Laxmi Cotspin Ltd IPO

IPO Synopsis

Public offer of 48,00,000 equity shares of a face value of Rs. 10 each (the equity shares) of Laxmi Cotspin Limited (LCL or the company) for cash at a price of Rs. 20 per share (the offer price), aggregating to Rs. 9.60 crores (the offer), of which, 2,40,000 equity shares of Rs. 10 each will be reserved for subscription by market makers to the offer (the market maker reservation portion). The offer less the market maker reservation portion i.e. Offer of 45,60,000 equity shares of Rs. 20 each is hereinafter referred to as the net offer through an offer for sale by the selling shareholders as defined in the section Definitions and abbreviation) aggregating up to Rs. 9.12 crores (the offer). The offer and the net offer will constitute 27.99 % and 26.59%, respectively of the post offer paid-up equity share capital of the company. The Face value of the equity shares is Rs. 10 each and the offer price is Rs. 20. The offer price is 2.0 times of the face value.

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