Earthstahl & Alloys announces launch of initial public offering
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Earthstahl & Alloys Ltd. has announced public offering of 3240000 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 1,296.00 lakhs. The company's initial public offer (IPO) will open on 27 January 2023 and is expected to close on 31 January 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 38.00-40.00 per share. The IPO includes a fresh Issue of 3240000 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. Earthstahl & Alloys Ltd. anticipates using the proceeds of the issue for . Hem Securities Ltd. as lead manager & Bigshare Services Private Limited. is the registrar, to the issue.
