24 Mar 2019 | 11:11 AM


Northern Spirits announces launch of initial public offering
Published on 03-15-2019
Northern Spirits Ltd. has announced public offering of 4302000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 33.00 per share. The gross proceeds of the issue are expected to be Rs 1849.86 lakhs.

The company`s initial public offer (IPO) will open on 22 March 2019 and is expected to close on 27 March 2019 subject to customary closing conditions.

The IPO includes a fresh Issue of 4302000 Equity Shares of the Company at an price of Rs 43.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 3000 shares with bids in multiples of 3000.

Northern Spirits 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.

as lead manager & is the registrar to the issue.