Suich Industries announces launch of initial public offering
27/05/2019 13:00
Suich Industries Ltd. has announced public offering of 4115200 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 65.00 per share. The gross proceeds of the issue are expected to be Rs 3,086.40 lakhs.

The company's initial public offer (IPO) will open on 30 May 2019 and is expected to close on 04 June 2019, subject to customary closing conditions.

The IPO includes a fresh Issue of 4115200 Equity Shares of the Company at an price of Rs 75.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1600 shares with bids in multiples of 1600.

Suich Industries Ltd. anticipates using the proceeds of the issue for Repayment/ prepayment of certain unsecured loans availed from banks and financial institutions by the company, Funding the working capital requirement 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.