IRIS Clothings announces launch of initial public offering
04/10/2018 10:30
IRIS Clothings Ltd. has announced public offering of 1230400 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 80.00 per share. The gross proceeds of the issue are expected to be Rs 1,107.36 lakhs.

The company's initial public offer (IPO) will open on 10 October 2018 and is expected to close on 12 October 2018, subject to customary closing conditions.

The IPO includes a fresh Issue of 1230400 Equity Shares of the Company at an price of Rs 90.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1600 shares with bids in multiples of 1600.

IRIS Clothings Ltd. anticipates using the proceeds of the issue for To meet the incremental working capital requirements, To meet the Issue Expenses, For general corporate purposes.

VC Corporate Advisors Private Limited as lead manager & Cameo Corporate Services Limited is the registrar, to the issue.