Papadmalji Agro Foods Limited announces SME IPO targeting new manufacturing facility in…
1 report, 1 independent
Updated Jan 1
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
Papadmalji Agro Foods Limited is undergoing an Initial Public Offering (IPO) to raise INR 20.18 crores. The issue comprises a fresh issue of 25.73 lakh shares, aggregating to Rs 18.52 crores, and an offer for sale of 2.30 lakh shares, aggregating to Rs 1.66 crores. The price band for the SME IPO has been set between Rs 69 and Rs 72 per share.
From indiagazette.com
Why it matters
The company plans to utilize the issue proceeds for capital expenditure on a new manufacturing facility in Bachhasar, Bikaner. Funds will also be used for procuring plant and machinery, establishing a 250 kW Rooftop Solar Power System, and repaying borrowings.
From indiagazette.com
Who's involved
- IndiaThe IPO contributes to the overall health of the Indian capital market and signals industrial growth.