IPO | Image credit: Shutterstock Canarys IPO: Canarys, a provider in digital transformation solutions covering digitalisation, modernisation, automation, and intelligence, has announced its plans to go public through an Initial Public Offering (IPO) scheduled for September 27, 2023. The company aims to raise Rs 47.03 crore at the upper band price, with its shares set to be listed on the NSE EMERGE platform. The IPO will consist of up to 1,51,72,000 equity shares, each with a face value of Rs 2. The bidding process for anchor investors will commence on September 26. The equity share allocation will be as follows: Qualified Institutional Buyers (QIB) – Up to 72,00,000 equity shares Non-Institutional Investors (NII) – Up to 21,64,000 equity shares Retail Individual Investors (RII) – Up to 50,48,000 equity shares Market Maker – 7,60,000 equity shares The funds generated from the IPO will be utilised for several key purposes, including the development of digital transformation solutions and water resources management solutions, establishing new delivery centres, upgrading existing infrastructure, addressing working capital requirements, and supporting general corporate initiatives. The IPO window will close on October 3, 2023. This is a modal window. No compatible source was found for this media. Indorient […]
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