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IPO If you are looking to earn bumper profits by betting then this news is for you. An IPO of a Tamil Nadu government company is coming very soon. In fact, Tamil Nadu Coke and Power Limited (TNCPL) has submitted its draft paper to the Stock Exchange Board of India (SEBI) on Wednesday. Let us tell you that this IPO involves a new issue of 64,14,000 equity shares. The face value of the fresh issue is ₹10 per share. Beeline Capital Advisors Pvt Ltd has been named as the Book Running Lead Manager for this IPO. While Link Intime India Pvt Ltd is the registrar of the issue.
What is the company’s intention?
According to a draft paper filed with SEBI, the proceeds from the IPO will be used for building a new ferrosilicon manufacturing unit, setting up a new solar power plant and for general corporate purposes. The company will set up a new 2A5 MW ferrosilicon plant with a production capacity of 8,000 TPA at a cost of Rs. 39.60 crore wants to spend. While to acquire land near the existing plant Rs. 5 crore and for setting up new solar power plants with a capacity of 1581 Kwp Rs. 8.63 crore to be spent.
This is how the company has performed
The company’s coke factory unit and electric plant are located at Thandalachery village in Thiruvananthapuram district. The plant has easy access to the ports of Krishnapatnam which is very important in terms of transportation. Let it be known that in the financial year 2022-23 the income of TNCPL has increased from 46.11 crore rupees in the financial year 2021-22 to 51.60 crore rupees. At the same time, in the financial year 2022-23, the company made a profit of Rs 20.83 crore. In the financial year 2021-22, this profit was Rs 17.47 crore.
Disclaimer: Here is information about share performance only, not investment advice. Investment in stock market is subject to risk and please consult your advisor before investing.