THANE (Maharashtra), Feb 17:(BusinessWire India): Sealmatic India Ltd, a leading mechanical seal manufacturing company, has launched its maiden Initial Public Offering (IPO) from February 16th to February 21st, 2023 (Anchor). The IPO has opened today and has got 100 per cent subscription from Anchor Investors, which in turn has generated a good buzz in the financial world, with analysts predicting a strong response from investors. Sealmatic India Ltd is one of the largest mechanical seal manufacturing companies in India, serving a wide range of industries including oil & gas, nuclear, thermal, refinery, chemical, petrochemical, pharmaceutical, pulp & paper, marine, aerospace and many other applications.
The company commenced its business in 2012 at Mumbai, Maharashtra and has since grown into a dominant player in the global mechanical seal market. Sealmatic India’s products are widely used in critical applications across various industries and are exported to over 45 countries including Europe and USA. The company’s manufacturing facilities are equipped with state-of-the-art machinery and are capable of producing high-quality mechanical seals that meet international standards. Sealmatic India’s IPO is expected to be a major success, owing to the company’s strong fundamentals and growth prospects. The company has consistently recorded impressive financial results over the years, with a strong track record of profitability. In the fiscal year 2022, Sealmatic India reported a revenue of Rs 42.76 crores, with a net profit of INR 8.41 crores. The company’s revenue has been growing over the last five years, and its net profit has also grown in the same period.
The IPO will comprise a fresh issue of 18,50,000 shares and an offer for sale (OFS) of 6,49,600 shares by the company’s promoters. The proceeds from the fresh issue will be employed to fund the company’s purchase of plant & machinery, product development, marketing and post-sales support, provisions and contingency, working capital and general corporate purposes.
Investors are expected to be attracted to Sealmatic India’s IPO due to the company’s strong fundamentals, growth prospects, and positive outlook for the mechanical seal market in India and globally. The Indian mechanical seal market is expected to grow over the next many years, driven by increasing demand from industries such as oil & gas, nuclear, thermal, refinery, chemical, petrochemical, pharmaceutical, pulp & paper, marine, aerospace and many other applications. Sealmatic India is well positioned to capture this growth, given its strong brand recognition, diversified product portfolio, and established global customer base.
Sealmatic India’s IPO has witnessed a good subscription from Anchor Investors, with strong demand from institutional investors, high net-worth individuals (HNIs), and retail investors. The company has already received support from prominent QIBs investing in the IPO.
In conclusion, Sealmatic India’s IPO is one of the most anticipated SME public offerings of 2023, and for good reasons.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
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