Kranti Industries Ltd IPO

IPO Synopsis

Initial public offering of 23,19,000 equity shares of face value of Rs. 10 each, at an offer price of Rs.37 per equity share for cash, aggregating Rs.8.58 Crores (public offer) comprising of a fresh issue of up to 17,52,000 equity shares aggregating up to Rs. 6.48 Crores (fresh issue) and an offer for sale of up to 5,67,000 equity shares by Mrs. Basanti Vora (the promoter group selling shareholder) aggregating up to Rs. 2.10 Crores (offer for sale) out of which up to 1,17,000 equity shares of face value of Rs. 10 each, at an offer price of Rs. 37 per equity share for cash, aggregating up to Rs. 0.43 Crores will be reserved for subscription by the market maker to the offer (the marke Maker reservation portion). The offer less market maker reservation portion i.e. Offer of upto 22,02,000 equity shares of face value of Rs. 10 each, at an offer price of Rs. 37 per equity share for cash, aggregating up to Rs. 8.15 Crores is hereinafter referred to as the net offer. The public offer and net offer will constitute 26.35 % and 25.02 % 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 37 is 3.7 times the face value of the equity shares.