The offer’s anchor book will be open for a day on December 12, and the issue will end on December 15.

The IPO consists of a fresh issue of Rs 350 crore in shares by Doms and an offer-for-sale (OFS) of Rs 850 crore in shares by the promoters. This means that 70% of the funds will go to selling stockholders.

The corporate promoter, FILA- Fabbrica Italiana Lapised Affini SpA, will sell Rs 800 crore worth of shares in the OFS, with an average cost of acquisition of these shares of Rs 101.53 apiece.

The OFS will be sold by promoters Sanjay Mansukhlal Rajani and Ketan Mansukhlal Rajani for Rs 25 crore apiece.

FILA, an Italian business, owns 51 percent of the corporation, with Santosh Rasiklal Raveshia, the second largest stakeholder among promoters, owning 17 percent.

According to the red herring prospectus filed on December 2, Sanjay Mansukhlal Rajani and Ketan Mansukhlal Rajani each own 8.63 percent of the company, while Chandni Vijay Somaiya, Sejal Santosh Raveshia, and Sheetal Hiren Parpani each own 4 percent.

Doms, which has a market share of 29 percent and 30 percent in core products such as pencils and mathematical instrument boxes in FY23, will use net fresh issue proceeds to build a new manufacturing facility to expand production capabilities for a wide range of writing instruments, water color pens, markers, and highlighters. The remainder of the monies will be used for general corporate reasons.

The sale includes a reserve of up to Rs 5 crore in shares for firm personnel. The net issue is the IPO minus the employee part.

The Gujarat-based company, which sells stationery and art products primarily under its flagship brand DOMS, has set aside 75% of the net offer size for qualified institutional buyers, 15% for high net worth individuals (non-institutional investors), and 10% for retail investors.

Doms, the second largest player in India’s branded stationery and art products market by value in FY23, has clocked healthy financial performance in recent years, with net profit increasing 567.2 percent year on year to Rs 95.8 crore for the fiscal year ended March FY23, revenue from operations increasing 77.3 percent year on year to Rs 1,212 crore, and EBITDA (earnings before interest, tax, depreciation, and amortisation) rising 149% year on year to Rs 186.7 crore EBITDA margin increased dramatically to 15.4 percent in FY23, up from 10.96 percent in FY22.

Also read :- Govt likely to miss target of flying 30 lakh beneficiaries under UDAN Scheme in FY24

The company reported a net profit of Rs 70.63 crore on revenue of Rs 761.8 crore for the six-month period ending September FY24.

After closing the public issue on December 15, the firm in consultation with the BSE will finalise the basis of allotment of IPO shares by December 18, while equity shares will be credited to demat accounts of successful investors by December 19.

The trading of equity shares on the NSE and BSE will begin on December 20.

The issue’s merchant bankers are JM Financial, BNP Paribas, ICICI Securities, and IIFL Securities, while the registrar is Link Intime India.

The post Doms Industries to launch IPO on Dec 13 to raise Rs 1,200 cr appeared first on Republic Aeon.

The initial public offering (IPO) consists of two parts: the company’s new share issuance of Rs 250 crore, and the promoters’ offer-for-sale (OFS) of same amount.

In the OFS, Sudhir Rai, a promoter, and Anita Rai, a co-promoter, will sell shares valued at Rs 168 crore and Rs 82 crore, respectively.

The Jharkhand-based manufacturer of machined and forged components is also exploring the possibility of obtaining Rs 50 crore through pre-IPO placement. In the event that the proposed pre-IPO placement goes through, the size of the new offering will be lowered to Rs 50 crore.

Net proceeds from the fresh issuance would be used by the company to pay for working capital needs amounting to 30 crore rupees and machinery and equipment worth 70 crore rupees. New issue proceeds would also be used to cover debts of Rs 90 crore, with the remaining money being set aside for general corporate reasons.

For the fiscal year ending in March of FY23, the profit increased by 154.2 percent year-on-year to Rs 30.93 crore, led by solid topline and operating metrics. The Rai family promotes the company, which serves the M&HCV and farm equipment businesses.

Within the last fiscal year, operational revenue increased 64.3% year-on-year to 488.6 crore rupees. EBITDA, or earnings before interest, taxes, depreciation, and amortisation, surged by 95% to Rs 57.5 crore during the same time, resulting in a margin expansion of 184 basis points at 11.77 percent for the year.

