PNN
Mumbai (Maharashtra) [India], April 6: Teerth Gopicon Limited, one of the leading Infrastructure development company, has announced its plan to go public with an Initial Public Offering on April 08, 2024. The company is aiming to raise Rs 4,439.56 Lakhs at fixed price through this IPO, with shares set to be listed on the NSE Emerge.
The issue size is Up to 39,99,600 equity shares at face value of Rs 10 each.
Equity Share Allocation
* Market Maker Portion - Up To 2,00,400 Equity Shares
* Non-Institutional Investors (NII) - Up To 18,99,600 Equity Shares
* Retail Individual Investors (RII) - Up To 18,99,600 Equity Shares
The net proceeds from the IPO will be utilized to meet working capital requirements, and general corporate expenses. The issue will open on April 08, 2024 and closes on April 10, 2024.
The Lead Manager to the Issue is Interactive Financial Services Limited. The Registrar to the Issue is BigshareServices Private Limited.
Maheshbhai Kumbhani, Managing Director of Teerth Gopicon Limited said, "Our decision to take Teerth GopiconLimited public marks a significant step forward in our company's growth journey. Teerth Gopicon has established itself as a reputable player in the industry, with a focus on safety, timeliness, and quality that has earned the trust of their customers. With a resilient order book and ongoing projects, we remain committed to delivering excellence.
We believe that the funds raised through this IPO will play a crucial role in procuring raw materials for each of our sites, facilitating hassle-free work for our forthcoming projects and fortifying our position. Moreover, it will enable us to meet our requirements more efficiently, further strengthening our operational capabilities. We view this as a pivotal chapter and are truly enthusiastic about the opportunities it presents.
Mayur Parikh, Director of Interactive FinancialServices Limited said, " Teerth Gopicon Limited's IPO represents a significant milestone in the construction industry, and we are honoured to be part of their journey. With a solid reputation and a diverse range of services, the company's dedication to providing hassle-free service is commendable. We extend our best wishes to Teerth Gopicon Limited for continued success and growth in the future."
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