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Anmol India BSE SME IPO opens today

Tuesday, February 12, 2019

Ludhiana based Anmol India, a leading coal importing and trading company proposes to launch its maiden initial public issue (IPO) on BSE SME Platform on 12 February 2019. The Company is proposing a Fresh Issue of 31,00,000 Equity Shares of face value of Rs 10/- each for cash at a price of Rs. 33/- per equity share aggregating to Rs. 102.3 million. The proceeds from IPO will be utilized to part finance working capital requirements of the Company; meet General corporate purposes and the expenses of the Issue. The Issue will close on 14 February 2019.

The Company’s MD & CFO Vijay Kumar said “Since inception in 1998, Anmol India has made itself a trusted brand among clients located in over 100 different locations in India. Initially serving only brick kiln industry and Coal traders, today the Company caters to the demand of over a dozen different types of industries and trades both in Coal and Pet Coke"

Lead Manager to the issue Abhinav Gupta, President, Share India Capital Service said “Anmol India Ltd is our 1st IPO mandate as a merchant banker. The Company has quality fundamentals and high potential for accelerated growth. We expect the issue to attract quality investors as the Company has performed extremely well over the years and specially in the last few fiscals"

"Anmol India is able to deliver such a robust return on capital due to - superior asset liability management, better inventory management, higher turnover due to improved demand outlook and lower turnaround time. The high growth in top line, specifically in FY18-19 shows strong market potential and the Company’s focus on corporate sector, penetration of in-house app "Anmol Coal" and better business environment,” Gupta added.

Share India Capital Services Pvt. Ltd is the lead manger to the issue and Bigshare Services Pvt. Ltd  is the registrar to the public offer.

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