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BCB Finance IPO opens on February 23
Mumbai based non-banking finance company BCB Finance is entering capital market with a public issue of 35.4 lakh equity shares of face value of Rs 10 each on February 23, 2012.
Mumbai based non-banking finance company BCB Finance is entering capital market with a public issue of 35.4 lakh equity shares of face value of Rs 10 each on February 23, 2012.
The company will raise Rs 8.85 crore through the issue, which will close on February 27 and the issue price is fixed at Rs 25 a share.
It is a small & medium enterprise and will be listing its shares on the BSE's SME platform.
BCB Finance operates as a non deposit taking non-systemically important non-banking finance company (NBFC-NDNSI) engaged primarily in the business of advancing loans and investing/trading in securities.
Company intends to use issue proceeds for augmenting capital base and fund requirements for increasing operational scale with respect to NBFC activities (with an outlay of Rs 7.5 crore).
Bagri family, a promoter, will reduce its stake to 69.22% from 100% via this issue.
Aryaman Financial Services Limited is the book running lead manager to the issue.
