Anand Rayons announces launch of initial public offering
13/06/2019 09:50
Anand Rayons Ltd. has announced public offering of 4688000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 17.00 per share. The gross proceeds of the issue are expected to be Rs 1,265.76 lakhs.

The company's initial public offer (IPO) will open on 18 June 2019 and is expected to close on 24 June 2019, subject to customary closing conditions.

The IPO includes a fresh Issue of 4688000 Equity Shares of the Company at an price of Rs 27.00 per Equity Share. The company has fixed the minimum bid lot for the issue at shares with bids in multiples of .

Anand Rayons Ltd. anticipates using the proceeds of the issue for Incremental Working capital requirements, General Corporate Purpose, Meeting Public Issue Expenses.

Guiness Corporate Advisors Pvt. Ltd. as lead manager & Bigshare Services Pvt. Ltd. is the registrar, to the issue.