Accuracy Shipping announces launch of initial public offering
07/06/2018 18:22
Accuracy Shipping Ltd. has announced public offering of 4257600 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 74.00 per share. The gross proceeds of the issue are expected to be Rs 3,576.38 lakhs.

The company's initial public offer (IPO) will open on Monday, June 11, 2018 and is expected to close on Thursday, June 14, 2018, subject to customary closing conditions. The price band of the issue has been fixed at Rs 81.00-84.00 per share.

The IPO includes a fresh Issue of 4257600 Equity Shares of the Company at an price of Rs 84.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1600 shares with bids in multiples of 1600.

Accuracy Shipping Ltd. anticipates using the proceeds of the issue for Part repayment/prepayment of certain secured borrowings availed by the Company, Purchase of goods transportation vehicle, Funding the working capital requirements of the Company, General corporate purposes.

Pantomath Capital Advisors Pvt. Ltd. as lead manager & Link Intime India Pvt. Ltd. is the registrar, to the issue.