PNN
Mumbai (Maharashtra) [India], September 22: NewJaisa Technologies Limited, India’s leading IT electronics refurbishing company, has announced its plans to go public with an Initial Public Offering (IPO) on September 25th, 2023. The company is aiming to raise Rs 39.93 crore on upper band price through this IPO, with shares set to be listed on the NSE EMERGE platform.
The fresh issue size is 84,96,000 equity shares at face value of Rs 5 each. The Bid opens for Anchor Investors on September 22nd, 2023.
Equity Share Allocation
* Qualified Institutional Buyers (QIB) – Up To 40,32,000 Equity Shares
* Non-Institutional Investors (NII) – Up To 12,12,000 Equity Shares
* Retail Individual Investors (RII) – Up To 28,26,000 Equity Shares
* Market Maker portion – 4,26,000 Equity Shares
The net proceeds from the IPO will be utilised for Expansion of refurbishment facility and purchase of plant, machinery and equipment, Investment in technology development, Branding & Marketing, Funding Working Capital requirement,Repayment of Bank facilities and General Corporate purposes. The issue will close on September 27, 2023.
The Book Running Lead Manager to the Issue is Indorient Financial Services Limited. The Registrar to the Issue is Bigshare Services Private Limited.
Vishesh Handa, Chairman and Managing Director of NewJaisa Technologies Limited said, " We aim to provide budget-friendly, environmentally friendly IT products through top-notch refurbished electronics, primarily for the Indian market, serving customers nationwide via online platforms.
IPO funding will provide us with the necessary resources to meet our growth capital needs and achieve our long-term vision. Additionally, the IPO will also enhance our brand."
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