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17/11/2022 14:10

Ambo Agritec announces launch of initial public offering

Ambo Agritec Ltd. has announced public offering of 3400000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 20.00 per share. The gross proceeds of the issue are expected to be Rs 1,020.00 lakhs.

The company's initial public offer (IPO) will open on 21 November 2022 and is expected to close on 24 November 2022, subject to customary closing conditions.

The IPO includes a fresh Issue of 3400000 Equity Shares of the Company at an price of Rs 30.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 4000 shares with bids in multiples of 4000.

Ambo Agritec Ltd. anticipates using the proceeds of the issue for .

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