KPI Global Infra announces launch of initial public offering
07/01/2019 15:02
KPI Global Infrastructure Ltd. has announced public offering of 4992000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 70.00 per share. The gross proceeds of the issue are expected to be Rs 3,993.60 lakhs.

The company's initial public offer (IPO) will open on Tuesday, January 8, 2019 and is expected to close on Friday, January 11, 2019, subject to customary closing conditions.

The IPO includes a fresh Issue of 4992000 Equity Shares of the Company at an price of Rs 80.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1600 shares with bids in multiples of 1600.

KPI Global Infrastructure Ltd. anticipates using the proceeds of the issue for To part finance setting up a MW Solar Power Project at Sudi village, Samiyala village, Tanchha village located in Amod Tehsil in Bharuch district of Gujarat (“Proposed Project / Unit II); and, For General Corporate Purposes.

Vivro Financial Services Pvt. Ltd. as lead manager & Bigshare Services Pvt Ltd. is the registrar, to the issue.