ICE Make Refrigeration Ltd is engaged in manufacturer of refrigeration equipment under the brand of ‘Ice Make’. It is Ahmedabad, Gujrat based company. This company provides cooling solutions for cooling systems and accessories used in industries such as dairy, ice-cream, food processing, agriculture, pharmaceuticals, cold chains, logistics, hospital, hospitality and retail, among others. On November 28th their initial public offering will be open for subscription. So let me take you through the ICE Make Refrigeration Ltd IPO review with an critic eye on the date, price and draft prospectus of the issue.
About ICE Make Refrigeration Ltd IPO :
- IPO Opens on – November 28, 2017.
- IPO Closes on – November 30, 2017.
- Face Value – Rs 10 Per Equity Share.
- Issue Price – Rs 55 – Rs 57 Per Equity Share.
- Issue Type – Book Built Issue IPO.
- Minimum Lot – 2,000 shares.
- Retail Allocation – 50%
- Issue Size – 4,160,000 Equity Shares of Rs 10 aggregating up to Rs 23.71 Cr .
- Listing Exchange – NSE SME exchange.
- Draft Prospectus – Click Here.
Objectives of the issue:
- To finance the capital expenditure.
- Expenditure towards enhancement of brand through brand building activities.
- Investment in Bharat Refrigerations Private Limited (Wholly Owned Subsidiary).
- To meet the incremental working capital requirement.
- General Corporate Purposes.
About The Company –
- ICE Make Refrigeration Ltd is incorporated in 1993.
- This company classifies its business into the following 4 verticals: (i) Cold Room (ii) Commercial Refrigeration (iii) Industrial Refrigeration and (iv) Transport Refrigeration.
- Top 5 products of this company are Cold Room, Commercial Freezer, Chiller, Refrigerated Vehicle and Ice Cream Hardener.
- This company Providing customized solutions with a focus on after sales service.
- The manufacturing facilities of Ice Make Refrigeration ltd are located at Dantali, Gujarat and the manufacturing facilities of its wholly owned Subsidiary are located at Chennai, Tamil Nadu.
- The dealers and associates of the company are present in the cities of Bikaner, Cochin, Cuttack, Goa, Hubli, Jodhpur, Kolhapur, Kolkata, Nagpur, Patna, Pune, Pondicherry, Trivandrum, Kathmandu and Colombo.
- ICE Make Refrigeration Ltd is provide strong marketing and distribution network.
Promoters of the company :
- Mr. Chandrakant P. Patel.
- Mr. Rajendra P. Patel.
- Mr. Vipul I. Patel
ICE Make Refrigeration Ltd IPO Review: The financial data shows an increase in both revenue and profitability year on year. The business model is attractive with ample chance to grow with increasing demand for refrigeration. Hence our ICE Make Refrigeration Ltd IPO review has a NEUTRAL view on this issue with a POSITIVE bias. Apply if you are sitting on surplus cash with a medium to long-term view.
Categories: IPO Review