Aristo Bio - Tech And Lifescience Limited, is an agrochemical and crop protection Company and engaged in a wide range of product categories, such as Insecticides, Herbicides, Fungicides and Plant Growth Regulators. The issue opens on January 16, 2023, and closes on January 19, 2023, and will subsequently be listed on the NSE Emerge platform.
The company intends to raise Rs 1,305.22 Lakhs by issue of 18,12,800 shares which are priced at Rs 72 per share and will be sold in lots of 1,600 shares. The HNI portion is 8,60,800 shares, which is 50 per cent of the net issue shares. The remaining 50 per cent, which is 8,60,800 is the Retail Investor portion. The lead managers to the issue are Beeline Capital Advisors Private Limited, leading merchant banking company of Gujarat and the registrar to the issue is Link Intime Financial Services Private Limited.
Out of Rs 1,305.22 lakhs to be raised, Rs 935.22 lakhs will be used to fulfil the company's working capital requirement, Rs 250.00 lakhs will be utilised for general corporate purposes and Rs 120.00 lakhs will be used for meeting issue expenses.
Chairman and Managing Director, Aristo Bio-Tech And Lifescience Limited, Narendra Singh Barhat, said, IPO funding will help us in growing our company to next stage as we have enough capacity in our existing setup and good team what we need is working capital to fuel our growth and IPO funding will provide that.
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( With inputs from ANI )
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