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19/09/2022 15:50

Insolation Energy announces launch of initial public offering

Insolation Energy Ltd has announced public offering of 5832000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 28.00 per share. The gross proceeds of the issue are expected to be Rs 2,216.16 lakhs.

The company's initial public offer (IPO) will open on 26 September 2022 and is expected to close on 29 September 2022, subject to customary closing conditions. The price band of the issue has been fixed at Rs 36.00-38.00 per share.

The IPO includes a fresh Issue of 5832000 Equity Shares of the Company at an price of Rs 38.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 3000 shares with bids in multiples of 3000.

Insolation Energy Ltd anticipates using the proceeds of the issue for Funding the Working capital requirements of the Company

General corporate purposes.

HOLANI CONSULTANTS PVT. LTD. as lead manager & Bigshare Services Private Limited. is the registrar, to the issue.