Medico Remedies Ltd IPO

IPO Synopsis

Public issue of 10,99,200 equity shares of Rs. 10/- each (equity shares) of Medico Remedies Limited (MRL or the company) for cash at a price of Rs. 100 per share (the issue price), aggregating to Rs. 10.99 crores (the issue) consisting of fresh issue of 9,49,200 equity shares aggregating to Rs. 9.49 crores and an offer for sale of 1,50,000 equity shares by the selling shareholders aggregating to Rs. 1.50 crores (offer for sale), of which 57,600 equity shares of Rs. 10 each will be reserved for subscription by market maker to the issue (the market maker reservation portion). The issue less market maker reservation portion i.e. Issue of 10,41,600 equity shares of Rs. 10/- each is hereinafter referred to as the net issue. The issue and the net issue will constitute 26.49% and 25.10% respectively of the post issue paid up equity share capital of the company. The Face value of the equity shares is Rs. 10 and the issue price is 10 times of the face value.

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