Business Economy


Ameenji Rubber debts on BSE SME Exchange with over 2.12X times subscription

Hyderabad, Oct 6 (UNI) Ameenji Rubber Ltd., a leading manufacturer of industrial rubber engineering products such as bridges bearings, expansion joints and various kinds of rubber pads, made its debut on the BSE SME Exchange, on Monday.
Manufacturing of industrial rubber products for railways, infrastructure and construction sectors, the Hyderabad-based company’s shares were listed following a successful SME Initial Public Offering (IPO) that received strong investor interest, with over 2.12x times subscription, a release said here.
The symbolic bell-ringing ceremony was held at the Bombay Stock Exchange (BSE) office in Hyderabad, marking the commencement of trading of Ameenji Rubber Ltd.’s equity shares.
This was the first-ever bell ringing ceremony held at the Hyderabad office of BSE.
Mr. Mufaddal Deesawala (Ameenji), Chairman & Managing Director of Ameenji Rubber Ltd., led the ceremony in the presence of company executives, investors and members of the exchange.
The company had floated its SME IPO with a price band of INR 95 – 100 per share, successfully raising INR 30 crore through the sale of 30,00,000 equity shares at the upper end of the price band.
Speaking on the occasion, Mr. Mufaddal Deesawala (Ameenji), Chairman & Managing Director said, “The overwhelming investor response to our IPO reinforces confidence in our vision and business fundamentals. We remain committed to driving innovation, quality and sustainability in our products while delivering consistent value to our shareholders.”
Ameenji Rubber is manufacturer of industrial rubber products for railways, infrastructure and construction sectors.
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