company with focus on manufacturing and marketing of different types of chlorophenol, which has several applications in agro-chemical, pharma, dye industries as well as manufacturing of cosmetics and veterinary drugs.
With this, the total number of companies listed on the platform has reached 155.
Further, close to 36 companies have lined up their IPO plans. As many as 23 SMEs have received approval to float their respective public issues, while another 14 companies have filed draft papers with BSE and are awaiting approval from the exchange.
Out of these 155 firms, 18 have migrated to the BSE’s main board. The total amount of money raised so far on the BSE SME platform is about Rs. 1,214 crore and the market capitalisation of companies listed till date is Rs. 14,268 crore.
BSE had launched the SME platform in March 2012 to provide opportunity to such firms to raise capital for growth and expansion. It also provides immense opportunity for investors to identify and invest in good SMEs at an early stage.
Source: Business Line