Circuit Systems to raise Rs 14.85 cr via IPO
Circuit Systems India Ltd will float an initial public offer (IPO) to raise Rs 14.85 crore for expansion.
By PTI |
MUMBAI: Circuit Systems India Ltd will float an initial public offer (IPO) to raise Rs 14.85 crore for expansion.
Circuit Systems is proposing a public issue of 42,44,810 shares of Rs 10 for cash at a premium of Rs 25 each. Promoter's contribution of Rs 4.37 crore would also be included in the total fund raised.
The offer opens for subscription on September 27 and would close on October 5.
Centrum Capital Ltd has been appointed as the lead manager to the issue.
The Gandhinagar-based company apart from the public offer and promoter contribution, would also get funds from Corporation Bank by a term loan of Rs 4.52 crore.
Circuit Systems India Ltd is into manufacturing of rigid Printed Circuit Board (PCB), a key electronic component. PCBs have an end-use application in telecommunications, process control equipment, computer, automobiles, defense, space applications and industrial electronics.
The new project is being set up to meet the future market requirements and probable increase in demands for PCB's in domestic and global markets.
The company is presently concentrating on domestic market and also trying to expand internationally in markets of North America and Europe.
Circuit Systems is proposing a public issue of 42,44,810 shares of Rs 10 for cash at a premium of Rs 25 each. Promoter's contribution of Rs 4.37 crore would also be included in the total fund raised.
The offer opens for subscription on September 27 and would close on October 5.
Centrum Capital Ltd has been appointed as the lead manager to the issue.
The Gandhinagar-based company apart from the public offer and promoter contribution, would also get funds from Corporation Bank by a term loan of Rs 4.52 crore.
Circuit Systems India Ltd is into manufacturing of rigid Printed Circuit Board (PCB), a key electronic component. PCBs have an end-use application in telecommunications, process control equipment, computer, automobiles, defense, space applications and industrial electronics.
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The new project is being set up to meet the future market requirements and probable increase in demands for PCB's in domestic and global markets.
The company is presently concentrating on domestic market and also trying to expand internationally in markets of North America and Europe.
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