PNN
Mumbai (Maharashtra) [India], September 5: Share Samadhan Limited offers a one-stop solution for investment retrieval, wealth protection, and litigation funding solutions, has announced its plan to go public with an IPO on September 9, 2024, aiming to raise Rs 24.06 Crores, with shares to be listed on the BSE SME platform.
The issue size is Up To 32, 51,200 equity shares at a face value of Rs 10 each.
Equity Share Allocation
* QIB Anchor Portion - Up to 9,23,200 Equity Shares
* Qualified Institutional Buyers (QIB) - Up to 6,19,200 Equity Shares
* Non-Institutional Investors (NII) - Not less than 4,64,000 Equity Shares
* Retail Individual Investors (RII) - Not less than 10,81,600 Equity Shares
* Market Maker - Up to 1,63,200 Equity Shares
The net proceeds from the Issue will be utilized primarily for Investment in Technology, Unidentified Acquisition for Company (In India or Abroad), Working Capital Requirement, General Corporate Purposes and to meet out the Issue Expenses. The issue will open for subscription on September 9, 2024 and closes on September 11, 2024.
The Lead Manager to the Issue is Narnolia Financial Services Limited, The Registrar to the Issue is Skyline Financial Services Private Limited.
Abhay Kumar Chandalia, Managing Director, of Share Samadhan Limited expressed, "This milestone marks a significant achievement for Share Samadhan, highlighting our progress and advancements in investment retrieval, wealth protection, and litigation funding solutions since our inception. Our journey has been dedicated to providing investors with comprehensive solutions to reclaim their lost, blocked, or forgotten investments.
From physical shares to mutual funds, provident funds, fixed deposits, insurance, bank deposits, debts, and other asset classes, we've made it our mission to help investors recover their rightful assets and secure their financial futures. The IPO will expand our operations, enhance market presence, fuel growth opportunities, and bolster our corporate image and brand, while establishing a public market for our company."
Vipin Aggarwal, Chairman and Managing Director of Narnolia Financial Services Limited said, "As we prepare to launch the Share Samadhan IPO, we are excited about the opportunities in the rapidly expanding financial sector. This IPO presents investors with an excellent opportunity to engage with a company leading the way in investment retrieval, wealth protection, and litigation funding solutions.
Share Samadhan excels in reclaiming lost, blocked, or forgotten investments across a wide array of financial assets. With a focus on delivering comprehensive, hassle-free solutions, Share Samadhan is poised to lead the industry ensuring that investors can recover their wealth efficiently and securely.
This IPO is set to fuel our growth and generate significant value for our investors."
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