Siddhi Cotspin Ltd - IPO

Siddhi Cotspin Ltd IPO Details

Initial public offer of 64,68,000 equity shares of face value of Rs. 10/- each of Siddhi Cotspin Limited (SCI or the Company or the Offer or) for cash at a price of Rs. 108/- per equity share including a share premium of Rs. 98/- per equity share (the offer price) aggregating to Rs. 69.85 crores (the offer) comprising of a fresh issue 49,44,000 equity shares aggregating to Rs. 53.40/- crores (the fresh issue) and an offer for sale of 15,24,000 equity shares by promoter selling shareholder- Navin Saraogi and selling shareholder - Vineeta Vishal Chiripal aggregating to Rs.16.46/- crores (offer for sale), of which 3,24,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 108/- per equity share including a share premium of Rs. 98/- per equity share aggregating to Rs. 3.50 crores will be reserved for subscription by market maker to the offer (the market maker reservation portion). The offer less the market maker reservation portion i.e. net offer of 61,44,000 equity shares of face value of Rs. 10/- each at a price of Rs. 108/- per equity share including a share premium of Rs. 98/- per equity share aggregating to Rs. 66.36 crores is herein after referred to as the net offer. The offer and the net offer will constitute 26.50% and 25.17%, respectively, of the post offer paid up equity share capital of the company.

Objective of issue

Funding the working capital requirements. Repayment of prepayment of all or a portion of certain outstanding borrowings. General corporate purpose.

Siddhi Cotspin Ltd Contact Details

Siddhi Cotspin Ltd, Karvy Selenium Tow-B, 31&32 Financial Dist, Nanakramguda, Hyderabad-500032

Phone - 91-40-67162222

Fax - 91-40-23001153/23420814

Email - cs@siddhicotspin.com

Website - www.siddhicotspin.com