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22/09/2022 12:50

Cargotrans Maritime announces launch of initial public offering

Cargotrans Maritime Ltd. has announced public offering of 1080000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 35.00 per share. The gross proceeds of the issue are expected to be Rs 486.00 lakhs.

The company's initial public offer (IPO) will open on 27 September 2022 and is expected to close on 29 September 2022, subject to customary closing conditions.

The IPO includes a fresh Issue of 1080000 Equity Shares of the Company at an price of Rs 45.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 3000 shares with bids in multiples of 3000.

Cargotrans Maritime Ltd. anticipates using the proceeds of the issue for .

Hem Securities Ltd. as lead manager & Bigshare Services Private Limited. is the registrar, to the issue.