DRS Dilip Roadlines announces launch of initial public offering
19/11/2018 15:10
DRS Dilip Roadlines Ltd. has announced public offering of 4200000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 65.00 per share. The gross proceeds of the issue are expected to be Rs 3,150.00 lakhs.

The company's initial public offer (IPO) will open on 27 November 2018 and is expected to close on 30 November 2018, subject to customary closing conditions.

The IPO includes a fresh Issue of 4200000 Equity Shares of the Company at an price of Rs 75.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1600 shares with bids in multiples of 1600.

DRS Dilip Roadlines Ltd. anticipates using the proceeds of the issue for (a) Repayment of Unsecured Loans,(b) Setting up Additional Warehouse in the state of Telangana,(c) Acquiring Additional Branches for Expansion of business,(d) Part repayment of the Cash Credit facilities,(e) Part repayment of the term loans and,(f) General Corporate Purposes.

ARYAMAN FINANCIAL SERVICES LIMITED as lead manager & Bigshare Services Pvt Ltd. is the registrar, to the issue.