Jinaam's Dress announces launch of initial public offering
08/04/2019 11:10
Jinaam's Dress Ltd. has announced public offering of 360000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 49.00 per share. The gross proceeds of the issue are expected to be Rs 212.40 lakhs.

The company's initial public offer (IPO) will open on 09 April 2019 and is expected to close on 15 April 2019, subject to customary closing conditions.

The IPO includes a fresh Issue of 360000 Equity Shares of the Company at an price of Rs 59.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 2000 shares with bids in multiples of 2000.

Jinaam's Dress Ltd. anticipates using the proceeds of the issue for ) Purchase of Machineries,) Augmenting the long term working capital requirements of the Company,) Repayment of certain debt facilities availed by the Company,) General corporate purposes,) To meet the Issue related expenses.

as lead manager & is the registrar, to the issue.