Rajasthan based Lagnam Spintex Limited is ready set to go public and will launch its SME initial public offering (IPO) on September 4. The company is looking to raise Rs 24.6 Cr through NSE SME IPO will close on September 7.
The price band for the issue has been decided at Rs 41 per equity share and the offer for sale consists of up to 6,000,000 shares.
The IPO comprises of a fresh issue of up to Rs 24.60 crore by the company and the promoters hold in aggregate 90,66,000 equity shares representing 77.69% of the pre-issue paid-up capital of the Company.
Lagnam Spintex Limited is doing a business of manufacturing of high-quality yarn (Ne 4 to Ne 20) which is used in denim, terry towels, bottom wears, home textiles and industrial fabrics. They are exporting around 18.90% prouducts in Germany, Belgium, Portugal, Italy, Columbia, South Africa, Slovenia, China, Pakistan, Bangladesh, and others.
They have hired 79 permanent employees on its payroll and Objects of the Issue are part finance the setting up of the additional cotton yarn manufacturing facility and meet Issue expenses
Holani Consultants Private limited is book running lead managers to the offer. while the registrar to the offer is Bigshare Services.
Lagnam Spintex is proposed to be listed on National Stock Exchange of India.
Lagnam Spintex IPO Reviews & Recommendations:
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Lagnam Spintex IPO & Issue Details
|Subscription Dates||4 – 7 September 2018|
|Issue Price Band||INR 41|
|Minimum bid (lot size)||3000 Shares|
|Minimum Lot Amount||INR 123000|
|Face Value||INR 10 per share|
|IPO Size||INR 24.60 Cr|
|Issue Type||Fixed Price Issue IPO|
|Listing At||NSE SME|
Lagnam Spintex IPO Financial Performance (in INR Crore)
Lagnam Spintex IPO Subscription Status
|Category||Day 1||Day 2||Day 3||Day 4|
Lagnam Spintex IPO Tentative Dates: Allotment & Listing Details:
- Bid/Offer Opens On: 4 Sept 2018
- Bid/Offer Closes On: 7 Sept 2018
- Basis of Allotment: On or about – 14 Sept 2018
- Refunds Status: On or about – 17 Sept 2018
- Credit of Equity Shares to demat accounts: On or about – 18 Sept 2018
- Listing Date: On or about – 19 Sept 2018
Allotment Status – Lagnam Spintex IPO : Check Here
Lagnam Spintex IPO Issue Object
- Part finance the setting up of the additional cotton yarn manufacturing facility (2,200 lakhs)
- Meet Issue expenses (260 lakhs)
Lagnam Spintex IPO Prospectus:
- DRHP Draft Prospectus
- Red Herring Prospectus
Lagnam Spintex IPO Lead Manager(s):
- Holani Consultants Private limited
Lagnam Spintex IPO Promoters:
- Mr. Dwarka Prasad Mangal
- Mr. Anand Mangal
- Lagnam Infotech Solutions Private Limited
Company Contact Information:
Lagnam Spintex Limited
RIICO Growth Centre
Phone: +91 014 82 289210
Email: [email protected]
Lagnam Spintex IPO Registrar:
Bigshare Services Pvt. Ltd
Fax: 91-22-2847 5207
Email: [email protected]