Business Standard

Storage Technologies & Automation Ltd - IPO

Issue Type

Book Building - SME

Issue Size (₹ Cr.)

29.95 cr

Price Range (₹)

78

Lot Size

1600

Min Investment (₹)

1,24,800.00

Listing Exchange

BSE - SME

Open Date

30-Apr-2024

Close Date

03-May-2024

Listing Date

08-May-2024

Storage Technologies & Automation Ltd News

    Storage Technologies & Automation Ltd IPO Details

    Public issue of upto 38,40,000 equity shares of face value of Rs. 10/- each (Equity Shares) of Storage Technologies and Automation Limited (Storage Technologies or the Company or the Issuer) for cash at a price of Rs. 78/- per equity share including a share premium of Rs. 68/- per equity share (the Issue Price) aggregating to Rs. 29.95 crores (The Issue), of which 2,00,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 78/- per equity share including a share premium of Rs. 68/- per equity share aggregating to Rs. 1.56 crores will be reserved for subscription by market maker to the issue (the Market Maker Reservation Portion). The issue less the market maker reservation portion i.e. net issue of 36,40,000 equity shares of face value of Rs. 10/- each at a price of Rs. 78/- per equity share including a share premium of Rs. 68/- per equity share aggregating to Rs. 28.39 crores is herein after referred to as the Net Issue. The issue and the net issue will constitute 29.91 % and 28.35 % respectively of the post issue paid up equity share capital of the company. The face value of the equity shares is Rs. 10/- each. The face value of the equity shares is Rs. 10/- each and the issue price is Rs. 78/-. The issue price is 7.8 times of the face value.

    Objective of issue

    To meet working capital requirements. General corporate expenses.

    Storage Technologies & Automation Ltd Contact Details

    Storage Technologies & Automation Ltd, #30 Ramana Residency, 4th Cross Sampige Rd, Malleswaram, Bangalore - 560003

    Phone - 91-80-23460815-818

    Fax - 91-80-23460819

    Email - cs@racksandrollers.com

    Website - https://racksandrollers.com