Chennai-based travel and tourism service aggregator LGT Business Connextions is set to hit Dalal Street with its initial public offering (IPO) next week on August 19. The subscription will remain open till August 21.
The company will finalise the IPO share allotment by August 21. Its shares will be available for trading on the BSE SME effective August 26.
The price for the fixed price issue has been fixed at Rs 107 per share.
The Rs 28.09-crore IPO consists of fresh issue of 23.62 lakh shares worth Rs 25.28 crore, and an offer-for-sale of 2.62 lakh shares worth Rs 2.81 crore by promoter Wilfred Selvaraj.
The company, that valued at Rs 100 crore, intends to utilise fresh issue proceeds for its capital expenditure, working capital requirement, and general corporate purpose.
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LGT Holidays, that competes with listed entity International Travel House which is more than double in revenue compared to LGT, has reported healthy growth on the financial front in the last three years. Profit in the fiscal 2025 grew by 43.6 percent to Rs 5.2 crore and revenue increased by 12.4 percent to Rs 100.4 crore compared to previous financial year.
Mark Corporate Advisors is the sole book running lead manager appointed for handling the LGT Business Connextions IPO.
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