Chavda Infra IPO: Gujarat-based Company to Launch IPO on September 12, 2023
Gujarat-based Chawda Infra Company is all set to launch its Initial Public Offering (IPO) on September 12, 2023. The IPO will remain open for investment until September 14, 2023. Chavda Infra Company has fixed the price band of Rs 60 to Rs 65 per share for its IPO. The company plans to sell 66.56 lakh fresh equity shares in the open market.
Gray Market Experts Predict Premium Trading Price for Chawda Infra Shares
According to gray market experts, shares of Chawda Infra are currently trading at a premium price of Rs 20 in the gray market. This indicates a positive sentiment towards the company’s IPO. Chawda Infra Company aims to raise capital of Rs 27 crore through its IPO.
Utilization of Proceeds from the IPO
The proceeds from the IPO will be primarily used by Chavda Infra Company to meet its working capital requirements and for general corporate purposes. The funds raised will also contribute to the IPO issue.
About Chavda Infra Company
Chavda Infra is primarily engaged in the business of construction and development of residential and commercial projects in the state of Gujarat. The company has reserved 31.6 lakh shares, or half of its IPO, for eligible institutional investors. High net worth investors have a quota of 15 percent, while retail investors have a quota of 35 percent, which amounts to 22.12 lakh shares.
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