ICL Multitrading announces launch of initial public offering
16/11/2018 11:20
ICL Multitrading India Ltd. has announced public offering of 2100800 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 75.00 per share. The gross proceeds of the issue are expected to be Rs 1,785.68 lakhs.

The company's initial public offer (IPO) will open on 19 November 2018 and is expected to close on 22 November 2018, subject to customary closing conditions.

The IPO includes a fresh Issue of 2100800 Equity Shares of the Company at an price of Rs 85.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1600 shares with bids in multiples of 1600.

ICL Multitrading India Ltd. anticipates using the proceeds of the issue for To meet out the Working Capital requirements of the Company, Branding & Advertising Expenses, General Corporate Purposes; and, Issue Expenses.

Corporate Capitalventures Pvt. Ltd. as lead manager & Bigshare Services Pvt Ltd. is the registrar, to the issue.