Owais Metal and Mineral Processing Limited’s shares had an impressive opening on the NSE SME, starting at ₹250, a substantial 187.36% increase over the issue price of ₹87. This debut follows their IPO, which was open from February 26 to February 28, with a price band of ₹83 to ₹87 per share. Prior to listing, the shares were trading at a ₹100 premium in the grey market.
Owais Metal and Mineral Processing Ltd specializes in producing Manganese Oxide, MC Ferro Manganese, and other minerals. Expanding to Wood Charcoal and Processed Quartz, they established facilities in Rajasthan and Meghnagar. Located at a strategic junction in Meghnagar, they focus on efficient operations and expansion, utilizing local resources and a semi-automatic plant for growth.
Owais Metal and Mineral Processing Limited’s IPO aims to acquire equipment, enhancing manufacturing with INR 19.77 crores for various machinery, allocate INR 18 crores for working capital, and use remaining funds for general corporate goals, including strategic investments and brand development.