Air conditioning firm Perfect Infraengineers on Friday became the 11th company to be listed on the NSE’s EMERGE - Small and Medium Enterprises (SME) platform.
The stock, which opened at ₹26, closed at ₹25.10 against the issue price of ₹23.
The company entered the capital market with an initial public offering (opened between October 30 and November 4) of 25.08 lakh equity shares, aggregating to ₹5.77 crore.
The company plans to utilise the funds to part-finance its long-term working capital requirements, invest in its subsidiary and meet expenses related to the issue.
Crisil had assigned it a rating of SME 4/5, indicating superior fundamentals for the company.
Book running lead managers to the issue are Keynote Corporate Services and Small Industries Development Bank of India. For the first time, the latter has acted as a merchant banker for a public issue by an SME.
Perfect Infraengineers is engaged in the business of air conditioners and providing all inclusive maintenance services to multinational and other Indian corporates.
In April this year, Veto Switchgears and Cables had migrated to the main-board from the SME segment.