MUMBAI: The initial public offer of Niraj Cement Structurals Ltd will hit the capital market on May 26 and close on May 30. The engineering and construction company will offer 32,50,000 equity shares of Rs 10 each in the price band of Rs 175-190 per share through the book building process.
Out of the total share offering, 3,25,000 shares are reserved for the employees. The net issue to the public will be 29,25,000 shares. The issue will constitute 31.42 per cent of the post issue paid up capital.
CARE has assigned IPO Grade 1 to the issue, which is being managed by Allbank Finance.
Niraj Cement Structurals plans to utilize the IPO proceeds to acquire capital equipment, for long-term working capital needs, and general purposes. The company will bid for road related infrastructure projects—leveraging its strength in this segment for projects on BOOT and BOT basis.
Out of the total share offering, 3,25,000 shares are reserved for the employees. The net issue to the public will be 29,25,000 shares. The issue will constitute 31.42 per cent of the post issue paid up capital.
CARE has assigned IPO Grade 1 to the issue, which is being managed by Allbank Finance.
Niraj Cement Structurals plans to utilize the IPO proceeds to acquire capital equipment, for long-term working capital needs, and general purposes. The company will bid for road related infrastructure projects—leveraging its strength in this segment for projects on BOOT and BOT basis.
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