Ashapura Intimates Fashion Ltd, a company in the business of marketing and retailing of intimate garments such as loungewear, lingerie, bridal nightwear, plans to raise Rs 21 crore through an initial public offering of 52.5 lakh shares. The price has been fixed at Rs 40 a share.
The shares are proposed to be listed on the SME Exchange of the BSE. The IPO will open between March 28 and April 4.
CARE has given the company’s IPO a rating of 4/5, indicating very good fundamentals.
KJMC Corporate Advisors (India) is the sole lead manager to the issue.