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The scrip was listed at Rs 95, a premium of 53.23% compared with the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price. The counter hit a high of Rs 95 and a low of Rs 90.25. About 9.44 lakh shares of the company changed hands at the counter. Faalcon Concepts' IPO was subscribed 67.75 times. The issue opened for bidding on 19 April 2024 and it closed on 23 April 2024. The price of the IPO was fixed at Rs 62 per share. The IPO comprised fresh issue of 19,50,000 equity shares. The promoter and promoter group shareholding diluted to 65.56% from 91.76% pre-IPO. The company intends to utilise the net proceeds to finance the capital expenditure for purchase of facade structural equipments, to part finance the requirement of working capital and to meet general corporate purposes. Faalcon Concepts specializes in designing, engineering, fabricating, and installing complex facade systems. The company focuses on technically demanding facades and offers a wide range of products, including curtain walls, high-end aluminum doors and windows, skylights, canopies, frameless glazing, MS structures, stone cladding, metal cladding, roofing, and more. The company has 26 employees. The company recorded revenue from operations of Rs 12.46 crore and net profit of Rs 1.31 crore for the period as on 31 October 2023. Powered by Capital Market - Live News |