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The scrip was listed at Rs 155, a premium of 29.17% compared with the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% over its listing price. The counter hit a high of Rs 162.75 and a low of Rs 155. About 27.56 lakh shares of the company changed hands at the counter. Patil Automation's IPO was subscribed 94.33 times. The issue opened for bidding on 16 June 2025 and it closed on 18 June 2025. The price band of the IPO was set at Rs 114 to 120 per share. The IPO comprised fresh issue of 58,00,800 shares. The company intends to utilize the net proceeds for funding of capital expenditure towards setup of new manufacturing facility, repayment of a portion of certain borrowings availed by company and for general corporate purpose. Ahead of the IPO, Patil Automation on 13 June 2025, raised Rs 19.81 crore from anchor investors. The board allotted 16.51 lakh shares at Rs 120 per share to 11 anchor investor. Patil Automation is an automation solutions provider serving industrial clients, primarily in the automotive sector. The company is engaged in designing, manufacturing, testing and installation of customized automation systems such as welding lines (spot welding, MIG and TIG), assembly lines, material handling machineries and special-purpose machineries, tailored to meet the specific requirements of its client's production facilities. As of 31 March 2025, the company had a total of 244 permanent employees and 256 contractual employees. The company recorded revenue from operations of Rs 118.05 crore and net profit of Rs 11.70 crore for the period ended 31 March 2025. Powered by Capital Market - Live News |