Wonder Fibromats announces launch of initial public offering
15/07/2019 11:40
Wonder Fibromats Ltd. has announced public offering of 2224000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 80.00 per share. The gross proceeds of the issue are expected to be Rs 2,001.60 lakhs.

The company's initial public offer (IPO) will open on 22 July 2019 and is expected to close on 24 July 2019, subject to customary closing conditions.

The IPO includes a fresh Issue of 2224000 Equity Shares of the Company at an price of Rs 90.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1600 shares with bids in multiples of 1600.

Wonder Fibromats Ltd. anticipates using the proceeds of the issue for To Finance the Expenditure towards Land & Site Development and Other Civil Work, To Acquire the Plant & Machinery, To Part finance the requirement of Working Capital, To meet General corporate purposes, To meet the expenses of the Issue.

NAVIGANT CORPORATE ADVISORS LIMITED as lead manager & Karvy Fintech Pvt. Ltd. is the registrar, to the issue.