Novateor Research announces launch of initial public offering
29/08/2019 09:50
Novateor Research Laboratories Ltd. has announced public offering of 1872000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 14.00 per share. The gross proceeds of the issue are expected to be Rs 449.28 lakhs.

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

The IPO includes a fresh Issue of 1872000 Equity Shares of the Company at an price of Rs 24.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 6000 shares with bids in multiples of 6000.

Novateor Research Laboratories Ltd. anticipates using the proceeds of the issue for ) Additional Working Capital,) To meet the expenses of the Issue.

FIRST OVERSEAS CAPITAL LIMITED as lead manager & Karvy Fintech Pvt. Ltd. is the registrar, to the issue.