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The price band of Birla Pacific Medspa Ltd's Initial Public Offering (IPO) of Rs 65 crore has been fixed at Rs 10-11 a share.
The issue opens on June 20 and closes on June 23. The promoter's stake post the issue would be 41 per cent.
The company plans to utilise the IPO proceeds on brand promotion and working capital and more importantly to establish 55 outlets of Evolve Medspa across various cities in India.
The issue has been assigned “BWR IPO Grade 2” by Brickworks Rating India indicating “below average fundamentals”. Arihant Capital Markets Ltd is the Book Running Lead Manager (BRLM) and Adroit Corporate Services is the registrar to the issue.
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