Sanco to debut on NSE's SME platform on Monday

Tags: Companies
Sanco Industries, a maker of PVC conduit pipes, will launch its initial public offer (IPO) on February 24, making it the fifth SME to list its shares on the NSE's EMERGE platform.

NSE's EMERGE is a dedicated platform that enables small and medium enterprises (SMEs) to raise funds and get listed as public entities.

Sanco, which has a manufacturing unit in Himachal Pradesh, has fixed its issue price at Rs 18 per share and is looking to raise Rs 4.32 crore from the IPO, the National Stock Exchange (NSE) said.

The IPO is scheduled to begin on February 24 and will close on February 26, it said.

Sanco had reported a profit after tax of nearly Rs 3 crore and a revenue of Rs 58.58 crore, for the financial year 2012-13.

Meanwhile, an increasing number of investors have taken to trading on the NSE through internet and mobile phones.

"The use of internet as a medium for trading by investors has been on the rise over the last few years," NSE, Chief Business Development, Ravi Varanasi said.

Presently, as much as 12 per cent of the total volume traded on the NSE cash market is done by investors through internet.

Citing the rising penetration of mobile phones including smartphones, Varanasi said use of this medium for trading on NSE by investors has seen a 100 per cent jump in the past one year.

According to data available with NSE, the average daily turnover from trading though mobile phones has risen from Rs 1.66 crore in 2010 to about Rs 1,242 crore in 2013. The data takes into account average daily turnover of both cash and derivative segment.

So far in 2014, the average daily turnover from mobile phone trading stands at Rs 1,780 crore.

"Adoption of mobile phones, particularly smartphones, for stock trading has also been really good," Varanasi said.

The NSE had started mobile trading which allows the investors to trade in the cash, derivatives or currency market through their mobile phones, while travelling anywhere in the country or abroad. Trades are facilitated through the exchange's registered brokers.

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