• This will be accessible for three days and close on Wednesday. The company has set the issue price at between $475 and $500 per equity share, with the goal of the IPO being to raise $631 crores.
  • The minimum investment for ordinary investors is 15,000, and the lot size is 30 shares, according to a report by Live Mint.
  • On July 24, the IPO allocation is anticipated to occur. Refunds are anticipated to start on July 25, and shares will be credited to demat accounts on July 26. The company would then list its suggested equity shares on the BSE and NSE on July 27
  • Before the IPO, which includes the fresh issue of shares worth ₹206 crores and an offer for sale of up to 85 lakh shares, anchor investors were allowed to bid on Friday.
  • The proceeds from the fresh issuance will be used to repay ₹32.3 crores of debt, while a long-term working capital requirement of ₹128.02 crores is projected. Additionally, ₹22.5 crores will be used to repay outstanding borrowings.
  • As of March 31, the company had reported a profit of ₹46.9 crores for FY23, compared to ₹22.45 crores in FY22 and ₹8.23 crores in FY21.
  • 50% of the total IPO size is reserved for qualified institutional buyers (QIBs), while 15% is allocated separately for non-institutional investors (NIIs), and the remaining 35% will be allocated to retail individual investors (RIIs).
  • The selling shareholders are promoter entities. Sanjay Lohta will sell 2,860,000 equity shares, while Ashoka Bajaj Automotives LLP will sell 1,350,000 equity shares. Navin Lohta, Vivek Lohta, and Neeraj Lohta will each sell 1,430,000 equity shares.
  • The book-running lead managers (BRLMs) for the issue are ICICI Securities and IIFL Securities, while Link Intime India is the registrar.

Leave a Reply

Your email address will not be published. Required fields are marked *