Shera Energy seeks to raise Rs 35 crore via IPO
Shera Energy Limited, engaged in the manufacturing of winding cables and strips from bobby, aluminium and brass, has proposed to open its original Public Offering( IPO) on February 7.
The company aims to garner Rs35.20 crore through IPO and shares will be listed on NSE crop platform. The issue size is over to 61,76,000equity shares out of which fresh issue will be over to 10,48,000equity shares and OFS (offer for trade) will be over to 51,28,000equity shares.
Naseem Shaikh, Chairman and Managing Director of the company, said that the net proceeds from the IPO will be utilised to meet working capital conditions and for general commercial purposes. “With adding demand for our products, we need working capital to fuel our growth and take the company to the coming position and IPO backing will help us,” he said.
The issue will close on February 9.
The company has formerly placed equity shares adding up to Rs10.08 crore in pre-IPO placement. Holani Consultants Private Limited is the Book Running Lead director to the issue. The company manufactures products of non-ferrous essence like bobby, aluminium and brass under one roof.
About Shera Energy Limited
Where great opportunities did not turn up in front of our eyes, so our minds sought them
Established in 2003, the Shera Group has been serving the electrical industry for over two decades. Shera’s pawprints reputably shine in the copper and aluminum winding wire and strips industry. With years of experience and wise insights for troubleshooting, our promoter and Managing Director. Mr. Sheikh Naseem has been instrumental for the company’s growth. His resolve to offer quality products at attractive prices has nurtured positive, long term and healthy relationships with our entire clientele.
Led by a team of impressive, passionate technocrats, the group has grown in revenue and size exponentially, and expanded its product range magnificently. Today, the company also manufactures copper and brass wire rods, wires and tubes, all customized for our buyers in various shapes and sizes, and with options of bare, paper covered and enameled wires. We have recently ventured into manufacturing special grade brass rods suitable to make bullet shells on account of demand in the ammunition industry of India.
“Every transaction is a choice that has alternates. Think. Optimize.” This is the motto of our finance director, Mrs. Shivani Sheikh, who has excelled in her corporate finance role, adding a systematic approach and financial discipline to this multimillionaire enterprise. Backed by innovation and consistent hard-work, the parent company, Shera Energy Limited, received a public limited company status on May 11, 2022.