Scarnose Internation announces launch of initial public offering
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Scarnose International Ltd. has announced public offering of 1200000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 45.00 per share. The gross proceeds of the issue are expected to be Rs 660.00 lakhs. The company's initial public offer (IPO) will open on 14 June 2022 and is expected to close on 17 June 2022, subject to customary closing conditions.
The IPO includes a fresh Issue of 1200000 Equity Shares of the Company at an price of Rs 55.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 2000 shares with bids in multiples of 2000. Scarnose International Ltd. anticipates using the proceeds of the issue for A To meet the working capital requirements B To make the repayment of Unsecured Loan C To meet the Issue Expenses D General Corporate Purposes. Finshore Management Services Ltd. as lead manager & CAMEO CORPORATE SERVICES LTD is the registrar, to the issue.
