Priti International Ltd. has announced public offering of 700800 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 525.60 lakhs. The company's initial public offer (IPO) will open on Monday, June 11, 2018 and is expected to close on Wednesday, June 13, 2018, subject to customary closing conditions. The IPO includes a fresh Issue of 700800 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. Priti International Ltd. anticipates using the proceeds of the issue for Purchase of Plant & Machinery and related civil work, 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.