Published on 10/07/2018 12:56:38 PM | Source: Dion Global Solutions Ltd

Supershakti Metaliks announces launch of initial public offering

Posted in IPO More News| #IPO

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Supershakti Metaliks Ltd. has announced public offering of 1600200 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 365.00 per share. The gross proceeds of the issue are expected to be Rs 6,000.75 lakhs. The company's initial public offer (IPO) will open on 17 July 2018 and is expected to close on 20 July 2018, subject to customary closing conditions.

The IPO includes a fresh Issue of 1600200 Equity Shares of the Company at an price of Rs 375.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 300 shares with bids in multiples of 300. Supershakti Metaliks Ltd. anticipates using the proceeds of the issue for (a) Working Capital Requirements,(b) Funding expenditure for General Corporate Purposes. ARYAMAN FINANCIAL SERVICES LIMITED as lead manager & is the registrar, to the issue.