Arvind and Company Shipping Agencies IPO hits Street: From issue price to listing date, here’s all you need to know

Arvind and Company Shipping SME IPO: Arvind and Company Shipping Agencies launched an initial public offer (IPO) on Thursday, October 12. The IPO of Arvind and Company Shipping Agencies Ltd (ACSAL) comprises fresh issuance of 32.8 lakh shares worth an estimated Rs 14.7 crore.

Here are some of the important things to know about the Arvind and Company Shipping Agencies ltd (ACSAL) IPO:

Important dates

The public offer, a fixed price issue, is open for subscription from 10 am to 5 pm for three trading days, ending Monday, October 16. The basis of the allotment of shares under the IPO will be finalised tentatively on October 19.

Successful bidders will get shares credited into their demat accounts on October 23, whereas other participants will have refunds initiated on October 20.

Arvind and Company Shipping SME IPO listing date

The Arvind and Company Shipping stock will be listed on the NSE SME platform, tentatively on October 25. The company has set a price band of Rs 45 apiece for the IPO, translating to Rs 1,35,000 per lot given the lot size of 3,000 shares.

Arvind and Company Shipping IPO: Book Running Lead Managers, registrar

Beeline Capital Advisors is the book-running lead manager for the issue, whereas Skyline Financial Services is the registrar.

Arvind and Company Shipping IPO: Fund utilisation

The company plans to utilise the proceeds from the issue towards funding its capex, general corporate purposes, and for meeting its public issue expenses.

What do Arvind and Company Shipping Agencies do?

Incorporated in September 1987, Jamnagar, Gujarat-based Arvind and Company Shipping Agency is in the business of carrying and forwarding agents. The company operates in vessels like cargo barges, flat top barges, crane mounted barges, hopper barges, spud barges and tugs for cargo.

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