Ascom Leasing & Inve announces launch of initial public offering
25/11/2019 09:50
Ascom Leasing & Investments Ltd. has announced public offering of 2108000 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 632.40 lakhs.

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

The IPO includes a fresh Issue of 2108000 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 4000 shares with bids in multiples of 4000.

Ascom Leasing & Investments Ltd. anticipates using the proceeds of the issue for For the purpose of onward lending, financing and augmenting the capital base, General corporate expenses, To meet the Issue expenses.

Fast Track Finsec Private Limited as lead manager & SKYLINE FINANCIAL SERVICES PRIVATE LIMITED is the registrar, to the issue.