the BSE SME Grants Approval to Atharva Polyplast Ltd. for IPO Launch
In a significant development, Atharva Polyplast Ltd. has received the go-ahead from the the BSE SME to mobilize funds through its Initial Public Offer (IPO).
Obtaining SEBI’s observation letter officially signals the green light to proceed with the public issue. According to the Draft Red Herring Prospectus (DRHP).Breakdown of the Proposed IPO:
This IPO consists solely of fresh issue of 0.45 crore equity shares worth ₹27.00 crores.
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding Capital Expenditure of our Company | 3.00 |
| 2 | Repayment and/or pre-payment, in full or part, of borrowing availed by our Company | 3.00 |
| 3 | Funding working capital requirements of the Company | 13.00 |
| 4 | General Corporate Purpose |
