Steel company Loha Ispaat Ltd., flagship company of Loha group, will hit the capital market with an initial public offer on March 11 with an issue size of 26,705,476 equity shares of Rs.10 each to fund its working capital requirements post expansion and other corpus funds..
The price band has been fixed between Rs.77 and Rs.80 per equity share of Rs.10 each and the issue closes on March 20.
The issue will constitute 26.44 per cent of the post-issue paid-up equity share capital of the company.
The issue has been graded by CARE as 'CARE IPO Grade 3', indicating average fundamentals.
The company is one of the organized Independent Steel Service Centers in India having an existing client base of over 500 customers Pan India, making it a major player in the flat steel products (namely HR and CR Coils, Sheets and Plates) markets in India.
Aryaman Financial Services Ltd. is the sole book running lead manager for the issue and Bigshare Services is the registrar to the issue.
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