Delhi Stock Exchange listed SMC Global Securities has filed Draft Red herring Prospectus for a follow on offer with capital markets regulator the Securities and Exchange Board of India to sell 1.58 million equity shares, including secondary sale for 7.9 million shares. The company has also proposed to list SMC Global Securities on Bombay Stock Exchange and National Stock Exchange.
The issue would constitute 13.1% the post issue paid up equity capital of the company. Daily trading price for Delhi Stock Exchange listed companies are not available on its website, hence it was not possible to calculate the current value of the shares offered for SMC Global.
Tata Capital and IL&FS Capital Advisors are book running lead managers for the issue.
The company plans to use the fund raised from fresh issue of shares for part payment of term loan and investment into its subsidiary SMC Comtrade.
