Alumilite Architectu announces launch of initial public offering
21/06/2019 11:30
Alumilite Architecturals Ltd. has announced public offering of 3828000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 20.00 per share. The gross proceeds of the issue are expected to be Rs 1,148.40 lakhs.

The company's initial public offer (IPO) will open on 24 June 2019 and is expected to close on 28 June 2019, subject to customary closing conditions.

The IPO includes a fresh Issue of 3828000 Equity Shares of the Company at an price of Rs 30.00 per Equity Share. The company has fixed the minimum bid lot for the issue at shares with bids in multiples of .

Alumilite Architecturals Ltd. anticipates using the proceeds of the issue for (a) Funding Working Capital Requirement,(b) Repayment/prepayment, in full or part, of unsecured loans availed by the Company,(c) Funding expenditure for General Corporate Purposes.

Finshore Management Services Ltd. as lead manager & Bigshare Services Pvt. Ltd. is the registrar, to the issue.