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Category :
IPO
Headline :
Rachana Infrastructu announces launch of initial public offering
Date:
17/05/2022 18:20
Rachana Infrastructure Ltd. has announced public offering of 5650000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 128.00 per share. The gross proceeds of the issue are expected to be Rs 7,797.00 lakhs.
The company's initial public offer (IPO) will open on 20 May 2022 and is expected to close on 25 May 2022, subject to customary closing conditions.
The IPO includes a fresh Issue of 5650000 Equity Shares of the Company at an price of Rs 138.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1000 shares with bids in multiples of 1000.
Rachana Infrastructure Ltd. anticipates using the proceeds of the issue for Repayment of Secured Loans Working capital requirement General Corporate Purpose, Meeting Public Issue Expenses.
Interactive Financial Services Ltd. as lead manager & Bigshare Services Pvt. Ltd. is the registrar, to the issue.
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