Ksolves India introduces IPO for share equity sale at ₹100 per share

Software services and product company Ksolves India has introduced its initial public offer (IPO). Which  will open for subscription on Tuesday, by 23rd June, 2020. And will close on 26th June, 2020.

Software services and product company Ksolves India introduces IPO. Which  will open for subscription on Tuesday, by 23rd June, 2020. And will close on 26th June, 2020. The IPO has a price band of Rs 100 per share. All the shares issued in total are of 4,02,000 shares. Also, it will cost Rs 10 each at a price of Rs 100 per equity share. Moreover, this will aggregate to Rs 4.02 Crore. However, out of which 20,400 shares of the face value of  Rs 10. Will be reserved for subscription by the market maker. Furthermore, the net issue to the public of 3,81,600 equity shares. With each 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. Shreni Shares Private Limited is the lead manager for issuing the shares.

Ksolves India introduces IPO

Company Associates have stated. In order to meet working capital requirement net proceeds from the fresh issue will be used. And 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. “However, the present issue is a fixed price issue. The allocation to the public category shall be made as:

Firstly, minimum fifty per cent to retail individual investors. Secondly, remaining to. Either individual applicants other than retail individual investors. Or other investors including corporate bodies or institutions. Irrespective of the number of specified securities applied for. Ksolves India introduces IPO in press statement.

Ksolves further added saying. “The unsubscribed portion in either of the categories. May be allocated to the applicants in the other category.” They also added. “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.

 

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