BEW Engineering announces launch of initial public offering
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BEW Engineering Ltd. has announced public offering of 684000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 48.00 per share. The gross proceeds of the issue are expected to be Rs 396.72 lakhs. The company's initial public offer (IPO) will open on 02 September 2021 and is expected to close on 07 September 2021, subject to customary closing conditions.
The IPO includes a fresh Issue of 684000 Equity Shares of the Company at an price of Rs 58.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 2000 shares with bids in multiples of 2000. BEW Engineering Ltd. anticipates using the proceeds of the issue for Meeting additional Working Capital Requirements, and General Corporate Purpose. FIRST OVERSEAS CAPITAL LIMITED as lead manager & Bigshare Services Pvt. Ltd. is the registrar, to the issue
