Published on 25/04/2019 4:30:19 PM | Source: Dion Global Solutions Ltd

Cian Healthcare announces launch of initial public offering

Posted in Top Stories| #IPO

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Cian Healthcare Ltd. has announced public offering of 6216000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 55.00 per share. The gross proceeds of the issue are expected to be Rs 4,040.40 lakhs. The company's initial public offer (IPO) will open on 02 May 2019 and is expected to close on 09 May 2019, subject to customary closing conditions. The price band of the issue has been fixed at Rs 61.00-65.00 per share. The IPO includes a fresh Issue of 6216000 Equity Shares of the Company at an price of Rs 65.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 2000 shares with bids in multiples of 2000.

Cian Healthcare Ltd. anticipates using the proceeds of the issue for Upgradation of existing plant ie Unit situated at Roorkee, Uttarakhand, India, Margin Money for Setting up of manufacturing facility ie Unit situated at Roorkee, Uttarakhand, India, Enhancement of the Company’s brand through advertising and other brandbuilding activities, Long term working capital requirements, Acquisitions and other strategic initiatives, General corporate purposes. Fedex Securities Ltd. as lead manager & Bigshare Services Pvt Ltd. is the registrar, to the issue.