SKP Bearing Industries Ltd - IPO

SKP Bearing Industries Ltd IPO Details

Initial public offering of 44,00,000 equity shares of face value of Rs. 10 each (Equity Shares) of SKP Bearing Industries Limited (SKP or The Company or The Issuer) for cash at a price of Rs. 70 per equity share (including a premium of Rs. 60 per equity share) (Offer Price) aggregating Rs. 30.80 crores comprising of fresh offer of 16,00,000 equity shares aggregating to Rs. 11.20 crores (Fresh Offer) and an offer for sale of 28,00,000 equity shares by Mr. Shrinand Kamlakar Palshikar and Ms. Sangita Shrinand Palshikar (Selling Shareholders) aggregating to Rs. 19.60 crores (Offer for Sale) (The Offer) of which 2,20,000 equity shares aggregating to Rs. 1.54 crores will be reserved for subscription by market maker (Mmarket Maker Reservation Portion). The offer less the market maker reservation portion i.e. offer of 41,80,000 equity shares of face value of Rs. 10 each at an offer price of Rs. 70 per equity share aggregating to Rs. 29.26 crores (Net Offer). The offer and the net offer will constitute 26.51% and 25.18% of the post-offer paid-up equity share capital of the company.The face value of the equity shares is Rs. 10 each and the offer price is 7 times of the face value.

Objective of issue

Funding working capital requirements. General corporate purposes.

SKP Bearing Industries Ltd Contact Details

SKP Bearing Industries Ltd, Office No 56-2, Pinnacle Busine.Park, Mahakali Caves Road, Mumbai - 400093

Phone - 91-22-62638200

Fax - 91-22-63638299

Email - info@skpbearings.com

Website - www.skpbearings.com