Shankara Building Products IPO open an issue of Rs 350 crore, with an issue price of Rs 440-460, on March 22 and will close on March 24. The issue will constitute at least 25 percent of the post offer paid-up equity share capital of the company.
“The issue comprises of a fresh issue of equity shares aggregating up to Rs 45 crore and an offer for sale of up to 8,16,252 shares by promoter Sukumar Srinivas and up to 57,05,488 shares by Fairwinds Trustees Services (acting in the capacity of trustee of Reliance Alternative Investments Fund – Private Equity Scheme I),” the company said in its press release.
Shankara Building Products Ltd is one of India’s leading organised retailers of home improvement and building products, based on number of stores operating under “Shankara Buildpro”. The company’s distribution network, branch offices, warehouses and retail stores are spread across the states of Karnataka, Kerala, Andhra Pradesh, Telangana, Tamil Nadu, Maharashtra, Gujarat, Odisha, Goa, Madhya Pradesh and Puducherry. The company has its own fleet of trucks for transportation to help augment its logistics capabilities and to provide the last mile delivery to its customers. The company’s processing facilities are located in numerous Indian states.
The promoters of the company are:
1.Sukumar Srinivas (Founder and Managing Director)
2. V Ravichandar (Chairman and Non-Executive, Independent Director)
Shankara Building Products IPO Issue Detail:
|Issuer||:||Shankara Building Products Ltd|
|Issuer Open||:||The issue opens on March 22, 2017 and closes on March 24, 2017|
|Price band||:||Rs440 to Rs460 per equity share|
|Lot size||:||32 equity shares and in multiple thereafter|
|Issue size||:||Rs331 crore to Rs345 crore|
|Issue allocation||:||QIB – 50%; NIB – 15%; Retail – 35%|
|Mode of payment||:||ASBA is mandatory (cheque will not be accepted)|
|BRLMs||:||IDFC Bank Ltd, Equirus Capital Pvt Ltd and HDFC Bank Ltd|
|Registrar||:||Karvy Computershare Pvt Ltd|
|Listing||:||Proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange|