Shubhlaxmi Jewel Art announces launch of initial public offering
19/11/2018 11:21
Shubhlaxmi Jewel Art Ltd. has announced public offering of 2504000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 16.00 per share. The gross proceeds of the issue are expected to be Rs 651.04 lakhs.

The company's initial public offer (IPO) will open on 22 November 2018 and is expected to close on 27 November 2018, subject to customary closing conditions.

The IPO includes a fresh Issue of 2504000 Equity Shares of the Company at an price of Rs 26.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 4000 shares with bids in multiples of 4000.

Shubhlaxmi Jewel Art Ltd. anticipates using the proceeds of the issue for Funding the working capital requirements of the Company; and, General corporate purposes  .

Pantomath Capital Advisors Pvt. Ltd. as lead manager & LINK INTIME INDIA PRIVATE LIMITED is the registrar, to the issue.