Ken enterprises launches IPO to mobilise Rs 84 crore, test all info here
Fabric manufacturer Ken companies launched its maiden public problem to elevate Rs 83.65 crore. It's miles a hard and fast fee trouble with offer rate at Rs 94 in keeping with proportion.The initial share sale of 88.99 lakh stocks will open for subscription on february 5 and close on february 7. This may be the second one public issue from the SME phase for the following month.The IPO is a mixture of clean issuance of 61.99 lakh stocks really worth Rs 58.27 crore, and a suggestion-for-sale of 27 lakh stocks well worth Rs 25.38 crore via current shareholders.Promoters Nikunj Hariprasad Bagdiya, and Bina Hariprasad Bagdiya might be the promoting shareholders within the offer-for-sale.The textile manufacturer which competes listed peers like Laxmi Cotspin, and Pashupati Cotspin, intends to utilise clean difficulty proceeds for unidentified acquisitions, purchase of new machinery, upkeep of each production centers, and running capital requirements.
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Maharashtra-primarily based Ken organizations operates as a design-to-delivery answers provider for each greige and completed fabrics. It elements fabrics for main worldwide brands consisting of ZARA (Inditex group), goal and Primark.
The corporation will finalise the IPO share allotment by february 10, while traders can start buying and selling in Ken shares on the NSE Emerge, effective february 12.
Company Makers capital is the book strolling lead manager to the problem.
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