Gretex Share Broking files DRHP with SEBI for IPO
₹10, comprises a fresh issue of 16.78 million equity shares and an offer-for-sale (OFS) of 3.096 million shares by selling shareholders. Also read: Stock market today: Sensex, Nifty 50 fall for second day as geopolitical tensions mount, rate cut hopes fizzle out The offer for sale comprises up to 8.58 lakh shares by Sashi Harlalka, up to 8.58 lakh shares by Sumeet Harlalka, and up to 13.80 lakh shares by Alok Harlalka HUF.
The offer is being made through the book-building process, wherein not more than 50% of the offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer shall be available for allocation to non-institutional investors, and not less than 35% of the offer shall be available for allocation to retail individual investors. Also read: HRH Next Services share price lists at ₹41 apiece on NSE SME, premium of 14% to IPO price The company, in consultation with the book-running lead managers, may consider undertaking a further offer of equity shares of up to 33.12 lakh equity shares as "Pre-IPO placement".
If such placement is completed, the fresh issue size will be reduced. The proceeds from the fresh issue, to the extent of ₹130 crore, will be used for funding the working capital requirements of the company and general corporate purposes.
Pantomath Capital Advisors Limited is the sole book-running lead manager for the IPO, and Bigshare Services Private Limited is the registrar of the offer. The equity shares are proposed to be listed on the BSE and NSE.
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