Consumer electronics products supplier Wiscon Industries' maiden public issue managed to sail through on October 29, the final day of bidding, supported by qualified institutional buyers (QIBs).
Wiscon Industries is expected to finalise the IPO share allotment by October 30, while its equity shares are scheduled to list on the BSE SME platform on November 3.
The IPO comprises a fresh issue of 10.78 lakh equity shares and an offer-for-sale (OFS) of 53.92 lakh shares by promoter Sidhant Dalmia.
The company distributes consumer electronics products, including LED TVs, air coolers, washing machines and air conditioners, under its flagship Wiscon brand, catering to both business-to-business (B2B) and business-to-consumer (B2C) customers in India. It also sells electric scooters under a third-party brand.
Wiscon Industries plans to utilise Rs 15.03 crore from the net proceeds of the fresh issue to invest in its subsidiary, Dalmia Technologies, to finance capital expenditure on plant and machinery. Another Rs 35 crore will be used to fund the subsidiary's incremental working capital requirements.