Atmastco’s Rs 56-Crore IPO to Open on February 15; Check Details – News18

Engineering, procurement and development agency Atmastco Ltd on Monday mentioned it should increase slightly over Rs 56 crore via an preliminary public providing that can open for subscription on February 15. Post the completion of the Initial Public Offering (IPO), shares of the Bhilai- headquartered firm will probably be listed on the National Stock Exchange’s Small and Medium Enterprise (SME) platform — NSE Emerge.

The firm’s IPO is a mix of contemporary subject of 54.8 lakh fairness and an Offer For Sale (OFS) of 18.25 lakh shares with a hard and fast worth of Rs 77 apiece, in accordance to an announcement. At this worth, the corporate will mobilise Rs 42.2 crore via the contemporary subject and Rs 14.06 crore by means of OFS.

Proceeds from the contemporary subject will probably be primarily used for funding the working capital necessities of the corporate. Besides, some quantity will probably be used for reimbursement of loans and normal company functions. The maiden public subject opens for subscription on February 15 and can conclude on February 20.

The Chattisgarh-based firm has ongoing initiatives price greater than Rs 720 crore. Investors can apply for at least 1,600 fairness shares and in multiples of 1,600 fairness shares thereafter.

Affinity Global Capital Market Private Ltd is the only real lead supervisor to the general public subject.

(This story has not been edited by News18 employees and is revealed from a syndicated information company feed – PTI)