Ultra Wiring Connect announces launch of initial public offering
08/10/2018 14:30
Ultra Wiring Connectivity Systems Ltd. has announced public offering of 1376000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 35.00 per share. The gross proceeds of the issue are expected to be Rs 619.20 lakhs.

The company's initial public offer (IPO) will open on 12 October 2018 and is expected to close on 17 October 2018, subject to customary closing conditions.

The IPO includes a fresh Issue of 1376000 Equity Shares of the Company at an price of Rs 45.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 4000 shares with bids in multiples of 4000.

Ultra Wiring Connectivity Systems Ltd. anticipates using the proceeds of the issue for For Setting up of New Unit at Plot No , Sector , IMT, Faridabad, by setting up a parallel production line for manufacture of Connector and New Line for manufacturing of Blade Fuse, Working Capital requirements, General Corporate Purposes and, Issue Expenses.

D&A FINANCIAL SERVICES (P) LTD as lead manager & is the registrar, to the issue.