Atmastco to conduct Rs 56-crore IPO on February 15; View details

Engineering, procurement and construction company Atmastco Ltd on Monday said it will raise slightly over Rs 56 crore through an initial public offering opening for subscription on February 15. Upon completion of the initial public offering (IPO), shares of Bhilai-headquartered company will be listed on the National Stock Exchange’s Small and Medium Enterprises (SME) platform – NSE Emerge.

The company’s IPO includes fresh issue of 5.48 million shares and offer for sale (OFS) of 18.25 million shares at a fixed price of Rs 77 per share, a statement said. At this price, the company will raise Rs 42.2 crore through fresh issue and Rs 1,406 crore through OFS.

Proceeds from the new issue will be used primarily to meet the company’s working capital requirements. Additionally, a portion of the amount will be used for loan repayments and general corporate purposes. The IPO will open for subscription on February 15 and will close on February 20.

The Chhattisgarh-based company has ongoing projects worth over Rs 720 crore. Investors can apply for a minimum of 1,600 shares and can apply for multiples of 1,600 shares thereafter.

Affinity Global Capital Market Private Ltd is the sole lead manager for the public issue.

(This story has not been edited by News18 staff and is published from associated news agency – PTI)