Mason Infratech, a real estate construction company, began its initial public offering (IPO) today, June 24th, 2024. This is a chance for investors to buy shares in the company as it enters the stock market. Here’s a quick breakdown of the key details you need to know:
- New Company, Fresh Issue: This is Mason Infratech’s first time issuing shares to the public (IPO). All the 47.6 lakh (4.76 million) shares offered are new.
- Target for Funds: The company aims to raise ₹30.46 crore (₹304.6 million) through this IPO.
- Price per Share: The price range for each share is set between ₹62 and ₹64.
- Subscription Dates: The IPO is open for investors to subscribe for shares between today, June 24th, and June 26th, 2024.
- Minimum Investment: To participate, you’ll need to apply for at least 2000 shares, which translates to a minimum investment of ₹128,000 (₹1.28 lakh) at the upper price band.
- Listing Platform: After the allotment process, Mason Infratech shares are expected to be listed on the National Stock Exchange (NSE) SME platform. Tentatively, the listing date is set for July 1st, 2024.
- Company Focus: Mason Infratech builds and renovates residential and commercial buildings in the Mumbai Metropolitan Region. Their experience includes civil contracts, high-end buildings, and lifestyle projects.
- Financial Performance: The company’s revenue has grown steadily, from ₹3.49 crore (₹34.9 million) in 2020 to ₹63.81 crore (₹638.1 million) in 2023. As of March 31st, 2024, they have ongoing projects worth ₹191.82 crore (₹1.92 billion).
- Review and Investment Strategy: Experts believe the asking price might be on the higher side considering the company’s financials. Well-informed investors may consider a moderate investment for the medium term.
10. GMP (Grey Market Premium): GMP is an unofficial estimate of the share price in the grey market, which isn’t regulated. It’s recommended to focus on the company’s fundamentals and future prospects before making investment decisions.
Remember: This is just a basic overview. Before investing, thoroughly research Mason Infratech’s background, financial health, and future plans. Consulting a financial advisor is also recommended for personalized guidance based on your investment goals.