PNN
Mumbai (Maharashtra) [India], October 30: Vrundavan Plantation Limited, distinguished by its unwavering commitment to sustainable practices and environmental conservation has announced its plans to go public with an Initial Public Offering on 30th October, 2023. The company is aiming to raise Rs 15.29 Crore at the fixed price of Rs 108 through this IPO, with shares set to be listed on the BSE SME platform.
The issue size is Up to 14,16,000 equity shares at face value of Rs 10 each.
Equity Share Allocation
* Non-Institutional Investors (NII) - Up To 6,72,000Equity Shares
* Retail Individual Investors (RII) - Up To 6,72,000 Equity Shares
* Market Maker - 72,000 Equity Shares
The net proceeds from the IPO will be utilized to Repay Working Capital and Unsecured Loans, Meet Working Capital Requirements, and for General Corporate Purposes. The issue closes on 01st November, 2023.
The Lead Manager to the Issue is Interactive Financial Services Limited. The Registrar to the Issue is KFINTechnologies Limited.
Upendra Tiwari, Managing Director of Vrundavan Plantation Limited said, "I am pleased to announce this significant milestone for Vrundavan Plantation Limited. Our journey, deeply rooted in environmental conservation and sustainable practices, has reached a pivotal moment with this IPO. This offering not only reflects our company's growth but also underscores our unwavering commitment to preserving the environment.
The net proceeds from the IPO will be utilized to Repay Working Capital and Unsecured Loans, Meet Working Capital Requirements, and for General Corporate Purposes."
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