SHUBHAM POLYSPIN LIMITED’S IPO OPENED ON SEPTEMBER 28, 2018; IPO CLOSES ON OCTOBER 4, 2018
Mehsana based Shubham Polyspin Limited (“SHUBHAM”) an existing profit making company engaged in manufacturing of Polypropylene (PP) yarn having installed capacity of 250 Metric Ton (MT) per month, opens its initial public offering (IPO) on Friday September 2018. The Public Issue will be of 15,00,000 equity shares of face values Rs 10 each for cash at a price of Rs 40 per equity share aggregating to Rs 600 lakhs. Out of these 78,000 equity shares will be reserved for subscription by market maker.The net issue will constitute 25.81 % of the fully diluted post-issue paid up equity share capital of the company. The shares would be listed on SME platform of BSE Limited i.e. BSE SME Platform. The IPO will close on Thursday October 4, 2018. Beeline Broking Limited (BEELINE) is the Lead Manager to the issue and SHUBHAM’s IPO is the 2nd IPO of BEELINE. Also, BEELINE is the market maker to the issue. Moreover, first IPO handled by BEELINE that is Ranjeet Mechatronics Limited listed at BSE SME Platform on September 26, 2018 opened at a price of Rs 28.85 that is 15.40% above the issue price of Rs 25. Company will utilize the net IPO proceeds for Modernisation of Plants and Machinaries, Building and Electrification, to meet the Working Capital requirement, Developing new products and for General Corporate purposes.
