Servotech Power Systems Ltd IPO

IPO Synopsis

Public issue of 48,80,000 equity shares of face value of Rs. 10/- each fully paid up of Servotech Power Systems Limited (Servotech or the company or the issuer) for cash at a price of Rs. 31/- per equity share (the issue price) (including a share premium of Rs. 21/- per equity share aggregating Rs. 15.13 crores (the issue) by the company, of which 3,00,000 equity shares of Rs. 10/- fully paid up each will be reserved for subscription by market maker to the issue (market maker reservation Portion). The issue less the market maker reservation portion i.e. Issue of 45,80,000 equity shares of Rs. 10/- each fully paid up is hereinafter referred to as the ?net issue?. The issue and the net issue will constitute 26.65% and 25.01% respectively of the post issue paid up equity share capital of the Company. The Face value of the equity shares is Rs. 10/- each The Issue price is Rs. 31/-. The Issue price is 3.10 times the face value.