• NSE
Partner with US Open an Demat Account EIPO Portfolio Tracker Watsapp Play Store App Store

News Details

28/12/2021 13:20

Timescan Logistics announces launch of initial public offering

Timescan Logistics (India) Ltd. has announced public offering of 944000 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 481.44 lakhs.

The company's initial public offer (IPO) will open on 31 December 2021 and is expected to close on 04 January 2022, subject to customary closing conditions.

The IPO includes a fresh Issue of 944000 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.

Timescan Logistics (India) Ltd. anticipates using the proceeds of the issue for

A To meet the working capital requirements

B To meet the Issue Expenses

C General Corporate Purposes

The Company believes that listing will enhance the Company’s corporate image, brand name and create a public market forits Equity Shares in India It will also make future financing easier and affordable in case of expansion or diversification of the business Further, listing attracts interest of institutional investors as well as foreign institutional investors.

Finshore Management Services Ltd. as lead manager & CAMEO CORPORATE SERVICES LTD is the registrar, to the issue.