Transpact Enterprise announces launch of initial public offering
22/08/2019 11:30
Transpact Enterprises Ltd. has announced public offering of 104000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 120.00 per share. The gross proceeds of the issue are expected to be Rs 135.20 lakhs.

The company's initial public offer (IPO) will open on 26 August 2019 and is expected to close on 28 August 2019, subject to customary closing conditions.

The IPO includes a fresh Issue of 104000 Equity Shares of the Company at an price of Rs 130.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1000 shares with bids in multiples of 1000.

Transpact Enterprises Ltd. anticipates using the proceeds of the issue for (a) Redemption of Preference Shares,(b) Acquisition of R & D facility and Registered Office on a long term basis,(c) General Corporate Purpose.

Aryaman Financial Services Limited as lead manager & Bigshare Services Pvt. Ltd. is the registrar, to the issue.