MUMBAI, March 21, 2018 (GNS) : S.S. Infrastructure Development Consultants Limited (“Company”), is engaged in the business of Engineering and Architectural Consultancy and is an Integrated Infrastructure Development Solution Provider, will be launching its Initial Public Offering (“IPO” or the “the Issue”) on EMERGE Platform of National Stock Exchange of India Limited (“NSE EMERGE”), which is scheduled to open on 28 March, 2018 and closes on 5 April, 2018, with a price band of Rs. 37/- to Rs. 40/- per Equity Share of face value of Rs. 10/- each of the Company (the “Equity Shares”).
The offer consist of Initial Public Issue of 42,78,000 Equity Shares of Face value of Rs. 10/- each fully paid for cash at a price of Rs. [●]/- per equity share (the “Issue Price”) (including a Share premium of Rs. [●]/- per Equity Share) aggregating up to Rs. [●]/- Lakhs (the “Issue”), of which up to 2,22,000 Equity Shares of Face value of Rs. 10/- each for cash at a price of Rs. [●]/- per equity share, aggregating Rs. [●]/- Lakhs will be reserved for subscription by the Market Makers to the issue (the “Market Makers Reservation Portion”). The Issue less Market Makers Reservation Portion i.e. Issue of up to 40, 56,000 Equity Shares of Face value of Rs. 10/- each for cash at a price of Rs. [●]/- per Equity Share, aggregating Rs. [●]/- Lakhs is hereinafter referred to as the “Net Issue”. The Issue and the Net Issue will constitute [●] % and [●] % respectively of the fully diluted Post Issue Paid up Equity Share Capital of the Company.
The Face value of the Equity Shares is Rs 10/- each.
The Net Proceeds will be utilized for Renovation of existing offices and Opening of new branch office; Purchasing of software’s and hardware’s; Repayment of Secured & Unsecured loans availed by our Company; Funding the working capital requirements of Our Company; General Corporate Purposes. (Collectively, herein referred to as the “Objects”).
In terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”) the Issue is being made for at least 25% of the post-Issue paid-up Equity Share capital of our Company. The Issue is being made through the Book Building Process, in accordance with chapter XB of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended the (“SEBI ICDR Regulations”) wherein 35.06% of the Issue will be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”)(the “QIB Category”), 5% of the QIB Category shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder shall be available for allocation on a proportionate basis to QIBs including Mutual Funds, subject to valid Bids being received from them at or above the Issue Price.
Further, not less than 15% of the Issue will be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Issue will be available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price.
Pantomath Capital Advisors Private Limited is the Book Running Lead Manager to the Issue and Bigshare Services Private Limited is the Registrar to the Issue.
The Equity Shares of the Company are proposed to be listed on NSE EMERGE.ENDS