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Art Nirman SME IPO – Details and Review

Art Nirman has announced its SME IPO and the IPO is opened on 30-Sep for subscription.

Issue Details of Art Nirman  IPO:  

  • IPO Open :  30th Sep to 7th Oct 2016
  • Issue Price: Rs 25 per share
  • Issue Size:  Rs 5.01 crores
  • Minimum Bid – 6000 shares
  • Maximum Bid – 6000 shares
  • Minimum Investment:  Rs 150000
  • Book Running Lead Managers :  Hem Securities
  • Registrar – Sharex Dynamic
  • Listing: The shares will be listed on SME platform of NSE.

Background:

Art Nirman Ltd is Ahmedabad, Gujarat based real estate developer (Incorporated in 2011) involve in development of residential & commercial projects.

In 2013, company started construction of our first residential cum commercial project Shri Vishnudhara Cross Road in Ahmedabad and successfully completed in 2016. The project include of 5 towers containing total of 154 residential apartments of 2 and 3 BHK and 25 commercial shops, with a total built up area of 2,09,701 sq. ft. Company carry all the construction activities by subcontracting the project work to third party contractors.

Objective of the issue:

  • Working Capital requirements;
  • General Corporate Purposes;
  • Issue Expenses.

Pros & Cons: Will be updated soon.

Financials:Will be updated soon.

Valuation as compared to its peers: Will be updated soon.

Should you invest:   Will be updated soon.

Disclaimer:  The articles or analysis on this website should not be constituted as Investment advice. Please consult your financial advisor before making any investments.

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