Pro FX Tech IPO: Issue Sails Through on First Day. Check Gmp and Other Key Details

Pro fx tech ipo: The Initial Public Offering (IPO) of AV Products Distributor – Pro FX Tech, which kicked off for subscription on Thursday, june 26, managed to sail through the firist day of the bidding. Strong Demand from the Qualified Institutional Buyers (QIBS).

Pro fx tech iPo details

The three-day public offer of pro fx tech is an sme issue, with the company looking to Raise Nearly 40 Crore via the Initial Share Sale. The public offer will close for subscription on June 30, with allotment of shares likely on July 1 and listing expected on July 3 on the nse sme.

Pro FX Tech IPO is Entrely a Fresh issue of 46.32 Lakh Shares. The issue is priced in the range of 82 to 87 per share. The minimum lot size for pro fx tech iPo is 1600 shares, requires a minimum investment of 1,31,200 by the retail investors.

The company plans to use the iPo Proceeds for Repayment of Certain Borrowings, Funding Capex Towards

Pro fx tech iPo subscription status

As of 1.15 PM on the first day of the bidding process, Pro FX Tech IP’s Subscription Status Stood at 1.12 Times. The retail portion was booked 0.05 times, the Nii Porting was subscribed 0.56 times, and the Qib Portion Received 3.41 Times Bids.

Overall, Pro FX Tech IPO Received 34,36,800 Share Bids as Against 30,75,200 Shares on Offer.

Pro fx tech iPo gmp

The green market trend for the pro Pro fx tech iPo gmp studs at 0 on Thursday, indicating no premium or discount on the IPO price of the company shares in the green market. At this level, pro fx tech iPo shares count list at the upper price band of 87 Apiece.

About the company

Establed in 2006, Pro FX Tech is Engaged in the Distribution of AV (Audio-VIDEO) Products, Including Emplifiers & Processors, Turn-Tables, Audio Streamers, Audio Streamers, SpEakers, Subwoofers, Subwoofers, Subwoofers, Bars, and Cables.

Apart from distribution, the company is also engaged in designing and implementing customized AV Solutions for Home Theatres, Premium Home Automation, Multi-ROM Audio Systems, and BESPOKE AV SOPOKE ADIO SYSTEMS, and BESPOKE ADIO Customers.

The company sells products to brands like Denon, Polk, and JBL, Providing Distribution Rights to Ensure access to the latest Av Innovations and High-Quality International Products.

Currently, It Operates Six Showrooms and Two Experience CENTRES Across Five Cities in India.

Hem Securities Limited is the Book-Running Lead Manager of the Pro FX Tech IPO, While Cameo Corporate Services Limited is the Registrar for the issue.

Disclaimer: This story is for educational purposes only. The views and recommendations made Above are that of individual analysts or broking companies, and not of mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.