According to Shakun Polymers’ draft redherring prospectus (DRHP), the IPO comprises a fresh issue of stock worth ₹75 crore and an offer-for-sale of up to 18 lakh equity shares by the existing shareholders.

Shakun, a leading player in the field of compounds for the wire and cable market, plans to use the proceeds of the issue to set up a new unit for the manufacture of Halogen Free Flame Retardant compounds and for general corporate purposes. It has two manufacturing facilities in Halol district in Gujarat and one in Daman.

SME IPOs

Kolkata-based Five Core Electronics has filed a ₹46.66-crore IPO to float 33.33 lakh shares at a price of ₹140 a share. The IPO proceeds will be used for working capital of the company and its subsidiaries, repayment of unsecured loans of promoters/directors and general corporate purposes.

UH Zaveri has filed for an IPO to list its shares on the BSE-SME platform. The gem & jewellery company plans to raise ₹7.99 crore through the issue at ₹36 a share. It will issue 22.20 lakh shares to the public.

Milestone Furniture plans to raise ₹14.8365 crore by offering 32.97 lakh shares at a price of ₹45 a share.

The Mumbai based Milestone Furniture is engaged in the manufacture and marketing of interior and modular furniture.

Another SME company that will tap the market is E2E Networks. It plans to raise ₹21.99 crore through the issue at ₹57 a share. The issue comprises a fresh issue of 27.5 lakh shares and offer-for-sale of 11.08 lakh shares.

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