New IPO: Ksolves India public issue opens this week; check price band, lot size, date, other details

According to Ksolves India, the net proceeds from the fresh issue will be used to meet working capital requirement, general corporate purpose and to meet the issue expenses.

U.S. IPOs, U.S. capital markets, Chinese companies, U.S. listings, initial public offerings, startup,
The Rossari Biotech issue will consist of a fresh issue of equity shares of Rs 50 crore and an offer for sale.

Initial public offer for software services and product company Ksolves India will open for subscription on Tuesday, 23 June 2020, and will close on 26 June 2020. The IPO has a price band of Rs 100 per share. The fresh issue of 4,02,000 equity shares of Rs 10 each at a price of Rs 100 per equity share will aggregate Rs 4.02 crore. Out of which 20,400 shares of the face value of  Rs 10 each at a price of Rs 90 aggregating to Rs 20.40 lakhs will be reserved for subscription by the market maker. The net issue to the public of 3,81,600 equity shares of face value of Rs 10 each at a price of  Rs 100 will aggregate Rs 3.82 crore, according to the company’s prospectus. The lead manager of the issue is Shreni Shares Private Limited.

According to the company, the net proceeds from the fresh issue will be used to meet working capital requirement, general corporate purpose and to meet the issue expenses. The promoters of Ksolves India are Ratan Kumar Srivastava and Deepali Verma. The lot size of the issue is 1,200 shares with a bidding lot amount of Rs 1,20,000. “The present issue is a fixed price issue ‘the allocation’ is the net issue to the public category shall be made as (a) Minimum fifty per cent to retail individual investors, and (b) Remaining to (i) Individual applicants other than retail individual investors; and (ii) Other investors including corporate bodies or institutions, irrespective of the number of specified securities applied for,” Ksolves India said in its IPO prospectus.

It further added saying that the unsubscribed portion in either of the categories may be allocated to the applicants in the other category. “If the retail individual investor category is entitled to more than fifty per cent on a proportionate basis, accordingly the retail individual investors shall be allocated that higher percentage,” Ksolves India said. The company generates revenue from exports sales and provides its information technologies services to clients over 30 countries and over 80 per cent of sales comes from North American clients. Last year Ksolves India had acquired 100 per cent stake in Kartik Solutions Private Limited.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.