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PNN
Mumbai (Maharashtra) [India], March 6: Stock Broking Limited, a distinguished corporate member broking house, has announced its plan to go public with an Initial Public Offering on March 07, 2024. The company is aiming to raise Rs 38.23Crore on upper price band through this IPO, with shares set to be listed on the BSE SME platform. The issue size is Up to 46,06,400 equity shares at face value of Rs 10 each. Equity Share Allocation - QIB Anchor Portion - Up To 11,72,800 Equity Shares - Qualified Institutional Buyers (QIB) - Up To 7,82,400 Equity Shares - Non-Institutional Investors (NII) - Up To 5,88,800 Equity Shares - Retail Individual Investors (RII) - Up To 13,71,200 Equity Shares - Market Maker - Up To 6,91,200 Equity Shares The net proceeds from the IPO will be utilized for funding Working Capital Requirements, meeting General Corporate Expenses and Issue Expenses. The bidding for the Anchor portion will open on March 06, 2024, and the issue will close on March 12, 2024. The Book Running Lead Manager to the Issue is Share India Capital Services Private Limited. The Registrar to the Issue is Bigshare Services Private Limited. Vrajesh Shah, Promoter, Chairman & Managing Director expressed, "We're excited to announce Pune E - Stock Broking Limited's IPO, a milestone in our journey of growth in the financial services sector. Through this IPO, we aim to raise capital to fuel our expansion initiatives and meet our corporate objectives. Building on over a decade of excellence, we are steadfast in our commitment to delivering exceptional financial solutions, leveraging innovation &integrity, and driving sustainable growth." Ronak Jhaveri, Vice President of Share India Capital Services Private Limited said, "I am pleased to be part of this transformative journey with Pune E - Stock Broking Limited. The company stands as a beacon of excellence in the financial services landscape, with a reputation built on trust and innovation over the years. As it continues to expand its horizons, Pune E - Stock Broking Limited remains committed to empowering clients and driving success in every endeavor." (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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