Powerful Technologies announces launch of initial public offering
07/08/2018 14:17
Powerful Technologies Ltd. has announced public offering of 2656000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 41.00 per share. The gross proceeds of the issue are expected to be Rs 1,354.56 lakhs.

The company's initial public offer (IPO) will open on 09 August 2018 and is expected to close on 24 August 2018, subject to customary closing conditions.

The IPO includes a fresh Issue of 2656000 Equity Shares of the Company at an price of Rs 51.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 2000 shares with bids in multiples of 2000.

Powerful Technologies Ltd. anticipates using the proceeds of the issue for To meet the working capital requirements of the Company Issue Expenses  .

Finshore Management Services Ltd. as lead manager & is the registrar, to the issue.