IPO Issue Details
Issue Price / Price Band₹57 per share (Fixed Price)
Face Value₹10 Per Share
Lot Size2,000 Shares per Lot
Total Issue Size41,60,000 shares (aggregating up to ₹23.71 Cr)
Issue TypeBookbuilding IPO
Sale Type / CategoryFresh Capital
Exchange / PlatformNSE SME
IPO TypeSME
Subscription OpenTue, 28 Nov 2017
Subscription CloseThu, 30 Nov 2017
Anchor AllotmentMon, 27 Nov 2017
Basis of AllotmentWed, 06 Dec 2017
Initiation of RefundsThu, 07 Dec 2017
Credit of Shares to DematThu, 07 Dec 2017
Listing DateFri, 08 Dec 2017
UPI Mandate Deadline2017-11-30
Application & Investment Details
Retail — Min (1 Lots)114000 — 2000 shares
Retail — Max (13 Lots)₹1,482,000 (13 Lots)
HNI — Min (2 Lots)228000 — 4000 shares
Net Offer to Public39,52,000 shares (aggregating up to ₹22.53 Cr)
Reserved for Market Maker2,08,000 shares (aggregating up to ₹1.19 Cr)
Pre-IPO Promoter Holding1,15,12,000 shares
Post-IPO Promoter Holding1,56,72,000 shares
About ICE Make Refrigeration Ltd
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 Room2. Commercial Refrigeration3. Industrial Refrigeration and4. 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 equipments2. Providing customized solutions with a focus on after sales service3. Well established manufacturing facilities4. Strong marketing and distribution network5. Catering to clients from diverse sectors and industries
Objects of the Issue
ICE Make Refrigeration Ltd proposes to utilise the net proceeds from the Issue for the following objects:
1
To finance the capital expenditure for
14.57
2
Setting up of a coil manufacturing facility at Dantali
6.24
3
Upgradation of the existing facilities at Dantali
6.99
4
Construction of an administration office at Dantali
1.33
5
Expenditure towards enhancement of our brand through brand building activities
1.50
6
Investment in Bharat Refrigerations Private Limited (Wholly Owned Subsidiary) for upgradation of the existing facilities at Chennai
1.10
7
To meet the incremental working capital requirement
5
8
General Corporate Purpose
0.44
Shareholding & Lock-in
Pre-IPO Promoter Holding
1,15,12,000 shares
Post-IPO Promoter Holding
1,56,72,000 shares