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News Details

Prevest Denpro announces launch of initial public offering

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09/09/2021 15:00
Prevest Denpro Ltd. has announced public offering of 3168000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 74.00 per share. The gross proceeds of the issue are expected to be Rs 2,661.12 lakhs.

The company's initial public offer (IPO) will open on 15 September 2021 and is expected to close on 17 September 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 82.00-84.00 per share.

The IPO includes a fresh Issue of 3168000 Equity Shares of the Company at an price of Rs 84.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1600 shares with bids in multiples of 1600.

Prevest Denpro Ltd. anticipates using the proceeds of the issue for Purchase of machineries, equipments and utilities for manufacturing of proposed additional line of products, R&D unit andexisting manufacturing operations General Corporate Purpose To meet issue expenses.

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