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News Details

20/09/2023 11:20

Arabian Petroleum announces launch of initial public offering

Arabian Petroleum Ltd. has announced public offering of 2892000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 60.00 per share. The gross proceeds of the issue are expected to be Rs 2,024.40 lakhs.

The company's initial public offer (IPO) will open on 25 September 2023 and is expected to close on 27 September 2023, subject to customary closing conditions.

The IPO includes a fresh Issue of 2892000 Equity Shares of the Company at an price of Rs 70.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 2000 shares with bids in multiples of 2000.

Arabian Petroleum Ltd. anticipates using the proceeds of the issue for .

Hem Securities Ltd. as lead manager & PURVA SHAREGISTRY (INDIA) PVT LTD. is the registrar, to the issue.