Published on 18/02/2021 11:12:00 AM | Source: Dion Global Solutions Ltd

Party Cruisers announces launch of initial public offering

Posted in Top Stories| #IPO

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Party Cruisers Ltd. has announced public offering of 1520000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 41.00 per share. The gross proceeds of the issue are expected to be Rs 775.20 lakhs. The company's initial public offer (IPO) will open on 22 February 2021 and is expected to close on 25 February 2021, subject to customary closing conditions. The IPO includes a fresh Issue of 1520000 Equity Shares of the Company at an price of Rs 51.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 2000 shares with bids in multiples of 2000. Party Cruisers Ltd. anticipates using the proceeds of the issue for ) Expansion of Business through strategic investment) Additional Working Capital) General Corporate Expenses) To meet the expenses of the Issue. FIRST OVERSEAS CAPITAL LIMITED as lead manager & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.