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Laxmi Cotspin to hit capital markets to raise upto Rs 9.60 crore

  • Mar-16-2017
  • 24 Hrs IST

Laxmi Cotspin is coming out with an initial public offering (IPO) of 48,00,000 equity shares of face value of Rs 10 each for cash at a fixed price of Rs 20 per equity share. The issue will open on March 17, 2017 and will close on March 22, 2017. The shares will be listed on NSE Emerge Platform.

The objects of the offer are to achieve the benefits of listing the Equity Shares on the Emerge Platform of NSE and to carry out the sale of 48,00,000 Equity Shares by the Selling Shareholders. The listing of the Equity Shares will enhance its brand name and provide liquidity to the existing shareholders. The listing of the Equity Shares will also provide a public market for the Equity Shares in India.

The book running lead manager to the issue is HEM Securities, while the compliance officer for the issue is Pooja Vijay Potdar.

The company is engaged in the business of cotton processing in textile industry with its production facilities located in cotton growing areas of Marathwada and Vidarbha region at Samangaon which is situated in the Jalna district of State of Maharashtra.