Company Rs. 56.22 lakh equity shares having a face value of Rs.10 per share. will issue at a price of 20, plans to list on the BSE-SME exchange
Mumbai, one of the fastest growing real estate consulting firm SVS Ventures Limited’s public issue will open for subscription on December 30. The company has received permission to bring up its public issue on the BSE SME exchange platform. SVS Ventures Ltd’s Rs. 11.24 crore public issue on BSE SME platform opens for subscription on December 30
The Company raised Rs. 11.24 crores is planned to be collected. First Overseas Capital Limited is the lead manager of the issue. The public issue will close on January 4.
An initial public offering of Rs. 20 per share (including premium of Rs. 10 per equity share) to Rs. 56.22 lakh new equity shares of face value of 10 will be issued at a value of Rs. 11.24 crores. The minimum lot size for application is 6,000 shares with a value per application of Rs. 1.20 lakhs. The retail allocation for the IPO is 50% of the net offer. The promoter group holding in the company was 90.49% before the public issue which will be 66.66% after the issue.
Commenting on the development, Mr. Shashikant Sharma, Promoter and Managing Director, SVS Ventures Limited said, “The company has achieved phenomenal growth since its inception and enjoys excellent market acceptance. Our company aims to grow in size with its rich experience, industry experts in-site and expand its operations.
Our company is currently focusing on brand building opportunities in the real estate sector. Along with business expansion, we have continued to achieve operational efficiencies to remain cost competitive and gain a competitive edge. We hope that post the proposed public issue we will be able to execute our growth strategy in a manner that maximizes value creation for all stakeholders.”
