Shree Refrigerations sets SME IPO price band at Rs 119-125 share issue to open on Jul 25

New Delhi, Jul 24 (PTI) Shree Refrigerations, a manufacturer of HVAC systems, on Thursday said it has fixed a price band of Rs 119-125 per share for its Rs 117.32 crore initial public offering (IPO), which will hit the capital markets on July 25.
     The IPO will conclude on July 29 and the company's shares will be listed on the BSE SME platform, Shree Refrigerations said in a statement.
     The public issue is a mix of fresh issuance of up to 75.61 lakh equity shares aggregating to Rs 94.51 crore and an offer for sale of up to 18.25 lakh shares amounting to Rs 22.81 crore.
     The net proceeds from the IPO will be utilised for funding the working capital requirements of the company and general corporate purposes.
     Established in 2006, Shree Refrigerations is a specialised provider of refrigeration systems, air-conditioning, and customised HVAC solutions. It caters to defence and industrial clients with bespoke systems engineered for critical environments. The company operates a state-of-the-art manufacturing facility in Karad, Maharashtra.
     "More than just a capital raise, this IPO is a catalyst for scaling our capabilities to meet the evolving needs of India's industrial landscape. We look forward to entering this new phase of accelerated growth with the support of the wider investment community," Ravalnath Gopinath Shende, MD of Shree Refrigerations Ltd.
     In FY25, the Pune-based Shree Refrigerations reported a revenue of Rs 98.73 crore and profit after tax of Rs 13.54 crore.
     Narnolia Financial Services Ltd is the sole book-running lead manager and MUFG Intime India is the registrar for the IPO.

(This story has not been edited by THE WEEK and is auto-generated from PTI)