Ameenji Rubber's ₹30cr IPO opens today: Key details
Ameenji Rubber is opening its IPO today (September 26, 2024), aiming to raise ₹30 crore by offering 30 lakh shares at ₹95-100 each.
The IPO wraps up on September 30, with allotment set for October 1 and listing on the BSE SME platform on October 6.
The company specializes in manufacturing rubber products
Ameenji Rubber makes specialized rubber products—like elastomeric bridge bearings, POT-PTFE bearings, strip seal expansion joints, and industrial rubber sheets—for railways and infrastructure projects.
Their products are officially approved by MoRTH and registered with RDSO under the Ministry of Railways.
Financials and use of funds
The company's revenue grew to ₹84.24 crore in FY24 (up from ₹74.21 crore last year), with net profit rising to ₹4.31 crore.
Money from this IPO will go toward upgrading machinery, paying off debt, and general business needs.
If you're thinking of investing, you'll need to apply for at least 2,400 shares—about ₹2.4 lakh at the top price band—and right now there's no gray market premium, so big listing gains aren't expected.