Also read :- GST collections in November at Rs 1.68 lakh crore, up 15% YoY

This fiscal year’s first quarter saw sales of Rs 143.7 crore and a profit of Rs 8 crore.

Ashok Leyland and Tata International DLT are just two of the prominent original equipment manufacturers (OEMs) with whom Kross has maintained steady partnerships for many years.

The merchant banker for the offering is Equirus Capital.

The post Kross files draft papers with Sebi to raise Rs 500 crore via IPO appeared first on Republic Aeon.

Here are the top ten things you should know before signing up for the offer:

1) IPO Dates

The IPO will open for subscription on November 3 and finish on November 7.

2) Price Band

The range of Rs 57-60 per share has been determined as the issue price.

3) Offer Details

ESAF Small Finance Bank public offer consists of a new issue of 6.51 crore shares worth Rs 390.7 crore and a sale of 1.2 crore shares for Rs 72.3 crore. In the OFS, promoter ESAF Financial Holding would sell shares worth Rs 49.26 crore, while investors PNB Metlife India Insurance Company will sell Rs 12.67 crore in shares and Bajaj Allianz Life Insurance Company will sell Rs 10.37 crore in shares. The issue includes a reservation of Rs 12.5 crore in shares for its employees, who would get them at a discount of Rs 5 per share from the final issue price.

4) Objectives of Issue

The net proceeds from the fresh issuance will be put toward developing the bank’s operations, principally through onward lending, and bolstering the bank’s Tier-I capital base to meet future capital requirements.

5) Lot Size

Each investor can place a bid for a minimum of 250 equity shares and in increments of 250 thereafter. Therefore, the lowest possible investment for an individual investor would be Rs 14,250 (250 (Lot size) x 57 (lower price band)). Maximum bids can reach Rs 15,000 in this auction.

6) Company Profile

Customers in rural and semi-urban areas can get loans from ESAF Small Finance Bank. Microloans, retail loans, loans to small and medium-sized businesses, and loans to other banks are all available through this organization. Across 21 states and 2 territories, the bank operates a network of 700 branches (including 59 branches run by business correspondents), 767 customer care centers, and 559 automated teller machines.

7) Financials

The net profit for ESAF Small Finance Bank for the fiscal year that ended in March 2023 increased by 452 percent, reaching Rs 302.33 crore from Rs 54.73 crore the previous year. With deposits up 14.4 percent to Rs 14,665.6 crore and disbursements up 23 percent to Rs 14,690.6 crore, net interest income for the year climbed by 60 percent on-year to Rs 1,836.3 crore. Gross non-performing assets decreased by 451 basis points year over year to 1.65 percent by the end of the June FY24 quarter, while net NPA decreased by 297 basis points year over year to 0.81 percent.

8) Lead Managers

ICICI Securities, Dam Capital Advisors, and Nuvama Wealth Management are acting as book-running lead managers for the issuance, with Link Intime India serving as the registrar.

9) Promoters

ESAF Financial Holdings Private Limited and Kadambelil Paul Thomas are our bank’s promoters.

10) Listing Date

According to the IPO timetable, trading of equity shares in ESAF Small Finance Bank will begin on the bourses on November 16.

Also read :- Dabur India spent Rs 65 cr in legal costs as hair relaxer cancer case continues in US

The post ESAF Small Finance Bank IPO: 10 things to know before subscribing to Rs 463 crore issue appeared first on Republic Aeon.

The company has stated that the anchor book of the offer would be opened for a day on November 6. Following ESAF Small Finance Bank and Protean eGov Technologies, this will be the third such IPO in November. ASK Automotive promoters Kuldip Singh Rathee and Vijay Rathee have issued an offer-for-sale (OFS) of 2,95,71,390 equity shares.

According to the news agency, because the IPO is an OFS, the whole proceeds will go to the selling shareholders, and the firm will not get any funds from the issuance. The IPO is projected to raise Rs 833.91 crore at the top of the pricing band. Half of the offer has been reserved for qualified institutional investors, 35% for retail investors, and the remaining 10% for institutional investors. Investors can bid for a minimum of 53 equity shares and in multiples of 53 equity shares after that.

The shares are expected to be listed on the BSE and NSE. The IPO of ESAF Small Finance Bank will be available for public subscription on November 3, while Protean eGov Technologies will go public on November 6. 

