{"id":42899,"date":"2024-07-24T18:19:24","date_gmt":"2024-07-24T12:49:24","guid":{"rendered":"https:\/\/mint-money.in\/index.php\/2024\/07\/24\/esprit-stones-limited-ipo-opens-on-july-26-2024\/"},"modified":"2024-07-24T18:19:24","modified_gmt":"2024-07-24T12:49:24","slug":"esprit-stones-limited-ipo-opens-on-july-26-2024","status":"publish","type":"post","link":"https:\/\/mint-money.in\/index.php\/2024\/07\/24\/esprit-stones-limited-ipo-opens-on-july-26-2024\/","title":{"rendered":"Esprit Stones Limited IPO Opens On July 26, 2024"},"content":{"rendered":"<div>\n<p><strong>Mumbai (Maharashtra) [India], July 24:<\/strong> \u00a0<a><\/a>Esprit Stones\u00a0Limited,\u00a0a\u00a0key\u00a0player in India\u2019s engineered stones sector, specializes in durable engineered quartz and marble surfaces, has announced its plan to go public with an Initial Public Offering (IPO)\u00a0on\u00a0July\u00a026, 2024. The company is aiming to raise\u00a0\u20b9\u00a050.42\u00a0Crores\u00a0at the\u00a0upper band\u00a0through this IPO, with shares set to be listed on the\u00a0NSE Emerge\u00a0platform.<\/p>\n<p>\u25cf Total Issue Size \u2013 Up To 57,95,200 Equity Shares of \u20b9 10 each \u25cf Issue Size \u2013 \u20b9 50.42 Crores (At Upper Band) \u25cf Price Band \u2013 \u20b9 82 to \u20b9 87 Per Share \u25cf Discount \u2013 A Discount of \u20b9 5 Per Equity Share Is Being Offered To Eligible Employees Bidding In The Employee Reservation Portion \u25cf Lot Size \u2013 1,600 Equity Shares<\/p>\n<p>The issue size is\u00a0Up To\u00a057,95,200\u00a0equity shares at\u00a0a\u00a0face value of\u00a0\u20b9\u00a010\u00a0each.<\/p>\n<p><strong>Equity Share Allocation<\/strong><\/p>\n<p>\u25cf\u00a0QIB Anchor Portion \u2013\u00a0Not more than\u00a016,12,800\u00a0Equity Shares<\/p>\n<p>\u25cf\u00a0Qualified Institutional Buyers (QIB) \u2013\u00a0Not more than\u00a010,75,200\u00a0Equity Shares<\/p>\n<p>\u25cf\u00a0Non-Institutional Investors (NII) \u2013\u00a0<a><\/a>Not\u00a0less\u00a0than\u00a08,06,400Equity Shares<\/p>\n<p>\u25cf\u00a0Retail Individual Investors (RII) \u2013\u00a0Not\u00a0less\u00a0than\u00a018,81,600\u00a0Equity Shares<\/p>\n<p>\u25cf\u00a0Employee Reservation Portion \u2013\u00a0Not more than\u00a01,28,000 Equity Shares<\/p>\n<p>\u25cf\u00a0Market Maker \u2013\u00a02,91,200\u00a0Equity Shares<\/p>\n<p>The net proceeds from the Issue are set to be utilized primarily to\u00a0Funding\u00a0of\u00a0Working Capital Requirement\u00a0of\u00a0the company, Investment in Subsidiary\u00a0Haique Stones Private Limited (HSPL), for\u00a0Repayment\u00a0and\/ or\u00a0Prepayment of Borrowings, and\u00a0funding its\u00a0Working Capital\u00a0Requirement.\u00a0The bidding for the Anchor portion will open on July 25, 2024, the issue will open for subscription\u00a0on\u00a0July 26, 2024 and closes on July 30, 2024. \u00a0\u00a0<\/p>\n<p>The Lead Manager to the Issue is Choice Capital Advisors Private Limited and Srujan Alpha Capital\u00a0Advisors LLP,\u00a0The Registrar to the Issue is\u00a0Link Intime India Private Limited.<\/p>\n<p>Mr. Sunil\u00a0Kumar Lunawath, Managing Director and Promoter of Esprit Stones Limited\u00a0Expressed,\u00a0\u201cEsprit Stones Limited is pleased to announce that the proceeds from the Issue will be strategically utilized to fund our working capital needs and invest in our subsidiary, HSPL.\u00a0We are one of the key Engineered Stones players in India, offering\u00a0high-quality quartz and marble surfaces renowned for their durability and aesthetic appeal. Our ongoing commitment to innovation and\u00a0excellence supports our growth and expansion efforts, ensuring continued success in both domestic and international markets. This milestone marks an exciting new chapter for Esprit Stones Limited, and we are confident that it will drive further value and will enhance our corporate image and visibility of our brand name.\u201d<\/p>\n<p>Mr.\u00a0Ratiraj Tibrewal\u00a0Director\u00a0&amp; CEO\u00a0of\u00a0Choice Capital Advisors Private Limited\u00a0said,\u00a0\u201cWe are proud to support a company that has demonstrated outstanding leadership and innovation within the engineered stones industry. The global market for engineered stones is experiencing significant growth, driven by increasing demand for durable, aesthetically pleasing, and low-maintenance surfaces. We are confident that Esprit Stones Limited will continue to thrive and expand its market presence.\u201d<\/p>\n<p>Mr. Govind Saboo\u00a0Partner\u00a0of Srujan Alpha Capital Advisors LLP\u00a0said,\u00a0\u201cEsprit Stones Limited has consistently stayed ahead of industry trends by offering premium products that cater to the evolving needs of both domestic and international markets. We believe that the strategic use of the Issue proceeds will further solidify the company\u2019s market position and drive sustained growth in the future.\u201d<\/p>\n<p><em>If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai (Maharashtra) [India], July 24: \u00a0Esprit Stones\u00a0Limited,\u00a0a\u00a0key\u00a0player in India\u2019s engineered stones sector, specializes in durable engineered quartz and marble surfaces, has announced its plan to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":42900,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[232],"class_list":["post-42899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/posts\/42899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/comments?post=42899"}],"version-history":[{"count":0,"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/posts\/42899\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/media\/42900"}],"wp:attachment":[{"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/media?parent=42899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/categories?post=42899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mint-money.in\/index.php\/wp-json\/wp\/v2\/tags?post=42899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}