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The price band of Rushil Décor Ltd's initial public offering (IPO) of Rs 35-40 crore has been fixed at Rs 63–72 a share. The issue opens on June 20 and closes on June 23. Post issue, the promoter holding in the company will be 62.5 per cent.
The company plans to utilise the IPO proceeds to set up a medium density fibre board plant at Karnataka, to meet working capital requirements, for public issue expenses and for general corporate purposes.
The issue has been assigned the “IPO Grading 2” by ICRA indicating “Below Average Fundamentals.”
Corporate Strategic Allianz is the Book Running Lead Manager and Indbank Merchant Banking Services is the Co Book Running Lead Manager. Bigshare Services Pvt Ltd is the registrar to the issue.
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