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News Details

Par Drugs & Chemical announces launch of initial public offering

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30/04/2019 08:40
Par Drugs & Chemicals Ltd. has announced public offering of 30000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 41.00 per share. The gross proceeds of the issue are expected to be Rs 15.30 lakhs.

The company's initial public offer (IPO) will open on 03 May 2019 and is expected to close on 08 May 2019, subject to customary closing conditions.

The IPO includes a fresh Issue of 30000 Equity Shares of the Company at an price of Rs 51.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 2000 shares with bids in multiples of 2000.

Par Drugs & Chemicals 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 & Link Intime India Private Limited is the registrar, to the issue.