Bookbuilding IPO | ₹24 Cr | Listed at NSE SME | Tue, Nov 28, 2017 - Thu, Nov 30, 2017
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 per share. The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,14,000 (2000 shares) (based on upper price). The minimum lot size for investment in 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 Open
Tue, Nov 28, 2017
IPO Close
Thu, Nov 30, 2017
Issue Price
₹57 per share
Market Cap (Pre-IPO)
₹89.33 Cr
| IPO Date | 28 to 30 Nov, 2017 |
| Listed on | Fri, Dec 8, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹55 to ₹57 |
| Issue Price | ₹57 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 41,60,000 shares (agg. up to ₹24 Cr) |
| Reserved for Market Maker | 2,08,000 shares Airan Finstocks Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 39,52,000 shares (agg. up to ₹23 Cr) |
| Net Offered to Public | 39,52,000 shares (agg. up to ₹23 Cr) |
| Share Holding Pre Issue | 1,15,12,000 shares |
| Share Holding Post Issue | 1,56,72,000 shares |
| NSE Symbol | ICEMAKE |
| ISIN | INE520Y01019 |
ICE Make Refrigeration IPO comprises a total issue size of 41,60,000 shares. The net offer to the public is 39,52,000 shares, after excluding 2,08,000 shares allotted on a firm basis. Of the Net offer 19,76,000 (50.00%) allocated to NII 19,76,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 19,76,000 | 50.00% | 47.50% |
| Retail Shares Offered | 19,76,000 | 50.00% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,08,000 | 5.00% | |
| Total Shares Offered | 41,60,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| 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
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
The ICE Make IPO is subscribed 260.63 times on November 30, 2017 5:00:00 PM (Day 3). The public issue subscribed 140.84 times in the retail category, [.] times in the QIB category, and 378.67 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 378.67 | 20,80,000 | 78,76,24,000 |
| Retail | 140.84 | 20,80,000 | 29,29,52,000 |
| Total | 260.63 | 41,60,000 | 1,08,42,34,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including fee and reimbursements of market making fee, selling commissions, brokerages, payment to other intermediaries such as Legal Advisors, Registrars, Bankers & out of pocket expenses | 0.78 |
| 2 | Printing & Stationery and Postage Expenses | 0.02 |
| 3 | Marketing and Advertisement Expenses | 0.24 |
| 4 | Regulatory fees and other expenses | 0.06 |
| 5 | Other Miscellaneous expenses | 0.00 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹57.00 |
| Open | ₹68.40 |
| Low | ₹68.40 |
| High | ₹68.40 |
| Last Trade | ₹68.40 |
Lead Manager Reports
ICE Make Refrigeration IPO is a SME IPO of 41,60,000 equity shares of the face value of ₹10 aggregating up to ₹24 Crores. The issue is priced at ₹57 per share. The minimum order quantity is 2000.
The IPO opens on Tue, Nov 28, 2017, and closes on Thu, Nov 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 Tue, Nov 28, 2017 and closes on Thu, Nov 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 Fri, Dec 8, 2017.
