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PNN
Mumbai (Maharashtra) [India], January 8: Sat Kartar Shopping Limited specializes in Ayurvedic products that support natural wellness and address diverse health needs for men and women, proposes to open its Initial Public Offering on January 10, 2025 aiming to raise Rs 33.80 Crore, with shares to be listed on the NSE Emerge platform. The issue size is 41,72,800 equity shares of face value of Rs 10 each with an issue price band of Rs 77- Rs 81 Per Share. Equity Share Allocation * QIB Anchor Portion - Upto 11,79,200 Equity Shares * Qualified Institutional Buyer - Upto 7,88,800 Equity Shares * Non-Institutional Investors - Not Less Than 5,92,000Equity Shares * Retail Individual Investors - Not Less Than 13,79,200Equity Shares * Market Maker - 2,33,600 Equity Shares The net proceeds from the IPO will be utilized to meet the expenses of an unidentified acquisition (in India or abroad), marketing and advertising expenses, capital expenditures, expenditure on investment in technology, general corporate purposes. The anchor bidding will open on January 09, 2025, the issue opening date will be January 10, 2025 and the issue will close on January 14, 2025. The Book Running Lead Manager to the Issue is Narnolia Financial Services Limited and the Registrar to the Issue is Skyline Financial Services Private Limited. Manprit Singh Chadha, Promoter of Sat Kartar Shopping Limited expressed, "We are delighted to take this next step in the journey of company, driving our vision of holistic wellness through Ayurveda. This IPO will enable us to accelerate our growth plans, including strategic acquisitions, enhancing our marketing and technological capabilities, and further strengthening our presence in the wellness market. We believe that this IPO will empower us to achieve even greater milestones as we continue to innovate and lead in the Ayurvedic wellness sector." Vipin Aggarwal, Director, Merchant Banking Division at Narnolia Financial Services Limited said, "The Ayurvedic wellness industry is experiencing remarkable growth, fueled by an increasing shift towards natural and holistic health solutions. The company, with its wide-ranging product portfolio and a multi-channel distribution strategy, is well-placed to capitalize on this expanding market. The company's focus on quality, innovation, and promoting wellness through Ayurveda positions it for sustained growth. This IPO is a key milestone in the company's journey to further expand its market presence, invest in technology, and introduce new products that cater to evolving consumer needs, ultimately contributing to the broader wellness industry." (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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