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Indo Thai Securities IPO opens subscription
Stock broking firm Indo Thai Securities has opened its initial public offering of 40 lakh equity shares for subscription today. The company has fixed IPO price band at Rs 70-84 a share.
Stock broking firm Indo Thai Securities has opened its initial public offering of 40 lakh equity shares for subscription today. The company has fixed IPO price band at Rs 70-84 a share.
The issue will close on October 5. Bids can be made for minimum of 80 equity shares and in multiples of 80 shares thereafter.
The shares will list on both National Stock Exchange and Bombay Stock Exchange.
Company intends to spend IPO money for expansion and upgradation of existing branches and setting up branch network (with an outlay of Rs 2 crore), purchasing of office space for Mumbai regional office (with cost of Rs 4 crore), purchasing and setting up of office space for corporate office (with Rs 4 crore), brand building and advertising (Rs 3 crore) and augmenting long term working capital requirement (Rs 10 crore).
Corporate Strategic Allianz Limited is the book running lead manager to the issue.
