Monday, March 18, 2013

Lakhotia Polyesters IPO

Lakhotia Polyesters (India), a yarn manufacturer, has come out with an IPO of 14.52 lakh equity shares and plans to raise Rs 5.082 crore through the issue. The company is engaged in the business of manufacturing of lacquer coated Polyester films, transfer foils and M type metallic yarns, which are appropriate for textile, printing, decoration and packing industry and manufacturing of grey fabrics used in sarees and as interline cloth.

The IPO shall open on 19 March, 2013 and shall close on 21 March, 2013. The company has fixed a price of Rs 35 per share. Investors can bid a minimum of 4000 shares and in multiples of 4000 thereafter. So, a retail investor can invest a maximum of 4000 shares as that amounts to Rs 1,35,000.

The company intends to utilize the proceeds of the IPO for augmenting of long term working capital requirement and general corporate purposes.

Equity shares are proposed to be listed on the SME platform of Bombay Stock Exchange. Intensive Fiscal Services Private Limited is the lead manager of the issue and Sharex Dynamic (India) Pvt Ltd is the registrar of the issue.

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