‘SME’s initial share-sales are catching eyes of value investors’

Small and medium enterprises’ (SME’s) initial share-sales are catching up the eyes of value investors as Param Capital’s chairman Mukul Agarwal has picked up 6.87 per cent stake in the pre-IPO placement of Mohini Health and Hygiene Ltd, the merchant banker on Wednesday said.
Some of the recent marque investments in SMEs include investment by Madhusudhan Kela in IRIS Business, Porinju in RM Drip, Sunil Singhania in ANI Integrated, Ramesh Damani in Vadivare Speciality, Jaspal Bindra in One Point One Solutions, to name a few.
Besides, institutions have gradually started showing interest in the SME companies by investing in a few of them.
Mohini had filed draft papers for its proposed IPO of about Rs 26.51 crore (including pre-IPO placement) at NSE’s SME platform – Emerge – through book building route, Pantomath Capital Advisors said in a statement.
Proceeds raised will be utilised to meet long term working capital requirements and repayment of term loan.
Pantomath Capital and Small Industries Development Bank of India Ltd will manage the company’s public issue.