Gurugram-based ASK Automotive is one of India’s major manufacturers of brake-shoe and sophisticated braking systems for two-wheelers, with a market share of over 50% in fiscal 2022. The company provides safety systems and key engineering solutions with in-house design, development, and production skills. Its offerings are powertrain agnostic, catering to both electric vehicle (EV) and internal combustion engine (ICE) original equipment manufacturers.   

TVS Motor Company Ltd, Hero MotoCorp, Greaves Electric Mobility, and Bajaj Auto are among its clientele.  The book-running lead managers are JM Financial Ltd, Axis Capital Ltd, ICICI Securities Ltd, and IIFL Securities Ltd.

Also read :- DDA Housing Scheme 2023: Want To Book Flats Before Diwali; Check Locations, Prices, And Other Details

The post ASK Automotive IPO price band at Rs 268-282 per share, to raise Rs 834 crore appeared first on Republic Aeon.

The IPO, which closes on October 27, is solely an offer-for-sale by shareholders, including promoters, implying that the revenues will be distributed to the Rathod family.

The company will reveal the price band for the IPO, which will be the fourth to go public this month, on October 25, when the market reopens following the Dussehra holiday. The anchor book will be released on October 27.

Half of the issue size has been set up for qualified institutional buyers, with the remaining 15% designated for high-net-worth individuals. Retail investors will receive the remaining 35%.

As of June 2023, the corporation supplied 15,891 stock-keeping units (SKUs) throughout various product categories, with a presence in consumer houseware, writing tools & stationery, moulded furniture & allied items, and consumer glassware.

According to the company, it operates 13 manufacturing facilities spread across five countries and is establishing a glassware manufacturing facility in Rajasthan.

Approximately 80% of its revenue is generated by its in-house manufacturing operations, with the remainder (mostly steel and glassware products) manufactured by third-party contract manufacturers.

HP K160 Wireless Keyboard/Quick Comfy accurate

Financial performance

The financial performance of Cello World has been solid, with the exception of a decline in the EBITDA margin.

Revenue increased by 32.2 percent to Rs 1,796.7 crore, while net income increased by 30.5 percent year-over-year to Rs 266.1 crore.

From the prior year to the current one, its earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 26% to Rs 420.54 crore. In contrast, the margin decreased by 110 basis points (bps) to 23.4 percent.

The unit of one-hundredth of a percentage point is one basis point.

The company’s net profit increased by 25.2 percent year-over-year to Rs 77.4 crore and revenue rose by 9 percent to Rs 471.8 crore in the first quarter of fiscal year 24. Comparatively to the previous year, EBITDA increased by 23% to Rs 119.2 crore, representing a margin expansion of 290 basis points at 25.3 percent.

ASUS Wireless Keyboard and Silent Optical Mouse Set CW100

Allotment Date

Cello World will finalize the basis for allotment of shares by November 6 and credit shares in eligible investors’ demat accounts by November 8.

On November 9, the stock will be listed on the BSE and the NSE.

The issue’s merchant bankers are Kotak Mahindra Capital Company, ICICI Securities, IIFL Securities, JM Financial, and Motilal Oswal Investment Advisors. The registrar is Link Intime India.

Also read :- Bandhan Mutual Fund Launches Bandhan Nifty Alpha 50 Index Fund. All you need to know

The post Cello World’s Rs 1,900 crore IPO to open on October 30 appeared first on Republic Aeon.

The IPO solely has a fresh issue component and no offer-for-sale component. As a result, the company will get the entire fresh issue proceeds, minus IPO expenditures.

The specialty, cosmetics, and pharmaceutical intermediate manufacturing company intends to raise Rs 51.66 crore through a public offering of 51.66 lakh shares at the upper price range.

Lot Size

The net issue for the general public amounts to 49.04 lakh shares, with qualified institutional purchasers being granted half of the allocation. A further 35% of the shares are allocated for retail investors, while 15% are reserved for high-net-worth individuals (non-institutional investors).

Bidding for equity shares in the offer is limited to a minimum of 1,200 shares, with subsequent bids accepted in multiples of 1,200 shares. Retail investors are restricted to applying for a single batch of 1,200 shares, each valued at Rs 1.2 lakh, in accordance with the investment limit of Rs 2 lakh.

