Ahlada Engineers announces launch of initial public offering
03/09/2018 15:10
Ahlada Engineers Ltd. has announced public offering of 3405000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 140.00 per share. The gross proceeds of the issue are expected to be Rs 5,107.50 lakhs.

The company's initial public offer (IPO) will open on 11 September 2018 and is expected to close on 18 September 2018, subject to customary closing conditions. The price band of the issue has been fixed at Rs 147.00-150.00 per share.

The IPO includes a fresh Issue of 3405000 Equity Shares of the Company at an price of Rs 150.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1000 shares with bids in multiples of 1000.

Ahlada Engineers Ltd. anticipates using the proceeds of the issue for Repayment of certain identified loans availed from lenders, Directors and the Promoter, Purchase of Machinery/Equipment, Funding of Working Capital Gap, General Corporate Purposes.

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