2 SME IPOs to open for subscription tomorrow. What you need to know

SME IPOs launching tomorrow –

Macfos IPO: The price band of the offer has been fixed at ₹96 to ₹102 per share. The issue is an SME issue, comprising of 2,328,000 equity shares of the face value of ₹10 aggregating up to ₹24 crore. The offer comprises an Offer for Sale (OFS) by the Selling Shareholders.

The company in its offer documents said that the selling shareholders will receive the entire proceeds from the OFS and the company will not receive any part of the proceeds of the issue. The shares of the company are expected to list on BSE SME on March 1, 2023. Bigshare Services Pvt Ltd is the registrar of the issue.

Sealmatic India IPO: According to the prospectus filed with BSE SME, 24,99,600 equity shares are offered at a price band of ₹220 to ₹225 per equity share. The ₹56 crore issue would comprise a fresh issue of up to 18,50,00 equity shares aggregating to ₹41.6 crore to fund expansion plan and an offer for sale (OFS) of up to 6,49,600 equity shares aggregating to ₹14.6 crore. The gross proceeds of the issue will be employed for the purchase of Plant and Machinery, Product & Sales Development, and other corporate purposes.

Incorporated in 2009, Sealmatic is a manufacturer of mechanical seals with domestic and international customers in over 45 countries. Sealmatic mechanical seals are supplied to industry leaders in oil & gas, refinery, petrochemical, chemical, pharmaceutical, fertiliser, power, mining, pulp & paper, aerospace, marine, and other industries.