The anchor book will be made available to the public for one day on October 25, and the offering will conclude on October 30.Goals of the Issue

The corporation will allocate Rs 1.07 billion from the net proceeds of the offering towards civil construction activities within the factory’s current premises, and Rs 7.87 billion towards the acquisition of supplementary plant and apparatus in preparation for future growth. Additionally, debt repayment will consume Rs 12.90 crore, while the remaining Rs 13 crore will be allocated to working capital needs and general corporate purposes.

Its total outstanding borrowings amounted to Rs 13.44 crore as of October 18, 2023.

SJCAM C300 Action Camera with Handheld Grip | 4K30fps/20MP

Financial Performance

In terms of prior financial performance, earnings growth increased in FY23 compared to the previous year, whereas growth was generally restrained in FY22 compared to the previous year. For the fiscal year ended March FY23, net profit increased 120.3 percent year on year to Rs 9.89 crore, with revenue from operations increasing 23.5 percent to Rs 102.3 crore.

Profitability was primarily driven by operating success, with EBITDA (earnings before interest, tax, depreciation, and amortisation) increasing by 118.5 percent year on year to Rs 12.83 crore and margin increase of 545 basis points to 12.54 percent for FY23.

The profit for the fiscal quarter ending June FY24 was Rs 3.62 crore on revenue of Rs 28.8 crore.

Digitek GoCAM DAC-101 5K 30FPS 48MP WiFi Ultra HD Sports Action Camera

Listing Date

The Ahmedabad-based company, which manufactures products for pharmaceuticals, medical devices, electronics, paper, leather, plastics, and polymers, will finalize the basis for allotment of IPO shares by November 2, and the equity shares will be credited to eligible investors’ demat accounts by November 6.

On November 7, trading in equity shares will begin on the NSE Emerge.

The issue’s merchant banker is Hem Securities, while the offer’s registrar is Bigshare Services.

Also read :- Dividend Paying Stocks in November 2023

The post Paragon Fine and Speciality Chemicals IPO to open on October 26, price band set at Rs 95-100 apiece appeared first on Republic Aeon.

On October 27th, the IPO will conclude with a completely new issue of 14,98,800 equity shares. After raising Rs 7.39 crore through pre-IPO sale of 2,85,200 shares at Rs 259 each, the offering size was lowered.

The decrease from the pre-IPO price to the issue price is roughly 20%. If successful, this would be October’s seventh initial public offering from a small or medium-sized business.

Lot Size

The grocery and home goods retailer in Madhya Pradesh has set aside 86,400 shares for the market maker, leaving 14,12,400 for the net issue, with retail investors and high net worth persons each receiving 7,06,200 shares.

Investors can place bids starting at 600 shares and increasing in multiples of 600 shares. Since retail investors can only bid on one lot of 600 shares (since their investment limit is at Rs 2 lakh), the application size for them would be Rs 1,24,800.

Objectives of IPO

Working capital requirements will be funded with Rs 20.43 crore of the net issue proceeds by On Door Concepts. The remaining Rs 7.24 crore will be used for general corporate purposes.

“Considering the existing and future growth, the total net working capital needs of our company, as assessed based on the internal workings is expected to reach Rs 22.01 crore for FY24,” the corporation stated in its prospectus.

Philips 109.3 cm (43 inches) 4K UHD LED Smart TV 43PUT7791

About the company

Ondoor is a regional omni-channel retailer specializing in domestic necessities and groceries. Since its inaugural establishment in January 2015 in Bhopal, the company has grown to hold 55 percent of its stores in Madhya Pradesh as of March 2023.

One-seven stores are owned and operated by the corporation, with the remaining locations being managed via the franchisee model.

Financials

The company finally earned a profit in FY23, when it reported a profit of Rs 0.06 crore (before unusual item), compared to a deficit of Rs 5.4 crore the year before. The company’s operational revenue grew from Rs 173.1 crore to Rs 180.1 crore over the same time period.

Over the years, EBITDA has increased, from Rs 1.39 crore in FY22 to Rs 4.03 crore in FY23 (a year-over-year increase of 189.5 percent).

Profit for the five months ending in August 2023 was Rs 0.56 crore on revenue of Rs 70.26 crore and EBITDA of Rs 2.23 crore.

Redmi 108 cm (43 inches) F Series 4K Ultra HD Smart LED Fire TV L43R8

Listing date and grey market premium

By November 1st, Ondoor will have finalized the basis for allocating IPO shares, and by November 3rd, successful investors will have seen those shares credited to their demat accounts.

