Aartech Solonics announces launch of initial public offering
11/03/2019 18:40
Aartech Solonics Ltd. has announced public offering of 2120000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 24.00 per share. The gross proceeds of the issue are expected to be Rs 720.80 lakhs.

The company's initial public offer (IPO) will open on 12 March 2019 and is expected to close on 18 March 2019, subject to customary closing conditions.

The IPO includes a fresh Issue of 2120000 Equity Shares of the Company at an price of Rs 34.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 4000 shares with bids in multiples of 4000.

Aartech Solonics Ltd. anticipates using the proceeds of the issue for Investment in wholly owned subsidiary company “M/S AIC Aartech Solonics Private Limited, Investment in wholly owned subsidiary company “ M/S Faradigm Ultracapacitors Private Limited, For General Corporate Expenses including Capital Expenditure & Research and Development Expenses, Working Capital Requirement, Meeting Public Issue Expenses.

SWASTIKA INVESTMART LIMITED as lead manager & Bigshare Services Private Limited. is the registrar, to the issue.