Nidan Laboratoris And Healthcare Ltd. has announced public offering of 4000000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 115.00 per share. The gross proceeds of the issue are expected to be Rs 5,000.00 lakhs.

The company's initial public offer (IPO) will open on 28 October 2021 and is expected to close on 02 November 2021, subject to customary closing conditions.

The IPO includes a fresh Issue of 4000000 Equity Shares of the Company at an price of Rs 125.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1000 shares with bids in multiples of 1000.

Nidan Laboratoris And Healthcare Ltd. anticipates using the proceeds of the issue for

) Repayment / prepayment, in full or in part, of certain borrowings availed by the Company

) Additional Working Capital

) General Corporate Expenses.

FIRST OVERSEAS CAPITAL LIMITED as lead manager & Bigshare Services Pvt Ltd. is the registrar, to the issue.