Published on 25/10/2022 3:25:49 PM | Source: Dion Global Solutions Ltd

Rite Zone Chemcon In announces launch of initial public offering

Posted in IPO Analysis| #IPO

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Rite Zone Chemcon India Ltd. has announced public offering of 1195200 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 896.40 lakhs. The company's initial public offer (IPO) will open on 31 October 2022 and is expected to close on 02 November 2022, subject to customary closing conditions.

The IPO includes a fresh Issue of 1195200 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. Rite Zone Chemcon India Ltd. anticipates using the proceeds of the issue for . Expert Global Consultants Pvt. Ltd. as lead manager & SKYLINE FINANCIAL SERVICES PRIVATE LTD is the registrar, to the issue.