Inflame Appliances get listed on BSE SME platform

Making its debut on the stock exchange on Friday, Inflame Appliances Limited became the 231 ^st  company to get listed on the BSE SME platform. 
  
The company raised funds worth Rs. 6.48 crore through the IPO of 12,00,000 equity shares of Rs. 10 each for a cash at a price of Rs. 54 per equity share. The company completed its public issue on March 8, 2018. The stock has a minimum order quantity of Rs. 2000 shares. 
  
Inflame Appliances Securities Limited  is a Solan based company whose registered office is at Himachal Pradesh. The company is engaged in the business of manufacturing of LPG Gas Stove/cooktops and Sheet Metal Components.  Mumbai based  Swastika Investmart Limited  was the lead manager for  Inflame Appliances  Limited. 
  
The company reported a tremendous increase in its net profit from Rs. 6.25 crore in FY16 to Rs. 45.85 crore in FY17, respectively. The company’s revenue also increased significantly from Rs. 391.56 crore in FY16 to Rs. 1,806.13 crore in FY17.   
  
The 231 companies listed on BSE SME Platform have raised Rs.2,041.23 crore from the market and total market capitalization of the  companies as on 16 ^th March, 2018 is 24,377.94 c rore. BSE heads the SME platform in India. It is the market leader in this segment with a market share of 65 per  cent.