Sai Infinium IPO: Sai Infinium needs to boost cash by its IPO. The corporate has filed draft papers close to the Capital Market Regulator SEBI for this. The IPO could have just one.96 crore new fairness shares. There can be no supply on the market. The corporate is within the enterprise of producing of TMT Bar and MS Billets and recycling of ship. It was included in 2004. The corporate was beforehand often known as Sai Bandhan Infinium. On March 30, 2024, Sai Infinium and Fidelis Worldwide merged. The manufacturing plant of Sai Infinium is in Bhavnagar, Gujarat. It has an put in capability of 300 MT per 8 hours shifts for the manufacturing of TMT bar and MS billets. It produces MS billets from iron and metal scrap. These MS billets are then used to make TMT bar. Iron and metal scrap comes from the corporate’s ship recycling unit and outside suppliers. How will the cash of IPO be used for utilizing the cash acquired from its IPO, a 17.4 MW hybrid energy plant costing Rs 130 crore and gentle metal (MS) price of Rs 65 crore. As well as, Rs 19 crore can be used for the acquisition of cargo vessel (ship-coursica) for the ship braking plant. The remaining cash can be used for common company functions. Sarathi Capital Advisors have been appointed as Ebook Operating Lead Supervisor for IPO.
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