Adishakti Loha announces launch of initial public offering
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Adishakti Loha and Ispat Ltd. has announced public offering of 1820000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 1.00 per share. The gross proceeds of the issue are expected to be Rs 200.20 lakhs. The company's initial public offer (IPO) will open on 30 September 2021 and is expected to close on 05 October 2021, subject to customary closing conditions. The IPO includes a fresh Issue of 1820000 Equity Shares of the Company at an price of Rs 11.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 10000 shares with bids in multiples of 10000. Adishakti Loha and Ispat Ltd. anticipates using the proceeds of the issue for a To meet the incremental working capital requirements b To meet General Corporate Purpose The Objects Clause of the Memorandum and Articles of Association of the Company enables it to undertake the activities for which the funds are to be raised in the present Issue. Turnaround Corporate Advisors Pvt. Ltd. as lead manager & Bigshare Services Pvt. Ltd. is the registrar, to the issue.
