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Garv
Industries Limited (GIL), the company involved in the business of multi-product
trading and distribution of a range of aluminum & textile products, has
received capital markets regulator Sebi's approval to float an initial public
offer (IPO).
The
company is offering 32,00,000 equity shares at issue price of Rs 10/- each
making the issue size of Rs. 3,20,00,000
approx.
1,70,000
equity shares of Rs 10 each will be reserved for subscription by market makers
to the issue. The face value of the equity share is Rs. 10 and the issue price
is 1 time of the face value.
The
initial public offer will open today, 12 April, 2018 and will close on 17 April,
2018.
The
Objects of the IPO is to raise funds for maintaining the working capital
requirements and funding expenditure for General Corporate Purposes.
Mr.
Rishu Agarwal, Mrs. Daya Bansal, and R.S Services Pvt Ltd are the promoters of
the company. Aryaman Financial Services Ltd is the book-running lead managers
to the issue.
