Rangoli Tradecomm announces launch of initial public offering
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angoli Tradecomm Ltd. has announced public offering of 2181000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 197.00 per share. The gross proceeds of the issue are expected to be Rs 4,514.67 lakhs. The company's initial public offer (IPO) will open on 09 March 2021 and is expected to close on 12 March 2021, subject to customary closing conditions. The IPO includes a fresh Issue of 2181000 Equity Shares of the Company at an price of Rs 207.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 600 shares with bids in multiples of 600. Rangoli Tradecomm Ltd. anticipates using the proceeds of the issue for Meeting Working Capital Requirements General corporate purposes. Fedex Securities Private Limited as lead manager & Bigshare Services Pvt. Ltd. is the registrar, to the issue.
