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SMC Global Securities files DRHP with SEBI for IPO

06 Nov 2012 Evaluate

Financial services company, SMC Global Securities has filed draft red herring prospectus (DRHP) with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc.

The book running lead managers to the issue are Tata Securities and IL&FS Capital Advisors. The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges, part repayment of term loan, investments into subsidiary - SMC Comtrade and general corporate purposes. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012.

SMC Global Securities services their broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. Also established an office in Dubai for brokerage and trading activities in that region.

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