Shreeoswal Seeds announces launch of initial public offering
07/06/2018 18:22
Shreeoswal Seeds and Chemicals Ltd. has announced public offering of 4576000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 16.00 per share. The gross proceeds of the issue are expected to be Rs 1,189.76 lakhs.

The company's initial public offer (IPO) will open on Thursday, June 7, 2018 and is expected to close on Tuesday, June 12, 2018, subject to customary closing conditions. The price band of the issue has been fixed at Rs 25.00-26.00 per share.

The IPO includes a fresh Issue of 4576000 Equity Shares of the Company at an price of Rs 26.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 4000 shares with bids in multiples of 4000.

Shreeoswal Seeds and Chemicals Ltd. anticipates using the proceeds of the issue for Purchase of New Plant & Machinery, Funding the working capital requirements of the Company, General corporate purposes.

Pantomath Capital Advisors Pvt. Ltd. as lead manager & Bigshare Services Pvt Ltd. is the registrar, to the issue.