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ICE Make Refrigeration Ltd IPO (ICE Make IPO) Detail

November 28, 2017 - November 30, 2017

ICE Make IPO is a book built issue of Rs 23.71 crores.

ICE Make IPO bidding started from November 28, 2017 and ended on November 30, 2017. The shares got listed on NSE SME on December 8, 2017.

ICE Make IPO 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.

Vivro Financial Services Private Limited is the book running lead manager of the ICE Make IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to ICE Make IPO RHP for detailed information.

ICE Make 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 Size4,160,000 shares
(aggregating up to ₹23.71 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME

ICE Make IPO Reservation

ICE Make IPO offers 4,160,000 shares. 2,080,000 (50.00%) to NII, 2,080,000 (50.00%) to RII.

Investor Category Shares Offered
Anchor Investor Shares Offered-
Market Maker Shares Offered--
NII (HNI) Shares Offered2,080,000 (50.00%)
Retail Shares Offered2,080,000 (50.00%)
Total Shares Offered4,160,000 (100%)

ICE Make IPO Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 2000 ₹114,000
Retail (Max) 1 2000 ₹114,000
Lot Size Calculator

About ICE Make Refrigeration Ltd

Incorporated in 1993, ICE Make Refrigeration Ltd is Ahmedabad, Gujrat based manufacturer of refrigeration equipment under the brand of 'Ice Make'. Company provide cooling solutions for cooling systems and accessories used in industries such as dairy, ice-cream, food processing, agriculture, pharmaceuticals, cold chains, logistics, hospital, hospitality 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.

Company's top 5 products are Cold Room, Commercial Freezer, Chiller, Refrigerated Vehicle and Ice Cream Hardener.

The manufacturing facilities of our Company are located at Dantali, Gujarat and the manufacturing facilities of our Wholly Owned Subsidiary are located at Chennai, Tamil Nadu.

Key strengths
1. Manufacturers of wide range of refrigeration equipments
2. Providing customized solutions with a focus on after sales service
3. Well established manufacturing facilities
4. Strong marketing and distribution network
5. Catering to clients from diverse sectors and industries

Objects of the Issue (ICE Make IPO Objectives)

The proceeds of the Issue are proposed to be deployed for financing the following objects:
1. To finance the capital expenditure;
2. Expenditure towards enhancement of brand through brand building activities;
3. Investment in Bharat Refrigerations Private Limited (Wholly Owned Subsidiary);
4. To meet the incremental working capital requirement;
5. General Corporate Purposes.

ICE Make IPO Review (Apply)

[Dilip Davda]  Considering the status enjoyed by this company among creamy customers and proven track record, investors may consider investment for medium to long term. It is set to create fancy post listing as the first mover in the segment. (Subscribe). Read detail review...

ICE Make IPO Subscription Status (Bidding Detail)

The ICE Make IPO is subscribed 260.63 times on November 30, 2017 5:00:00 PM. The public issue subscribed 140.84 times in the retail category, times in the QIB category, and 378.67 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

ICE Make IPO Prospectus

ICE Make IPO Rating

Rating:Rated 4.1 stars
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ICE Make IPO Listing Details

Listing Date December 8, 2017
BSE Script Code
ISIN INE520Y01019
Final Issue Price ₹57 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

Check IPO Performance…

ICE Make Refrigeration Ltd Contact Details

ICE Make Refrigeration Ltd
B-1, Vasupujya Chamber, Near Navdeep Building,
Income-Tax Cross Road,
Ahmedabad 380009
Phone: +91 79 27540630

ICE Make IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270

ICE Make IPO - Buy or Not

ICE Make IPO Recommendation Summary

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Members 0 0 0

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ICE Make IPO is a SME IPO of 4,160,000 equity shares of the face value of ₹10 aggregating up to ₹23.71 Crores. The issue is priced at ₹55 to ₹57 per share. The minimum order quantity is 2000 Shares.

The IPO opens on November 28, 2017, and closes on November 30, 2017.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

The ICE Make IPO opens on November 28, 2017 and closes on November 30, 2017.

ICE Make IPO lot size is 2000 Shares, and the minimum amount required is ₹114,000.

You can apply in ICE Make IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for ICE Make IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the ICE Make IPO allotment status.

The ICE Make IPO listing date is on December 8, 2017.
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ICE Make IPO Message Board

Ranked Members of Forum  Ranked Members | Members with Most Likes



335. NISSAN PATEL |   Link |  Bookmark |December 31, 2017 5:28:26 PM
What is the view on Ice Make?

i have 1 lot @ 85
334. indravarma |   Link |  Bookmark |December 18, 2017 11:47:29 PM
This should start Moving up soon.
Logic: Total Number of lots in IPO----approx 2080
Total Number of Lots taken on Delivery till 18th Dec ----- 2163 (taking 50% Delivery every day)
Looks like weak hands are gone.
334.1. NISSAN PATEL |   Link |  Bookmark |December 19, 2017 7:44:15 PM
I have 1 lot @ what is your target for next 6 to 9 month?
334.2. indravarma |   Link |  Bookmark |December 19, 2017 8:41:15 PM
Positives for this Company
I believe it will atleast double in one year.
1.Consistently growing company
2.Money will be used for subsidiary
3.Money will be used for Capex
4. we are in Tropical country.we need cooling solutions
5.No comparable Peer
6.Increase in disposable income of Population leads to new food habits which is mostly frozen foods ( If you see in developed world they have lot of frozen food iles)
and many more.

