Spectrum Electrical Industries Ltd. has announced public offering of 3980000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 55.00 per share. The gross proceeds of the issue are expected to be Rs 2,587.00 lakhs. The company's initial public offer (IPO) will open on 17 September 2018 and is expected to close on 21 September 2018, subject to customary closing conditions.
The IPO includes a fresh Issue of 3980000 Equity Shares of the Company at an price of Rs 65.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 2000 shares with bids in multiples of 2000. Spectrum Electrical Industries Ltd. anticipates using the proceeds of the issue for . ARIHANT CAPITAL MARKETS LIMITED as lead manager & Bigshare Services Pvt Ltd. is the registrar, to the issue.