The stock’s debut on the NSE Emerge is set on November 6.

Analysts, speaking anonymously, suggested the share could be purchased on the gray market for a premium of 12% over the offer price. Before an initial public offering (IPO) is officially listed for sale, investors may trade in the shares on the grey market.

The issue’s merchant banker is First Overseas Capital, while the offer’s registrar is Bigshare Services.

Also read :- Blue Jet Healthcare sets IPO price band at Rs 329-346, aims to raise Rs 840 crore

The post On Door Concepts IPO opens October 23, issue price fixed at Rs 208 appeared first on Republic Aeon.

Prior to the bidding for the anchor book, which will occur for a single day on October 23, the issue will be available for subscription from October 25th to October 27th.

Offer-for-sale (OFS) shares by promoters in excess of 2.4 crore comprise the sole offering portion of the IPO; no fresh issues are included. The selling shareholders, the Arora family, will therefore receive the entire issue proceeds; the company will receive no compensation from the offer.

Through an upper price band public offering, the organization intends to raise Rs 840.27 crore.

After that, investors are permitted to submit bids for an increment of 43 shares in multiples of 43. As a result, retail investors are restricted to an investment limit of Rs 2 lakh in the IPO, with a minimum application size of Rs 14,878 (43 shares) and a maximum investment of Rs 1,93,414 (559 shares).

Semi-qualified institutional purchasers will receive 50% of the offer size, while high-net-worth individuals will receive 15%. The pharmaceutical company is headquartered in Maharashtra. In addition, retail investors have been allocated the remaining 35% of the problem.

Blue Jet Healthcare functions within three product categories: contrast media intermediates, high-intensity sweeteners, and pharmaceutical intermediates and active pharmaceutical ingredients (APIs). The company adopted a contract development and manufacturing organization (CDMO) business model to sustain its operations.

GE Healthcare AS, Guerbet Group, Bracco Imaging SpA, Colgate-Palmolive (India), Unilever, Prinova US LLC, and MMAG Company are among the clients that the organization serves with its specialized chemistry capabilities in contrast media intermediates and high-intensity additives.

In FY23, revenue from operations in the European region accounted for 74.5 percent of total revenue. India and the United States followed with 14 and nearly 5 percent, respectively.

Profit for the quarter ended June FY24 at Rs 44.1 crore increased by 58.4 percent over the corresponding period in the previous fiscal year, while revenue from operations increased by 24.2 percent to Rs 179.5 crore. Revenue from operations increased by 5.5 percent year-over-year to Rs 721 crore for the year ended March FY23; however, net profit decreased by 11.87 percent year-over-year to Rs 160 crore during the same period.

Read also :- On Door Concepts IPO opens October 23, issue price fixed at Rs 208

Korat Mahindra Capital Company, ICICI Securities, and JP Morgan India are the book running primary managers for this matter.

The post Blue Jet Healthcare sets IPO price band at Rs 329-346, aims to raise Rs 840 crore appeared first on Republic Aeon.

The tendering period for the offering will span three business days, from September 22 to September 26. On September 21, the anchor book, which may comprise up to 60 percent of the portion for qualified institutional buyers (QIB), will be opened for a day.

The Andhra Pradesh-based jewelry manufacturer has set aside fifty percent of the offering size for qualified institutional buyers, fifteen percent for high-net-worth individuals (non-institutional investors), and thirty-five percent for retail investors.

IPO Size

Vaibhav Jewellers intends to raise Rs 270.2 billion through a public offering at the upper price band. The offer consists of a fresh issuance of shares valued at Rs 210 crore and an offer to sell 28 lakh shares valued at Rs 60,2 crore by promoter Grandhi Bharata Mallika Ratna Kumari (HUF).

 The establishment of the proposed eight new showrooms will be financed primarily by net proceeds from a new issue, with the remaining funds used for general corporate purposes.

In eight villages and two cities, the hyperlocal jewelry retail chain with a presence in Andhra Pradesh and Telangana operates 13 showrooms, including two franchised showrooms. It is 100 percent owned by its founders.

Lot Size

Investors can offer for a minimum of 69 equity shares and in multiples of 69 shares thereafter. Retail investors can invest a minimum of Rs 14,835 for one lot (69 shares) and a maximum of Rs 1,92,855 for 897 shares in an IPO, as their investment limit cannot exceed Rs 2 lakh.

