Shine Fashions announces launch of initial public offering
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Shine Fashions (India) Ltd. has announced public offering of 399000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 30.00 per share.
The gross proceeds of the issue are expected to be Rs 159.60 lakhs. The company's initial public offer (IPO) will open on 22 October 2020 and is expected to close on 26 October 2020, subject to customary closing conditions.
The IPO includes a fresh Issue of 399000 Equity Shares of the Company at an price of Rs 40.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 3000 shares with bids in multiples of 3000. Shine Fashions (India) Ltd. anticipates using the proceeds of the issue for To meet Working Capital requirements General Corporate Purpose To meet issue expenses. Shreni Shares Pvt. Ltd. as lead manager & Cameo Corporate Services Ltd. is the registrar, to the issue.
