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ICL Organic Dairy announces launch of initial public offering

Share Source By

Dion Global

30 Jan 2020

ICL Organic Dairy Products Ltd. has announced public offering of 2040000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 10.00 per share. The gross proceeds of the issue are expected to be Rs 408.00 lakhs.

The company's initial public offer (IPO) will open on 31 January 2020 and is expected to close on 04 February 2020, subject to customary closing conditions.

The IPO includes a fresh Issue of 2040000 Equity Shares of the Company at an price of Rs 20.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 6000 shares with bids in multiples of 6000.

ICL Organic Dairy Products Ltd. anticipates using the proceeds of the issue for A To meet the working capital requirements of the companyB To meet the Issue ExpensesC General Corporate Purposes.

Finshore Management Services Ltd. as lead manager & CAMEO CORPORATE SERVICES LTD is the registrar, to the issue.