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Shriro is set to be publicly listed on the Australian Securities Exchange (ASX) on 23 June 2015 after its successful initial public offering (IPO) closed early and over-subscribed.

Shriro, advised by Wilson HTM Corporate Finance and ANZ Securities, spent the last two weeks meeting with Australian fund managers. According to a statement released by the company today, during the two week roadshow applications were received for $200 million worth of stock but the company, which will have capitalisation of more than $100 million, will stay with its intended raising of $50 million.

Shriro Holdings Limited will issue of 50.5 million new shares at $1 per share. The $50.5 million raising equates to 53 per cent of the issued capital of the company, which expects to list its shares next month.

The Shriro showroom is home to Omega, Blanco, Everdure and, later this year, the new Neil Perry Kitchen by Omega label.
The Shriro showroom in Sydney is home to Omega, Blanco, Everdure and, later this year, the new Neil Perry Kitchen by Omega label.

The company’s quick expansion, driven by strong housing approvals and a strong renovation market, is behind its decision to go public.

Shriro’s Net Profit after Tax (NPAT) is forecast to grow from $8.9 million to $10.0 million in the 2015 financial year on revenue of $187 million, up from $177 million.

Shriro’s company-owned brands — Omega, Robinhood, Everdure and Omega Altise — now contribute 45 per cent of the company’s revenue. Its product range cover ovens, rangehoods, dishwashers, microwaves and cooktops. Shriro also distributes third party owned brands Casio, Blanco and Pioneer.

Related: Inside the Stylish Shriro Showroom 
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