Company Rs. 6.80 lakh equity shares of face value of Rs.10 per share. 153, plans to list on NSE’s SME Emerge platform
Mumbai, Edu-Medi Tech Company Moksha Overseas Education Limited (Moksha) has received Rs. 10.42 crore public issue will be opened for subscription on December 21. The company has received approval to launch its public issue on the National Stock Exchange’s SME Emerge platform. Edu-Medi Tech Company, Moxsh Overseas Educon Ltd’s Rs. 10.42 crore public opens for subscription on December 21
The proceeds from the public issue will be used for the company’s expansion plans including meeting working capital requirements, increasing visibility and brand awareness and for general corporate purposes. FedEx Securities Private Limited is the lead manager of the issue. The public issue will close on December 23.
In IPO Rs. 10 each will issue 6,80,800 new equity shares of Rs. 153 (including premium of Rs. 143 per equity share). The total value of this issue is Rs. 10.42 crore will be. The minimum lot size for application is 800 shares with a value of Rs. 1.22 lakhs.
The retail quota for the IPO is 3,23,200 equity shares. For the financial year 2021-22, the company has invested Rs. 10.1 crore gross revenues, Rs. 1.85 lakh EBITA and Rs. 1.11 crore has been reported as a net profit. The company’s shares will be listed on the NSE Emerge platform.
Regarding this Mr. Dhananjay Shah, Managing Director, Moksha Overseas Educon Limited said that we will use the issue proceeds to fund the company’s growth plans, meet working capital requirements, increase visibility and brand awareness. We are confident that following the proposed public issue, we will execute our growth strategy in a manner that maximizes value creation for all stakeholders.
Constantly innovating and creating business values is our strength and with this strength we want to create a technology based healthcare eco system in India so that even the patient living in remote villages can benefit from affordable services with warmth. Our goal is to build India’s largest digitally connected health infrastructure from a societal perspective.
Founded in May, 2018, Moksha is an Edu-Medi Tech company offering customized learning solutions, counseling and mobility services to students aspiring to pursue MBBS in India and abroad under the Moksha brand.
