The company plans to raise Rs 500 crore from the primary market. Along with that, its shareholders will also sell a total of 43,727,603 shares during the IPO. The company said it might also hold a private placement round to raise Rs 100 crore ahead of the IPO.
Among the selling shareholders are its promoters, Hong Kong-based Unic Memory Technology and Tapperware Kitchenware. Average cost of acquisition for the selling shareholders stands at Rs 110.67 for Unic Memory and Rs 1.37 for Tapperware Kitchenware, according to the draft papers.
“Demand for the shares has increased in the unlisted market, where the stock traded around Rs 175-215 on Tuesday,” said Dinesh Gupta of UnlistedZone, a trader who facilitates such trades.
The company went for a share split earlier in September. On the basis of a shareholders’ resolution dated September 10, 2021, the company sub-divided the face value of its equity shares from Rs 10 each to Rs 5 each.
Axis Capital, BOB Capital, DAM Capital and SBI Capital Markets are among the merchant bankers to issue.
