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Sylvan Plyboard (India) Ltd Plans for Rs. 28.05 Crore IPO; Public Issue open from June 24-26, 2024
Mumbai (Maharashtra) [India], June 22: Hooghly, West Bengal-based Sylvan Plyboard (India) Ltd, manufactures of various wood products such as plywood, blockboard, and flush door etc, is planning to raise up to Rs. 28.05 crore from its SME public issue. The company has received approval to launch its public issue on the NSE Emerge platform of [...]
Mumbai (Maharashtra) [India], June 22: Hooghly, West Bengal-based Sylvan Plyboard (India) Ltd, manufactures of various wood products such as plywood, blockboard, and flush door etc, is planning to raise up to Rs. 28.05 crore from its SME public issue. The company has received approval to launch its public issue on the NSE Emerge platform of the National Stock Exchange of India Limited. The public issue will open for subscription on June 24, 2024 and close on June 26, 2024. The proceeds of the public issue will be utilized to fund the company’s expansion plans, including capital expenditure towards the purchase of additional plant and machinery, meeting working capital requirements, general corporate purposes, and issue-related expenses. Finshore Management Services Limited is the lead manager of the issue
The Company is planning to issue 51 lakh equity shares of face value of Rs. 10 each at a price of Rs. 55 per share. The shares will be listed on the NSE EMERGE platform of the National Stock Exchange (NSE).
The initial public offering of Rs. 28.05 crore comprises a fresh issue of 51 lakh equity shares of face value of Rs. 10 each at Rs. 55 per share. Out of the issue proceeds, the company will utilize Rs. 3.71 crore for the purchase of additional plant and machinery, Rs. 16.93 crore towards working capital requirements, Rs. 3.10 crore towards issue-related expenses, and Rs. 4.31 crore towards general corporate purposes. The minimum lot size for the application is 2,000 shares, which translates to an investment of Rs. 1,10,000 per application
