PNN
Mumbai (Maharashtra) [India], November 3: ROX Hi-Tech Limited, a customer-centric IT solutions provider, has announced its plans to go public with an Initial Public Offering on 07th November 2023. The company is aiming to raise Rs 54.49 Crore on upper band price through this IPO, with shares set to be listed on the NSE EMERGE platform.
The issue size is Up to 65,64,800 equity shares at a face value of Rs 10 each.
Equity Share Allocation
* QIB Anchor Portion - Up To 15,76,000 Equity Shares
* Qualified Institutional Buyers (QIB) - Up To 10,51,200 Equity Shares
* Non-Institutional Investors (NII) - Up To 8,96,000 Equity Shares
* Retail Individual Investors (RII) - Up To 21,93,600 Equity Shares
* Market Maker - 8,48,000 Equity Shares
The net proceeds from the IPO will be utilized towards funding capital expenditure, meeting working capital requirements, and for general corporate purposes. The bidding for the Anchor portion will open on 06th November 2023, and the issue closes on 09th November 2023.
The Book Running Lead Manager to the Issue is Swaraj Shares and Securities Private Limited. The Registrar to the Issue is Purva Sharegistry India Private Limited.
Jim Rakesh, Managing Director of ROX Hi-Tech Limited, said, "We are thrilled to embark on this exciting journey by taking ROX Hi-Tech Limited public. This milestone reflects our commitment to delivering exceptional IT solutions and our dedication to innovation. We are confident that this IPO will enable us to further enhance our capabilities and serve our clients with excellence.
The net proceeds from this IPO will be instrumental in funding our capital expenditure and meeting our working capital requirements. This strategic allocation of funds aligns with our vision for continued growth and innovation, allowing us to maintain our position as a leading IT solutions provider."
Pankita Patel, Director of Swaraj Shares and Securities Private Limited, said, "ROX Hi-Tech Limited's decision to go public signifies a significant moment in their journey. Their commitment to delivering exceptional IT solutions and dedication to innovation have made them a standout player in the industry. This IPO not only signifies their confidence in their capabilities but also opens doors to new opportunities and growth. We are honoured to be part of this milestone and are enthusiastic about the promising future that lies ahead for ROX Hi-Tech Limited."
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