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News Details

21/02/2023 10:42

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Srivasavi Adhesive announces launch of initial public offering

Srivasavi Adhesive Tapes Ltd. has announced public offering of 3780000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 31.00 per share. The gross proceeds of the issue are expected to be Rs 1,549.80 lakhs.

The company's initial public offer (IPO) will open on 23 February 2023 and is expected to close on 28 February 2023, subject to customary closing conditions.

The IPO includes a fresh Issue of 3780000 Equity Shares of the Company at an price of Rs 41.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 3000 shares with bids in multiples of 3000.

Srivasavi Adhesive Tapes Ltd. anticipates using the proceeds of the issue for .

Shreni Shares Pvt. Ltd. as lead manager & is the registrar, to the issue.