Lagnam Spintex Ltd IPO

IPO Synopsis

Intial public issue of 60,00,000 equity shares of face value of Rs.10/- each fully paid up of Lagnam Spintex Limited (company or issuer) for cash at a price of Rs. 41/- per equity share (including a share premium of Rs.31/- per equity share) aggregating upto Rs. 24.60 Crores (the issue), of which 3,00,000 equity shares of face value of Rs.10/- each for cash at a price of Rs.41/- per equity share aggregating Rs. 1.23 Crores will be reserved for subscriptions by the market maker to the issue (the market maker Reservation portion). The issue less market maker reservation portion i.e. Issue of 57,00,000 equity shares of the face value of Rs.10/- each for cash at a price of Rs.41/- per equity share aggregating Rs.23.37 Crores is hereinafter refered to as the net issue. The issue and the net issue will constitute 33.96% and 32.26% 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 and the issue price is Rs. 41/- which is 4.1 times of the face value of the equity shares.