Prabhat Telecoms (India) is coming out with an initial public offering (IPO) of 22,00,000 equity shares of face value of Rs 10 each for cash at a fixed price of Rs 51 per equity share. The issue opens on July 22, 2016 and will close on July 26, 2016 and the shares will be listed on SME platform of BSE.
The company will use the issue proceed to achieve the benefits of listing the equity shares on the BSE-SME and to carry out the sale of 22,00,000 equity shares by the Selling Shareholders. The listing of the company’s equity shares will enhance its visibility and brand name and provide liquidity to the existing shareholders. The other objects of the offer also include creating a public trading market for the Equity shares of the company by listing them on BSE-SME.
The book running lead manager to the issue is Navigant Corporate Advisors, while the compliance officer for the issue is Lijo Mathew Varghese.
Incorporated in 2007, Prabhat Telecoms (India) is a part of Prabhat group of companies engaged in design, assemble, and customize import and distribution of mobile handsets, wireless dongles/data-cards, data products and mobile/telecom accessories.
