New Delhi, Lead debenture trustee Beacon Trusteeship Ltd on Wednesday is aiming to raise a little over Rs 32 crore through its initial share-sale opening for public subscription on May 28.
The Mumbai-headquartered company has fixed the price band for the issue at Rs 57-60 per share and the lot size will be 2,000 equity shares.
The issue will end on May 30 and bidding for anchor investors will open on May 27. Following the successful completion of the IPO, the company's shares will be listed on NSE Emerge, Beacon Trusteeship said in a statement.
The IPO comprises a fresh issue of 38.72 lakh equity shares worth Rs 23.23 crore and an offer for sale (OFS) of 15.48 lakh equity shares worth Rs 9.29 crore. This takes the total size at the upper end of the price range to Rs 32.52 crore.
Among those who sold shares in the OFS are Prasanna Analytics Pvt Ltd and Kaustubh Kiran Kulkarni.
Of the IPO proceeds, the company proposes to use Rs 7 crore to build technology infrastructure for its existing business, launch depository participant, registrar and share transfer agent services at its arm Beacon Investor Holdings. 6.99 crore to invest and it is proposed to utilize Rs. Rs 3.25 crore will be spent to purchase new office premises in Borivali, Mumbai, besides, a portion will be used for general corporate expenses.
On the financial front, the company reported revenue of Rs 19.92 crore with profit (PAT) of Rs 5.16 crore in FY 2023-24, while revenue of Rs 14.81 crore and PAT of Rs 3.84 crore in FY 2022-23.
Beeline Capital Advisors is the sole book-running lead manager, and KFI Technologies is the registrar to the offer.
The Mumbai-headquartered company has fixed the price band for the issue at Rs 57-60 per share and the lot size will be 2,000 equity shares.
The issue will end on May 30 and bidding for anchor investors will open on May 27. Following the successful completion of the IPO, the company's shares will be listed on NSE Emerge, Beacon Trusteeship said in a statement.
The IPO comprises a fresh issue of 38.72 lakh equity shares worth Rs 23.23 crore and an offer for sale (OFS) of 15.48 lakh equity shares worth Rs 9.29 crore. This takes the total size at the upper end of the price range to Rs 32.52 crore.
Among those who sold shares in the OFS are Prasanna Analytics Pvt Ltd and Kaustubh Kiran Kulkarni.
Of the IPO proceeds, the company proposes to use Rs 7 crore to build technology infrastructure for its existing business, launch depository participant, registrar and share transfer agent services at its arm Beacon Investor Holdings. 6.99 crore to invest and it is proposed to utilize Rs. Rs 3.25 crore will be spent to purchase new office premises in Borivali, Mumbai, besides, a portion will be used for general corporate expenses.
On the financial front, the company reported revenue of Rs 19.92 crore with profit (PAT) of Rs 5.16 crore in FY 2023-24, while revenue of Rs 14.81 crore and PAT of Rs 3.84 crore in FY 2022-23.
Beeline Capital Advisors is the sole book-running lead manager, and KFI Technologies is the registrar to the offer.
