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Market | Equity | Daily Market Tracker | IPO Synopsis
IPO SYNOPSIS
Akshar Spintex Ltd
Registered Office:
Revenue Survey No. 102/2 Paiki,Plot No 2 Ranuja Road Kalavad,
Jamnagar - 361013,
Gujarat, India.
Initial public offer of 67,47,000 equity shares of face value of 10/- each ("Equity Shares") of Akshar Spintex Limited ("Company" or "Issuer") for cash at a price of (Rs) 40 per equity share (including a share premium of (Rs) 30 per equity share) aggregating to (Rs) 26.99 crores ("Offer") comprising a fresh issue of 9,99,000 equity shares aggregating to (Rs) 4 crores by the company ("Fresh Issue") and an offer for sale of 57,48,000 equity shares by selling shareholders ("Offer for Sale") aggregating to (Rs) 22.99 Crores and together with the fresh issue ("The Offer"). of which 3,45,000 equity shares of face value (Rs) 10/- each for cash at a price of (Rs) 40 per equity share, aggregating (Rs) 1.38 crores will be reserved for subscriptions by the market maker to the offer (The "Market Maker Reservation Portion"). The offer less market maker reservation portion i.e. Net offer of 64,02,000 equity shares of face value of (Rs) 10 each for cash at a price of (Rs) 40 per equity share, aggregating (Rs) 25.61 crores is hereinafter refered to as the "Net Offer". The offer and the net offer will constitute 26.99% and 25.61% respectively of the fully diluted post offer paid up equity share capital of the company. The Face value of the equity shares is (Rs) 10 each and the offer price of (Rs) 40 is 4 times of the face value of the equity share.
Issue
Money Payable On
Opens On
Closes On
Application
Allotment
27-Apr-18
03-May-18
40.00-0.00
0.00-0.00
Minimum Application for shares in Nos : 3000     Further Multiples of : 3000
 
(Rs.Cr)
Lead Managers to the Issue
Project Cost
26.99
Pantomath Capital Advisors Pvt Ltd
Project Financed
26.99
 
Post Issue
25.00
 
Issue Price
40.00
 
Projects
Funding the working capital requirements of the company
General corporate purposes
Promoted By
Ashok Bhalala
Amit Gadhiya
Harikrishna Chauhan
Listing At
BSE - SME
Registrar to the Issue
No Data Available!!!
.
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