Advance Syntex is going to hit capital markets on June 30 with an initial public offering (IPO) of 21,00,000 equity shares of face value of Rs 10 each for cash at a fixed price of Rs 12 per equity shares. The issue will close on July 04, 2016.
Shares of Advance Syntex will be listed on SME platform of BSE.
The company will use the issue proceeds for meeting working capital requirement and meeting the issue expenses.
HEM Securities is the book running lead manager to the issue, while the compliance officer for the issue is Lakshita Sabnani.
The company is mainly engaged in manufacturing of metalised films (MF), lacquered (coated) metalized polyester films (LMPF), glitter powder (zari powder) and metallic yarn (polyester badla). Glitter powder and metallic yarn are manufactured through Job Work of LMPF produced by the company. It also produces modified resins, which is used as raw material in manufacturing of LMPF.