Ethos Ltd. announces launch of initial public offering
Ethos Ltd. has announced public offering of 5379108 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 868.00 per share. The gross proceeds of the issue are expected to be Rs 47,228.57 lakhs. The company's initial public offer (IPO) will open on 18 May 2022 and is expected to close on 20 May 2022, subject to customary closing conditions. The price band of the issue has been fixed at Rs 836.00-878.00 per share.
The IPO includes a fresh Issue of 5379108 Equity Shares of the Company at an price of Rs 878.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 17 shares with bids in multiples of 17. Ethos Ltd. anticipates using the proceeds of the issue for Repayment or prepayment, in full or in part, of all or certain borrowings availed by the Company Funding working capital requirements of the Company Financing the capital expenditure for (i) establishing new stores and renovation of certain existing stores and (ii) upgradation of enterprise resource planning software General corporate purpose. Emkay Global Financial Services Ltd.,INCRED CAPITAL WEALTH PORTFOLIO MANAGERS PVT. LTD. as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.
