The ICE Make Refrigeration IPO date has been confirmed to have started on November 28, 2017 and ended on November 30, 2017.
Using an IPO, ICE Make Refrigeration is seeking to raise Rs 23.71 crores. Its price band is set at ₹55 to ₹57 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹114,000.
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Bidding Dates
November 28-30
Price Range
₹55 to ₹57 per share
Face Value
₹10 per share
GMP
₹646.30
ICE Make Refrigeration IPO GMP
The ICE Make Refrigeration Limited IPO GMP is ₹646.30.
IPO Overview
The ICE Make IPO is a book-built offering for Rs 23.71 crores. Bidding for the ICE Make IPO began on November 28, 2017 and closed on November 30, 2017. On December 8, 2017, the shares were listed on the NSE SME. The price range for the ICE Make IPO is established at 55 to 57 cents per share. A lot size of 2000 shares is required for an application. Retail investors must make a minimum commitment of $140,000.
Key strengths
- Manufacturers of wide range of refrigeration equipments
- Providing customized solutions with a focus on after sales service
- Well established manufacturing facilities
- Strong marketing and distribution network
- Catering to clients from diverse sectors and industries
ICE Make Refrigeration IPO Details
| IPO Date | November 28, 2017 to November 30, 2017 |
| Listing Date | December 8, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹55 to ₹57 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 4,160,000 shares (aggregating up to ₹23.71 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
ICE Make IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹114,000 |
| Retail (Max) | 1 | 2000 | ₹114,000 |
ICE Make IPO Listing Details
| Listing Date | December 8, 2017 |
| BSE Script Code | |
| NSE Symbol | ICEMAKE |
| ISIN | INE520Y01019 |
| Final Issue Price | ₹57 per share |
Company Profile
ICE Make Refrigeration Ltd, founded in 1993, is an Ahmedabad, Gujarat-based producer of refrigeration equipment under the ‘Ice Make’ brand. Cooling solutions and accessories are provided by the company for usage in industries such as dairy, ice cream, food processing, agricultural, pharmaceuticals, cold chains, logistics, hospital, hotel, and retail, among others.
ICE Make classifies its business into the following 4 verticals:
- 1. Cold Room
- 2. Commercial Refrigeration
- 3. Industrial Refrigeration and
- 4. Transport Refrigeration.
Cold Room, Commercial Freezer, Chiller, Refrigerated Vehicle, and Ice Cream Hardener are the top five products of the company. Our Company’s manufacturing facilities are in Dantali, Gujarat, and our Wholly Owned Subsidiary’s manufacturing facilities are in Chennai, Tamil Nadu.
Registrar Info
| Name | Link Intime India Private Ltd |
| Phone number | +91-22-4918 6270 |
| Email ID | icemake.ipo@linkintime.co.in |
| Website | linkintime.co.in |
Contact Details
| Name | ICE Make Refrigeration Ltd |
| Phone number | +91 79 27540630 |
| Email ID | info@icemakeindia.com |
| Website | icemakeindia.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
