Sotac Pharmaceuticals Ltd has announced public offering of 3000000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 101.00 per share. The gross proceeds of the issue are expected to be Rs 3,330.00 lakhs.

The company's initial public offer (IPO) will open on 29 March 2023 and is expected to close on 03 April 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 105.00-111.00 per share.

The IPO includes a fresh Issue of 3000000 Equity Shares of the Company at an price of Rs 111.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1200 shares with bids in multiples of 1200.

Sotac Pharmaceuticals Ltd anticipates using the proceeds of the issue for To Meet Working Capital Requirements

Investment in Subsidiary

Upgradation / Construction of Existing /New Building in the Existing Premises

General Corporate Purpose

To meet Public Issue Expenses.

Beeline Capital Advisors Pvt. Ltd. as lead manager & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.