13 Surat-Based Companies Resolve to Bring IPOs

Surat : Surat, renowned for its enterprising spirit, witnessed a landmark moment as 13 local companies announced their resolution to enter the stock market through Initial Public Offerings (IPOs). This declaration was made during the ‘IPOpreneurs 3.0′ program, a collaborative effort organized jointly by the Southern Gujarat Chamber of Commerce and Industry (SGCCI), Shri Saurashtra Patel Seva Samaj, and Samast Patidar Samaj Trust at Katargam in Surat.

The companies set to launch IPOs include Apple Lifestyle Industries Ltd., Cell Force Power Pvt. Ltd., IBL Finance Pvt. Ltd., Medart Technology Pvt. Ltd., Nutra Healthcare Pvt. Ltd., Petson Foods (India) Pvt. Ltd., Polysil Irrigation System Pvt. Ltd., Saptam Polyfilms Pvt. Ltd., Scape Techno Fab Ltd., Shree Radhe Dairy, Soham Industries Ltd., Zeal Pharmacure Pvt., and the founders of Alliance Fibers Ltd.

In a series of guidance sessions, the leaders of these organizations were enlightened about the nuances and stages of an IPO by prominent figures in the financial sector. CA Yogesh Jain, Director of Beeline Capital Advisors Pvt Ltd, Pradip Kanani, Director of Market Hub Stock Broking Pvt Ltd, and Milan Parikh, Director and Co-Founder of Jainam Broking Ltd, shared their insights and experiences, paving the way for these entrepreneurs’ IPO journeys.

“Gujaratis are enterprising, hardworking, so they have to get more knowledge about IPO and take their business to a higher level,” emphasized Veljibhai Sheta, president of Samast Patidar Samaj Trust. He highlighted that an increase in capital not only eases business operations but also empowers businesses to swiftly address challenges, big and small.

CA Yogesh Jain specifically addressed the benefits available for Micro, Small, and Medium Enterprises (MSMEs) planning IPOs, citing the Gujarat government’s subsidy of Rs. 5 lakh. This subsidy assists in covering the costs incurred while bringing the IPO to fruition, and after listing, it aids in furthering business growth.

Pradeep Kanani stressed the necessity of spreading awareness about IPOs in society, advocating for a proper understanding of market dynamics for success. Milan Parikh reiterated the importance of belief in oneself, the business, and its products within the stock market context, emphasizing the need for increasing net worth and network.

The event also featured a panel discussion involving National Stock Exchange Senior Manager CA Chetan Vyas, along with industry experts Manhar Saspara, Ghanshyam Lukhi, Nishith Lakhani, Bharat Limbani, and Bhaveen Shah. This was followed by an engaging Q&A session, where entrepreneurs had the opportunity to pose various queries, gaining valuable insights from the seasoned panelists.