Published on 9/03/2021 5:30:53 PM | Source: Dion Global Solutions Ltd

Anupam Rasayan India announces launch of initial public offering

Posted in IPO Analysis| #IPO #Anupam Rasayan India Ltd

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Anupam Rasayan India Ltd. has announced public offering of 13693694 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 545.00 per share. The gross proceeds of the issue are expected to be Rs 76,000.00 lakhs. The company's initial public offer (IPO) will open on 12 March 2021 and is expected to close on 16 March 2021, subject to customary closing conditions.

The price band of the issue has been fixed at Rs 553.00-555.00 per share. The IPO includes a fresh Issue of 13693694 Equity Shares of the Company at an price of Rs 555.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 27 shares with bids in multiples of 27. Anupam Rasayan India Ltd. anticipates using the proceeds of the issue for Repayment/prepayment of certain indebtedness availed by the Company (including accrued interest) General corporate purposes.

Axis Capital Ltd.,Ambit Private Limited,JM Financial Ltd.,IIFL Securities Limited as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.