Jainam Ferro Alloys announces launch of initial public offering
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Jainam Ferro Alloys (I) Ltd. has announced public offering of 2802000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 60.00 per share. The gross proceeds of the issue are expected to be Rs 1,961.40 lakhs. The company's initial public offer (IPO) will open on 28 September 2021 and is expected to close on 30 September 2021, subject to customary closing conditions.
The IPO includes a fresh Issue of 2802000 Equity Shares of the Company at an price of Rs 70.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 2000 shares with bids in multiples of 2000. Jainam Ferro Alloys (I) Ltd. anticipates using the proceeds of the issue for To meet Working Capital requirements General Corporate Purpose To meet offer related expenses. Hem Securities Ltd as lead manager & Bigshare Services Pvt. Ltd. is the registrar, to the issue.
