Ridings Consulting Engineers India Ltd IPO

IPO Synopsis

Initial public issue of 36,40,000 equity shares of face value of Rs. 10 each (equity shares) of Ridings Consulting Engineers India Limited (The Company or Issuer) for cash at a price of Rs. 18.00 per equity share (including a share premium of Rs. 8.00 per equity share) (Issue Price) aggregating to Rs. 6.55 crores (Issue) of which 1,84,000 equity shares of face value of Rs. 10.00 each for a cash price of Rs. 18.00 per equity share, aggregating to Rs. 0.33 crores will be reserved for subscription by market maker (market maker reservation portion). The issue less the market maker reservation portion i.e. Issue of 34,56,000 equity shares of face value of Rs. 10.00 each at an issue price of Rs. 18.00 per equity share aggregating to Rs. 6.22 crores (The Net Issue). The issue and the net issue will constitute 29.26% and 27.78%, respectively of the 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. 18.00. The Issue price is 1.8 times of the face value.