/ Sarthak Metals' IPO Receives 17.48 Lakh Bids ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 15 March 2017

Manufacturer of wide variety of cored wires, aluminium flipping coils and industrial oxygen gas, Sarthak Metals, has come up with its initial public offering (IPO). As per the data available with Bombay Stock Exchange (BSE) at 1031 hours, the issue received total of 17,48,000 bids.

The funds raised through the IPO are going to be used towards existing working capital requirements of the Company, for general corporate purposes and to meet the expenses of the Offer. The issue opened on March 10, 2017 and is going to close on March 17, 2017. The issue comes under the fixed price issue category, wherein the issue price has been fixed at Rs 30 per equity share.

The offer consists of issue of fresh equity of 3,636,000 equity shares of Rs 10 each, aggregating upto Rs 10.91 cr. The minimum order quantity for the issue is one lot consisting of 4000 shares.

The Company is going to be listed on Bombay Stock Exchange and SME exchange. SME exchange is a stock exchange dedicated towards trading the shares of small and medium scale enterprises (SMEs).

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