Individuals with a high net worth who are permitted to engage between Rs 2 and 10 lakh in an IPO can invest a minimum of Rs 2,07,690 for 966 shares and a maximum of Rs 9,93,945 for 4,623 shares.

boAt Airdopes 141 Bluetooth Truly Wireless in Ear Headphones

OnePlus Nord Buds 2r True Wireless in Ear Earbuds with Mic

Financials

The jewellery brand led by the first-generation woman entrepreneur Bharata Mallika Ratna Kumari Grandhi and her daughter Grandhi Sai Keerthan recorded healthy earnings growth in the preceding financial years, with profit increasing at a CAGR of 85.81 percent during FY21-FY23 to Rs 71.6 crore in the financial year ended 2022-23 and revenue from operations increasing at a CAGR of 18.92 percent during the same period to Rs 2,022 crore.

EBITDA (earnings before interest, tax, depreciation, and amortization) at Rs 143 crore in FY23 increased at a CAGR of 43.42 percent between FY21 and FY23, while the margin increased from 4.85 percent in FY21 to 7.06 percent in FY23.

Allotment Date

By October 3, the jewellery retailer will finalize the basis of allotment of IPO shares in consultation with the BSE, the designated stock exchange for the issue, and by October 5, the equity shares will be transmitted to the demat accounts of eligible investors. The refunds or unblocking of funds from the ASBA account for unsuccessful investors will occur by October 4’s end.

As per the IPO schedule, Vaibhav Jewellers will list its equity shares on the BSE and NSE on October 6.

The offer’s book-running lead administrators are Bajaj Capital and Elara Capital (India). Bigshare Services is the issue’s registrar.

Also read :- Entero Healthcare Solutions files for IPO, fresh issue component at Rs 1,000 crore

The post Vaibhav Jewellers sets price band at Rs 204-215 per share for Rs 270-crore IPO appeared first on Republic Aeon.

Anchor book QIBs included renowned financial institutions such as Morgan Stanley Asia (Singapore), Matthews Asia Funds, the Neuberger Berman Emerging Markets Equity Fund, the Eastspring Investments India Fund, Astorne Capital VCC – Arven, Copthall Mauritius Investment, Societe Generale, Goldman Sachs (Singapore), and Natixis International Funds.

Other funds that participated in the anchor book for Zaggle include: Kotak Equity Opportunities Fund, ICICI Prudential, LIC Mutual Fund, Abakkus Diversified Alpha Fund, Turnaround Opportunities Fund, Elara India Opportunities Fund, Valuequest Scale Fund, Founders Collective Fund, Ananta Capital Ventures Fund, and Founders Collective Fund.

The fintech-SaaS firm announced in its filing to exchanges that it “….. has finalised allocation of 1,54,58,515 equity shares to anchor investors at a price of Rs 164 per share.”

It was also revealed that a total of 37,80,630 equity shares were awarded to three domestic mutual funds through four different schemes as part of the total allocation to the anchor investors.

On September 14, Zaggle Prepaid Ocean Services will release its Rs 563.38-crore public issue, which includes a fresh issue of shares valued at Rs 392 crore and an offer-for-sale (OFS) of 1,04,49,816 equity shares by eight selling shareholders.

boAt Newly Launched Lunar Orb Smart Watch with 1.45″ AMOLED Display

Fire-Boltt Ninja Call Pro Plus 1.83″ Smart Watch with Bluetooth Calling, AI Voice Assistance

Avinash Ramesh Godkhindi and Raj P. Narayanam. Koteswara Rao Meduri, Zuzu Software Services, and selling shareholders VenturEast Proactive Fund LLC, GKFF Ventures, VenturEast SEDCO Proactive Fund LLC, Ventureast Trustee Company, and VenturEast Proactive Fund LLC are making up the OFS.

The offer price range is between Rs 156 and Rs 164 per share, and it will end on September 18th.

Zaggle, a participant in the spend management space with a unique value proposition and broad customer base, plans to invest Rs 300 crore (about $45 million) in new customer acquisition and retention efforts, as well as Rs 40 crore (about $6 million) in research and development. New issue funds would also be used to settle the company’s debt of Rs 17.08 crore.

Also read :- Yatra Online sets price band at Rs 135-142 for its Rs 775 crore IPO

The post Zaggle Prepaid Ocean Services mobilises Rs 253 crore from anchor investors ahead of IPO appeared first on Republic Aeon.