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News Details

( As on 25/03/2021 19:20)

V-Marc India announces launch of initial public offering

V-Marc India Ltd. has announced public offering of 6000000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 29.00 per share. The gross proceeds of the issue are expected to be Rs 2,340.00 lakhs.

The company's initial public offer (IPO) will open on 25 March 2021 and is expected to close on 31 March 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 37.00-39.00 per share.

The IPO includes a fresh Issue of 6000000 Equity Shares of the Company at an price of Rs 39.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 3000 shares with bids in multiples of 3000.

V-Marc India Ltd. anticipates using the proceeds of the issue for

“Funding capital expenditure of our proposed new manufacturing facility which is being set upTo enable us to manufacture high voltage cables, produced by dry/nitrogen gas cure technology by way of installation of Catenary Continuous Vulcanization (CCV) line;Expanding our existing installed capacities (hereinafter referred as the “Project);

Funding the working capital requirements of our Company;

General corporate purposes.

as lead manager & Bigshare Services Pvt. Ltd. is the registrar, to the issue.