IT system integrator firm Esconet Technologies on Wednesday fixed the price band at Rs 80-84 apiece for its Rs 28.22 crore initial public offering which will open for subscription on February 16.
Esconet proposes to utilise Rs 16 crore of the IPO proceeds towards funding its long-term working capital requirements, besides investing Rs 2.5 crore in its wholly-owned subsidiary, ZeaCloud Services Private Limited to acquire additional hardware and software.
The issue will comprise a fresh issue of 33,60,000 equity shares with a face value of Rs 10 through the book-building route.
The company has reserved 9.53 lakh equity shares for the anchor portion, 1.76 lakh equity shares for market makers, 4.78 lakh equity shares allocated for high net-worth individuals, 6.36 lakh equity shares for qualified institutional buyers, and Retail portion accounts for 11.15 lakh equity shares.
The anchor portion will be opened on February 15, and the issue will conclude on February 20. The company intends
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