Debenture trustee Beacon Trusteeship Ltd on Wednesday announced it is aiming to raise just over Rs 32 crore through its initial share sale, opening for public subscription on 28 May.
The Mumbai-based company has set a price range of Rs 57-60 per share for the issue, with a lot size of 2,000 equity shares.
The IPO includes a fresh issue of 38.72 lakh equity shares worth Rs 23.23 crore and an offer for sale of up to 15.48 lakh equity shares worth Rs 9.29 crore. This brings the total to Rs 32.52 crore at the upper end of the price range.
Those selling shares in the OFS are Prasana Analytics Private Limited and Kaustubh Kiran Kulkarni.
The issue will close on 30 May, with bidding for anchor investors opening for one day on 27 May. After the successful completion of the IPO, the company's shares will be listed on NSE Emerge, Beacon Trusteeship said in a statement.
Of the IPO proceeds, the company plans to use Rs 7 crore to develop technology infrastructure for its existing business, Rs 6.99 crore to invest in its subsidiary Beacon Investor Holdings to start the services of depository participant, Registrar and Share Transfer agent, and Rs 3.25 crore to purchase new office premises at Borivali in Mumbai. A portion will also be used for general corporate expenses.
In terms of finances, the company recorded a revenue of Rs 19.92 crore with a profit of Rs 5.16 crore in the financial year 2023-24, compared to a revenue of Rs 14.81 crore and a profit of Rs 3.84 crore in the fiscal year 2022-23.
With inputs from PTI.
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