Shivam Cements IPO opens from today

February 18, 2019 | Investopaper

The Initial Public Offering (IPO) of Shivam Cements has opened from Falgun 6, 2075. Shivam Cements will issue 5,49,640 shares to locals & 41.20,000 shares to the general public. The closing date of the IPO is set at Falgun 9, 2075. If the shares are not fully subscribed till that period, the application period will be extended to Chaitra 5, 2075. Siddhartha Capital is the issue manager for the IPO.

Related: How to apply IPO/FPO/Right Share through Mero Share?

IPO to general public

The company is going to issue IPO worth 10% to the public. A total of 44 lakh shares will be issued at the price of Rs. 300 per share.  2,20,000 shares are reserved for the Employees and other 2,20,000 shares are reserved for Mutual funds. The general public will participate in remaining 41.20 lakh shares of Shivam Cements Ltd.

IPO to locals

Shivam Cements Ltd. will issue 5,49,640 shares to the locals of project affected area at the premium price of Rs. 200 per share. Earlier, the company had issued 8.8 lakh shares to the locals at a premium price of Rs. 300. However, only 2,00,240 shares were applied by the locals. So, the company has decided to re-issue the remaining unsubscribed shares at a lower price of Rs. 200 per share.



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