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ICE Make Refrigeration IPO is a book build issue of ₹23.71 crores. The issue is entirely a fresh issue of 0.42 crore shares of ₹23.71 crore.
ICE Make Refrigeration IPO bidding started from Nov 28, 2017 and ended on Nov 30, 2017. The shares got listed on NSE SME on Dec 8, 2017.
ICE Make Refrigeration IPO price band is set at ₹57.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,10,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,28,000.
Vivro Financial Services Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The market maker of the company is Airan Finstocks Pvt.Ltd..
Refer to ICE Make Refrigeration IPO RHP for detailed Information.
| IPO Date | November 28, 2017 to November 30, 2017 |
| Listing Date | December 8, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹55 to ₹57 per share |
| Issue Price Final | ₹57 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 41,60,000 shares (aggregating up to ₹23.71 Cr) |
| Reserved for Market Maker | 2,08,000 shares Airan Finstocks Pvt.Ltd. (aggregating up to ₹1.19 Cr) |
| Net Offered to Public | 39,52,000 shares (aggregating up to ₹22.53 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,15,12,000 shares |
| Share Holding Post Issue | 1,56,72,000 shares |
ICE Make IPO offers total 41,60,000 shares. Out of which 19,76,000 (47.50%) allocated to NII, 19,76,000 (47.50%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,08,000 (5.00%) |
| NII (HNI) Shares Offered | 19,76,000 (47.50%) |
| Retail Shares Offered | 19,76,000 (47.50%) |
| Total Shares Offered | 41,60,000 (100.00%) |
ICE Make Refrigeration IPO opens on November 28, 2017, and closes on November 30, 2017.
| IPO Open Date | Tue, Nov 28, 2017 |
| IPO Close Date | Thu, Nov 30, 2017 |
| Tentative Listing Date | Fri, Dec 8, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Nov 30, 2017 |
Investors can bid for a minimum of 2,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,14,000 |
| Retail (Max) | 1 | 2,000 | ₹1,14,000 |
| HNI (Min) | 2 | 4,000 | ₹2,28,000 |
Incorporated in 1993, ICE Make Refrigeration Ltd is Ahmedabad, Gujrat based manufacturer of refrigeration equipment under the brand of 'Ice Make'. Company provide cooling solutions for cooling systems and accessories used in industries such as dairy, ice-cream, food processing, agriculture, pharmaceuticals, cold chains, logistics, hospital, hospitality and retail, among others.
ICE Make classifies its business into the following 4 verticals:
1. Cold Room
2. Commercial Refrigeration
3. Industrial Refrigeration and
4. Transport Refrigeration.
Company's top 5 products are Cold Room, Commercial Freezer, Chiller, Refrigerated Vehicle and Ice Cream Hardener.
The manufacturing facilities of our Company are located at Dantali, Gujarat and the manufacturing facilities of our Wholly Owned Subsidiary are located at Chennai, Tamil Nadu.
Key strengths
1. Manufacturers of wide range of refrigeration equipments
2. Providing customized solutions with a focus on after sales service
3. Well established manufacturing facilities
4. Strong marketing and distribution network
5. Catering to clients from diverse sectors and industries
The Company ICE Make Refrigeration IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | To finance the capital expenditure for a. Setting up of a coil manufacturing facility at Dantali, | 6.24 |
| 2 | b. Upgradation of the existing facilities atDantali, | 6.99 |
| 3 | c. Construction of an administration office at Dantali | 1.33 |
| 4 | Expenditure towards enhancement of our brand through brand building activities | 1.50 |
| 5 | Investment in Bharat Refrigerations Private Limited (Wholly Owned Subsidiary) for upgradation of the existing facilities at Chennai | 1.10 |
| 6 | To meet the incremental working capital requirement | 5.00 |
| 7 | General Corporate Purpose | 0.44 |
[Dilip Davda] Considering the status enjoyed by this company among creamy customers and proven track record, investors may consider investment for medium to long term. It is set to create fancy post listing as the first mover in the segment. (Subscribe). Read detail review...
| Listing Date | December 8, 2017 |
| BSE Script Code | |
| NSE Symbol | ICEMAKE |
| ISIN | INE520Y01019 |
| Final Issue Price | ₹57 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹57.00 |
| Open | ₹68.40 |
| Low | ₹68.40 |
| High | ₹68.40 |
| Last Trade | ₹68.40 |
ICE Make Refrigeration Ltd.
B-1, Vasupujya Chamber,
Near Navdeep Building,
Income-Tax Cross Road,
Ahmedabad, Gujarat, 380009
Phone: +91 79 27540630
Email: info@icemakeindia.com
Website: http://www.icemakeindia.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: icemake.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
ICE Make Refrigeration IPO is a SME IPO of 41,60,000 equity shares of the face value of ₹10 aggregating up to ₹23.71 Crores. The issue is priced at ₹57 per share. The minimum order quantity is 2000.
The IPO opens on November 28, 2017, and closes on November 30, 2017.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in ICE Make Refrigeration IPO using UPI as a payment gateway. Zerodha customers can apply in ICE Make Refrigeration IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in ICE Make Refrigeration IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The ICE Make Refrigeration IPO opens on November 28, 2017 and closes on November 30, 2017.
ICE Make Refrigeration IPO lot size is 2000, and the minimum amount required for application is ₹1,14,000.
You can apply in ICE Make Refrigeration IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for ICE Make Refrigeration IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the ICE Make Refrigeration IPO allotment status.
The ICE Make Refrigeration IPO listing date is on Friday, December 8, 2017.
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