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19 Nov 2024
Visaman Global Sales Ltd is gearing up to launch its initial public offering (IPO) on June 24, with a fixed price issue set at ₹43 per share. The company aims to raise ₹16.05 crore through this public issue, which consists entirely of a fresh issue of 37.32 lakh equity shares.
Visaman Global Sales, a supplier of various types of pipes, structural steels, and PUF panels for roofing and walls, is set to open its SME IPO for bidding on Monday, June 24, closing on Wednesday, June 26. The IPO allotment is expected to be finalized on June 27, with the listing date on the NSE SME slated for July 1.
The IPO lot size is 3,000 shares, requiring a minimum investment of ₹129,000 from retail investors. The net proceeds from the issue will be used for capital expenditure, setting up a manufacturing facility in Rajkot, Gujarat, working capital, and general corporate purposes.
Shreni Shares Limited is the book-running lead manager, and Link Intime India Private Ltd serves as the IPO registrar. The promoters of the company include Mitulkumar Vasa, Sureshchandra Vasa, Avni Vasa, Ilaben Vasa, and Kular Brijesh N. Following the IPO, promoter shareholding will decrease from 100% to 72.98%.
As of now, the grey market premium (GMP) for Visaman Global Sales IPO has not started, indicating that the shares are yet to be traded in the grey market.
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