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    590031   INE244A01016

DE NORA INDIA LIMITED

(590031)
  Report
End-of-day quote Bombay Stock Exchange  -  2022-09-28
750.25 INR   -0.24%
09/25Factbox: Companies potentially affected by Italy's election
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09/20Companies potentially affected by Italy's election
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09/20DE NORA INDIA LIMITED : Ex-dividend day for final dividend
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Italy's De Nora shares fall on market debut

06/30/2022 | 03:23am EDT
FILE PHOTO: Illustration shows De Nora's logo

ROME (Reuters) - Shares in Italy's Industrie De Nora fell more than 2% on Thursday as the group became the first company to list on Italy's main market since Russia's invasion of Ukraine.

Electrode maker De Nora had priced its IPO at 13.50 euros per share, at the bottom of its price range, valuing the 2.7 billion euros ($2.9 billion).

After opening down 0.6% at 13.40 euros, the shares extended losses and were down 2% at 0710 GMT, underperforming Milan's all-share index, down 1.4%.

The company is getting 200 million euros in fresh funds while existing shareholders including its founding family and Italian gas grid operator Snam will pocket 345 million.

Founded in 1923, the group is a leading manufacturer of electrodes for devices such as rechargeable batteries and also makes systems for water filtration and wastewater treatment as well as components to produce green hydrogen.

The Garrone Mondini family, which controls Italian energy company ERG, and the family office of Ruthi Wertheimer, which specialises in minority long-term investments in advanced technology industrial firms led by families and entrepreneurs, each pledged to invest up to 100 million euros in the IPO.

Rothschild is acting as advisor of San Quirico, the Garrone family's holding company.

(Reporting by Francesco Zecchini, writing by Keith Weir, editing by Giulia Segreti)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DE NORA INDIA LIMITED -0.24% 750.25 End-of-day quote.63.13%
GREEN HYDROGEN SYSTEMS A/S -2.59% 13.54 Delayed Quote.-59.53%
ROTHSCHILD & CO -2.22% 33 Real-time Quote.-16.36%
SNAM S.P.A. -1.18% 4.195 Delayed Quote.-19.91%
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09/25Factbox: Companies potentially affected by Italy's election
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Financials
Sales 2022 745 M 9,12 M 9,12 M
Net income 2022 155 M 1,89 M 1,89 M
Net cash 2022 371 M 4,54 M 4,54 M
P/E ratio 2022 13,7x
Yield 2022 0,25%
Capitalization 3 983 M 48,8 M 48,8 M
EV / Sales 2021 2,10x
EV / Sales 2022 2,35x
Nbr of Employees 54
Free-Float 40,4%
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Income Statement Evolution
Managers and Directors
Vinay Chopra Managing Director & Executive Director
Deepak Nagvekar Chief Financial Officer
Satish Ramchandra Dhume Chairman
Shrikant Pai Secretary & Compliance Officer
Supriya Naredra Nath Banerji Independent Non-Executive Director
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