Faalcon Concepts IPO booked 89% so far on Day 1. Check GMP and other details

The SME IPO of Faalcon Concepts was subscribed 89% on the first day of the bidding process. The issue received bids for 16.5 lakh shares against 18.5 lakh shares on offer.

The category reserved for NII investors was subscribed 40%, while that of retail investors was booked 1.3 times. The issue closes on April 23. About 50% of the offer is reserved for retail investors and 50% for other investors.

The IPO is entirely a fresh equity issue of 19.5 lakh shares and through the issue, the company aims to raise nearly Rs 12 crore. The company is offering its shares at Rs 62 apiece, and investors can bid for 2000 shares in 1 lot


In the unlisted market, the company's shares have no GMP, indicating a flat listing if the trend sustains.

Faalcon Concepts is engaged in the designing, engineering, fabrication, and installation of façade systems. The company said it believes in offering solutions to customers for their requirement of façade installation in complex projects. It also specialises in technically demanding facades.


Also Read: Faalcon Concepts IPO opens today. Check issue size, price band, GMP and other details

The India facade market size reached $2,638.2 million in 2022. The market is expected to reach $4,254.5 million by 2028, exhibiting a growth rate (CAGR) of 8.23% during 2023-2028.

For the period ended December 2023, the company clocked revenues of Rs 12.46 crore and net profit of Rs 1.31 crore.

The net proceeds from the issue will be used to finance the capital expenditure for purchasing facade structural experiments, working capital requirements, and general corporate purposes.

The IPO opened on April 19 and will close on April 23. The final allotment will likely be made on April 24. The company's shares will likely get listed on April 26.

Navigant Corporate Advisors is the lead manager to the issue and Beetal Financial and Computer Services is the registrar.