GCM Securities, a broking and trading company, has come out with an IPO of 60.9 lakh equity shares and plans to raise Rs 12.18 crore through the issue. The company is currently engaged in the business of equity broking, investing and trading activities.
The IPO shall open on 18 March, 2013 and shall close on 20 March, 2013. The company has fixed a price of Rs 20 per share. Investors need to bid minimum of 6000 shares and in multiples of 6000 thereafter. So, a retail investor can bid for a maximum of 6000 shares as it amounts to Rs 1,20,000.
The company intends to use proceeds of the IPO for augmenting its long term working capital.
Equity shares are proposed to be listed on Bombay Stock Exchange SME platform. Inventure Merchant Banker Services Private Limited is the lead manager to the issue. Purva Sharegistry (India) Private Limited is the registrar to the issue.