Presstonic Engineering IPO on Monday: Check Price Bar, Release Date, GMP

Presstonic Engineering is gearing up for its Initial Public Offering (IPO) set to launch on Monday, December 11. Positioned at an attractive starting price, this presents a promising opportunity for investors eyeing the engineering and technology sector.

The subscription window for the Presstonic Engineering IPO opens tomorrow, December 11, and will close on Wednesday, December 13, spanning two days. The IPO’s issue size is set at 1600 shares, allowing investors to bid for a minimum of 1600 shares.

The IPO’s price band is established at ₹72, translating to a minimum bid amount of ₹1,15,200 (1600 x ₹72). Here’s a comprehensive overview of the Presstonic Engineering IPO:

Presstonic Engineering IPO: Key Details

•  Price Band: ₹72
• Minimum Bid Requirement: 1600 shares
• Minimum Bid Amount: ₹1,15,200 (1600 x ₹72)
• Face Value: ₹10 per share
• Issue Size: ₹23.30 crore
• Grey Market Premium (GMP): ₹23

The IPO, valued at ₹23.30 crore, consists solely of an Offer for Sale (OFS), featuring 3,236,800 fresh issue shares. The primary objective of the IPO is to bolster the company’s capital for debt repayment and the acquisition of additional machinery to enhance production efficiency.

Presstonic Engineering Limited witnessed an impressive 66.11 percent revenue surge and a staggering 1721.76 percent increase in Profit After Tax (PAT) during FY22. The company’s promoters are Yermal Giridhar Rao and Herga Poornachandra Kedilaya. Stay tuned for more updates as this lucrative IPO unfolds.