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News Details

08/02/2023 08:10

Lead Reclaim and Rub announces launch of initial public offering

Lead Reclaim and Rubber Products Ltd. has announced public offering of 1950000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 15.00 per share. The gross proceeds of the issue are expected to be Rs 487.50 lakhs.

The company's initial public offer (IPO) will open on 09 February 2023 and is expected to close on 13 February 2023, subject to customary closing conditions.

The IPO includes a fresh Issue of 1950000 Equity Shares of the Company at an price of Rs 25.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 6000 shares with bids in multiples of 6000.

Lead Reclaim and Rubber Products Ltd. anticipates using the proceeds of the issue for Funding the working capital requirements

Purchase of plant and machinery for augmenting the Manufacturing Facility

General corporate purposes.

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