Non-banking finance company Dar Credit and Capital's initial public offering is set to hit Dalal Street next week on May 21. It aims to raise Rs 25.66 crore via public issue which comprises of solely fresh issue of 42.76 lakh shares.
The price band for the offer, which will close on May 23, has been fixed at Rs 57-60 per share.
The company has reserved half of its net public issue size for qualified institutional buyers, 35 percent shares of the net offer for retail investors, and the remainder for non-institutional investors.
Dar Credit and Capital, which provides personal loans and MSME loans, seeks valuations of Rs 85.66 crore.
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The IPO funds worth up to Rs 22 crore will be utilised mainly for augmenting the capital base of the company, and the remainder proceeds for general corporate purposes.
GYR Capital Advisors is acting as the book-running lead manager to Dar Credit and Capital IPO.
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