PNN
Mumbai (Maharashtra) [India], March 27: Aluwind Architectural Limited, a reputed player in the facade and fenestration industry, has announced its plan to go public with an Initial Public Offering on March 28, 2024. The company is aiming to raise Rs 29.70 Crores through this IPO, with shares set to be listed on the NSE Emerge platform.
The issue size is Up to 66,00,000 equity shares at face value of Rs 10 each.
Equity Share Allocation
* Non-Institutional Investors (NII) - Up To 31,35,000Equity Shares
* Retail Individual Investors (RII) - Up To 31,35,000Equity Shares
* Market Maker - Up To 3,30,000 Equity Shares
The net proceeds from the IPO will be utilized for Funding of Working Capital Requirements and General Corporate Expenses. The Issue closes on April 04, 2024.
The Lead Manager to the Issue is Corpwis Advisors Private Limited. The Registrar to the Issue is Skyline Financial Services Private Limited.
Murli Manohar Kabra, Managing Director of Aluwind Architectural Limited expressed, "We are excited to announce our decision to go public with an Initial Public Offering. Our journey in the facade and fenestration industry has been characterized by innovation, quality, and unwavering commitment to excellence. Since our inception, we have continually pushed boundaries, delivering cutting-edge solutions that redefine architectural landscapes and set new standards for the industry.
The IPO proceeds will support our working capital requirements, ensuring preparedness to meet increasing demand. We are dedicated to excellence and anticipate using the funds to strengthen our market position, broaden our product range, and further innovate in shaping architectural landscapes. We're committed to delivering value and driving sustainable long-term success in the facade and fenestration industry as we embark on this exciting new chapter."
Vishal Kumar Garg, Director of Corpwis Advisors Private Limited said, "Aluwind Architectural Limited's IPO is a testament to the company's strong fundamentals and growth prospects. With innovation and a track record of delivering quality products and services, Aluwind is well-positioned to capitalize on the opportunities in the facade and fenestration industry. The utilization of the net proceeds will further enhance the company's operational capabilities and drive value creation. Wishing the team every success as they embark on this exciting new chapter."
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