Raw Edge Industrial Solutions Ltd. has announced public offering of 2291200 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 62.00 per share. The gross proceeds of the issue are expected to be Rs 1,649.66 lakhs. The company's initial public offer (IPO) will open on 05 July 2018 and is expected to close on 10 July 2018, subject to customary closing conditions. The IPO includes a fresh Issue of 2291200 Equity Shares of the Company at an price of Rs 72.00 per Equity Share.
The company has fixed the minimum bid lot for the issue at 1600 shares with bids in multiples of 1600. Raw Edge Industrial Solutions Ltd. anticipates using the proceeds of the issue for Expansion by setting up Manufacturing Unit, Working Capital Margin, General Corporate Purpose, Meeting Public Issue Expenses. Guiness Corporate Advisors Pvt. Ltd. as lead manager & Bigshare Services Pvt Ltd. is the registrar, to the issue.