Eureka Conveyor Beltings Restricted, a Rajasthan-based agency working within the rubber-conveyor belt manufacturing phase, has acquired last remark from the capital markets regulator, the Securities and Trade Board of India (SEBI), for an preliminary public providing (IPO) within the SME phase.
The corporate filed its draft pink herring prospectus (DRHP) again on August 22, 2024.
The small and medium enterprise (SME) agency, by way of a book-built situation, presents a completely recent situation of as much as 53,28,000 or 53.28 lakh fairness shares, with a face worth of ₹10 per share, within the upcoming SME IPO.
Eureka Conveyor Beltings goals to lift cash to fund ₹30 crore capital expenditure wants and ₹9 crore working capital necessities. The remaining quantity from the general public situation proceeds can be used to cater to normal company functions. The corporate has not disclosed the overall quantity requirement.
Raj Kumar Khubchandani, Bharat Kumar Khubchandani, Sumit Khubchandani, Nitin Khubchandani, Bhakti Khubchandani and Puneet Khubchandani are the promoters of the rubber conveyor belt-making firm.
Beeline Capital Advisors Personal Restricted has been appointed because the book-runner for the general public situation, whereas Kfin Applied sciences Restricted will function the registrar to the provide.
About Eureka Conveyor Beltings
Eureka Conveyor Beltings Restricted is concerned in manufacturing and exporting a variety of conveyor rubber belts, industrial rubber belts, industrial conveyor beltings, and heat-resistant conveyor belts, amongst different issues.
The corporate has manufacturing services in Kota, Rajasthan, with a manufacturing capability of two,000 meters per day.
Within the monetary yr 2023-24, the corporate’s income was at ₹140.98 crore, with a internet revenue of ₹12.42 crore, in keeping with firm knowledge. Within the monetary yr 2022-23, the revenues had been at ₹96.39 crore, and the online revenue was at ₹8.53 crore.
The corporate is ISO 9001:2015 licensed and makes use of expertise and in-house experience to fabricate conveyor belts that meet stringent industrial requirements, in keeping with the corporate launch.
