Mumbai-based jewellery manufacturer Retaggio Industries' initial public offering is set to hit Dalal Street on March 27. It proposed to raise Rs 15.5 crore via initial share sale of 61.98 lakh shares, at a price of Rs 25 per share.
The IPO comprises of solely fresh issue, closing on April 1.
The company is going to finalise the IPO share allotment by April 2, while investors can start trading in its equity shares on the BSE SME effective April 4.
Retaggio , which specialises in crafting heritage and high-end jewellery pieces with experience in B2B sector, intends to utilise IPO proceeds mainly for repayment of debt, and working capital requirements.
The company has reserved half of its net issue size for retail investors, and the remainder shares for non-retail investors.
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The merchant banker handling the public issue is Gretex Corporate Services.
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