Artedz Fabs announces launch of initial public offering
14/03/2019 16:40

Artedz Fabs Ltd. has announced public offering of 2310000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 26.00 per share. The gross proceeds of the issue are expected to be Rs 831.60 lakhs.

The company's initial public offer (IPO) will open on 18 March 2019 and is expected to close on 20 March 2019, subject to customary closing conditions. The price band of the issue has been fixed at Rs 34.00-36.00 per share.

The IPO includes a fresh Issue of 2310000 Equity Shares of the Company at an price of Rs 36.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 3000 shares with bids in multiples of 3000.

Artedz Fabs Ltd. anticipates using the proceeds of the issue for Funding the Working Capital requirements of the Company; and, General Corporate Purposes.

Pantomath Capital Advisors Pvt. Ltd. as lead manager & Bigshare Services Pvt Ltd. is the registrar, to the issue.