Veekayem Fash & Appa announces launch of initial public offering
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Veekayem Fashion & Apparels Ltd. has announced public offering of 1584000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 18.00 per share. The gross proceeds of the issue are expected to be Rs 443.52 lakhs. The company's initial public offer (IPO) will open on 05 August 2022 and is expected to close on 11 August 2022, subject to customary closing conditions.
The IPO includes a fresh Issue of 1584000 Equity Shares of the Company at an price of Rs 28.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 4000 shares with bids in multiples of 4000. Veekayem Fashion & Apparels Ltd. anticipates using the proceeds of the issue for a) Funding the working capital requirements of the company b) General Corporate Purposes. GYR CAPITAL ADVISORS PRIVATE LIMITED as lead manager & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.
