MUMBAI: The initial public offering (IPO) of Abhishek Integration Ltd will open on 8 June and close on 11 June. The firm plans to issue 9.9 lakh shares at a price of Rs50 apiece, aiming to Rs4.95 crore. The issue comprises up to 54,000 shares for market participants and remaining 9.36 lakh shares will be referred as net issue. The proceeds from the IPO will be used for incremental working capital requirements and general corporate purpose. As on March 2021, the company's net working capital requirement on restated basis was Rs2.71 crore, with FY22's requirement estimated at Rs7.52 crore.

Source: Mint June 05, 2021 03:45 UTC