Tarini International to launch ₹16-cr IPO on June 9

Our Bureau Mumbai | Updated on June 05, 2014 Published on June 05, 2014

Tarini International Ltd is set to launch its Initial Public Offering on June 9 with an issue of 39.78 lakh equity shares at an issue price of ₹41 per share to raise total funds of ₹16.30 crore. The issue closes on June 13.

After allowing for reservation of 2.01 lakh equity shares for market maker, the net issue to the public will be 37.7 lakh equity shares.

The equity shares are proposed to be listed on the SME platform of the BSE. Guiness Corporate Advisors is the lead manager for the issue and Link Intime India is the registrar to the issue.

According to a company statement, Tarini International proposes to utilise part of the net proceeds of the issue to finance long-term incremental working capital requirements and also for brand building. Further, it also proposes to renovate its registered office and meet general corporate expenses from the funds raised through this IPO, the company statement added.

The company has evolved as an engineering arm to provide financial and technical consultancy related to hydro power generation, transmission and distribution and infrastructure. 

Published on June 05, 2014
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