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PNN
Mumbai (Maharashtra) [India], December 28: Kaushalya Logistics Limited, a diversified conglomerate, operating in logistics, e-commerce, and commercial real estate, has announced its plans to go public with an Initial Public Offering on 29th December, 2023. The company is aiming to raise Rs 36.60 Crore on upper band price through this IPO, with shares set to be listed on the NSE EMERGE platform. The issue size is Up to 48,80,000 equity shares at face value of Rs 10 each. Equity Share Allocation * QIB Anchor Portion - Up To 13,34,400 Equity Shares * Qualified Institutional Buyers (QIB) - Up To 9,82,400Equity Shares * Non-Institutional Investors (NII) - Up To 6,96,000Equity Shares * Retail Individual Investors (RII) - Up To 16,22,400Equity Shares * Market Maker - 2,44,800 Equity Shares The net proceeds from the IPO will be utilized for Repayment of Unsecured Loans, Funding Working Capital Requirements, and General Corporate Expenses. The bidding for Anchor portion will open on 28th December, 2023 and the issue closes on 03rd January, 2024. The Book Running Lead Manager to the Issue is Khandwala Securities Limited. The Registrar to the Issue is Skyline Financial Services Private Limited. Uddhav Poddar, Managing Director of Kaushalya Logistics Limited expressed, "This IPO marks a pivotal milestone in the growth journey of Kaushalya Logistics Limited. Our strategic positioning in key sectors reflects a vision aimed towards unlocking new opportunities. The capital raised through this offering will be utilized for the repayment of unsecured loans and addressing working capital requirements. Our development as an integrated Logistics and Clearing and Forwarding (C&F) services provider further reinforces our commitment to delivering comprehensive solutions in the industry." Rinav Manseta, Associate Director of Khandwala Securities Limited said, "We are excited to be part of this significant step in Kaushalya Logistics Limited's journey. The company has demonstrated strength and strategic skill in navigating various markets. This strategic initiative underscores Kaushalya Logistics' dedication to expanding and innovating within its existing businesses." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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