Spectrum Talent Management will launch an initial public offering (IPO) of an estimated value of Rs 105 crore, on June 9, as per the details shared by the global talent acquisition company on June 6.
The IPO will be launched on the National Stock Exchange (NSE) platform, and its closing day will be June 14. The price band for the IPO has been set at Rs 169 to Rs 173 per share, the release noted, adding that this takes the overall offer size to "approximately Rs 105.14 crore at the upper price band".
The IPO will be a book-building issue, comprising a fresh issue of 51,85,600 equity shares and an offer for sale of 8,92,000 equity shares, the company said.
Investors can participate in the offer by "bidding in multiples of 800 equity shares", it added, noting that the bidding process will be opened for both retail and institutional investors.
Also Read | Details from Spectrum Talent's IPO draft papers
The proceeds from the IPO will be utilised for "working capital requirements, acquisitions of businesses in similar or complementary areas, general corporate purposes and meeting its issue expenses", the release said.
"The company aims to capitalize on the growing demand for talent management services in an increasingly competitive business environment," it added. The book-running lead manager for the IPO is Sarthi Capital Advisors.
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