I believe this will have a good long term story.
Disc: I hold one lot brought @95
333. NISSAN PATEL |   Link |  Bookmark |December 19, 2017 7:46:07 PM
Iss sme stock me HNI and FII aa sakte hai kya?
332. Shivajee |   Link |  Bookmark |December 15, 2017 2:01:11 PM (700+ Posts, 100+ Likes)
Who are the specialist in SME IPO subject.
331. BRAJESH |   Link |  Bookmark |December 15, 2017 7:44:37 AM
Wait for a week, it''s go upto @125
330. K...... |   Link |  Bookmark |December 14, 2017 7:31:31 PM
Tomorrow closing above 100
329. Nilesh Parekh |   Link |  Bookmark |December 14, 2017 10:14:11 AM
It is going down. One should exist from the stock.
328. mickyS |   Link |  Bookmark |December 14, 2017 7:47:48 AM
who told you about this high level manipulation. Are you an inside trader
327. SecTheta |   Link |  Bookmark |December 13, 2017 10:30:50 PM
High level manipulation are going on... DONT buy at these levels... This should come down to 75-78 levels in a few days if you want to buy for long term. Its trend is like ACCORD which is trading below issue price at the moment!
326. MONSTER |   Link |  Bookmark |December 13, 2017 10:19:18 AM
is it worth buying at 105 or I can get it in lower price till friday?
326.1. indravarma |   Link |  Bookmark |December 13, 2017 9:36:05 PM
you will get it at lower price.
I am waiting too.
day 1---no volume---uc
day 2--little volume---uc
day 3--very high volume lot of fluctuation and ended UC( 46% Delivery-means Traders pushed it up)
day4- Lot fluctuation and ended below days opening
day5 (13/12/17)-panic starts and Lot of retail investors will offload their holding
325. Harish kumar kumar |   Link |  Bookmark |December 13, 2017 1:56:05 PM
What now
324. U. H. U. U |   Link |  Bookmark |December 12, 2017 8:44:26 AM
Hold on circuit is coming. If you want to play safe sell at circuit.
324.2. Harish kumar kumar |   Link |  Bookmark |December 12, 2017 8:26:35 PM
Mere pass 1 lot h sale or hold pls suggest
324.3. Sanjaykolkata |   Link |  Bookmark |December 29, 2017 6:39:01 PM
Hi Umang bought cadsys at 107 some days BV back it doing fairly ok now I bought ice make at 111 today what''s your opinion
323. Meha Patel |   Link |  Bookmark |December 12, 2017 7:53:58 PM
how can i buy this shares??
this is not available on ICICI Direct. if i would like to buy \.. what to do???
322. IPOTRIER |   Link |  Bookmark |December 12, 2017 8:25:55 AM
321. SANJAYVASHI |   Link |  Bookmark |December 12, 2017 5:53:53 AM
I will hold this Gem for an year. Long term capital gain + Multiple times return.
320. Harish kumar kumar |   Link |  Bookmark |December 11, 2017 7:19:04 PM
Kitne uc aur pending h
320.1. K...... |   Link |  Bookmark |December 11, 2017 7:45:33 PM
This week possibly.. i think it is better to sell on after Thursday.. still huge buying volume was there.. sell it on friday or Monday there will be 5 percent circuit
319. P.K. Gohil |   Link |  Bookmark |December 11, 2017 12:22:23 PM
1 application allotted to me, its second day of buyer, what should i do, whats the exception..? experts please give your expert opinion..thanks in advance
319.1. Technical Bull |   Link |  Bookmark |December 11, 2017 12:37:03 PM
I suggest u to hold until it comes to normal trading. 1-2 more UCs expected.
319.2. U. H. U. U |   Link |  Bookmark |December 11, 2017 7:25:39 PM
Don''t sell tommorow, on Wednesday 10% circuit will be applicable.
Based on tommorow''s volume and delivery figure take decision on Wednesday, whether to sell or not.

I think on Wednesday also there will be 10 % UC
318. kyurC |   Link |  Bookmark |December 11, 2017 5:02:33 PM
SMVD Ploy Pack Limited SME IPO opoen on 13th dec.
317. kyurC |   Link |  Bookmark |December 11, 2017 4:58:41 PM
Hold it for tomorrow, UC for sure.
316. surjeeth |   Link |  Bookmark |December 11, 2017 9:25:38 AM
Can it touch 100 mark in this week?