Sahaj Fashions IPO to open on August 25; check price band, key dates

livemint.com:

Sahaj Fashions IPO: Sahaj Fashions' initial public offer (IPO) opens for subscription on Friday, August 25 and closes on Tuesday, August 29. The small-to-medium enterprises (SME) IPO is a fixed price issue and the issue size is ₹13.96 crore. Sahaj Fashions IPO is a fresh issue comprising 4,476,000 shares of the face value of ₹10, aggregating up to ₹13.43 crore.

Sahaj Fashions IPO price has been fixed at ₹30 per equity share at the face value of ₹10 each. Bids can be made for a minimum of 4,000 equity shares and in multiples of 4,000 equity shares thereafter. Sahaj Fashion IPO's basis of allotment shares will be done on Friday, September 1, and the company will initiate refunds on Monday, September 4.

The shares will be credited to the demat account of allottees on Tuesday, September 5. Sahaj Fashion shares are likely to be listed on NSE SME on Wednesday, September 6. The company intends to utilize the net proceeds from the issue towards the funding of working capital requirements including margin money, prepayment/repayment of certain secured borrowings availed by the company, and for general corporate purposes.

Rohit Toshniwal, Sadhana Toshniwal, Norat Mal Choudhary, Prabha Lakhotia, Rakesh Choudhary, Mukul Lakhotia, and Nitin Toshniwal are the company's promoters. Bigshare Services Pvt Ltd is the IPO registrar and Khambatta Securities Limited is the IPO lead manager. Sahaj Fashions Limited is involved in the manufacture of fabric for garment making, home furnishings, and industrial applications.