Spectrum Electrical Industries Ltd IPO

IPO Synopsis

Public issue of 39,80,000 equity shares of Rs.10/- each of Spectrum Electrical Industries limited (the company or the issuer) for cash at a price of Rs.65/- per share (the issue price), aggregating to Rs.25.87 Crores (the issue), of which, 2,00,000 equity shares of rs 10/- each will be reserved for subscription by market maker to the issue (as defined in the section definitions and abbreviations) (the market maker reservation portion). The issue less the market maker reservation portion i.e. issue of 37,80,000 equity shares of Rs.10/- each for cash at a price of Rs.65/- per share aggregating to Rs.24.57 Crores is hereinafter referred to as the net issue. The issue and the net issue will constitute 26.32% and 25.00%, 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 6.5 times the face value