Stock Exchange Board of India (SEBI) has approved the initial public offering (IPO) of Jaikumar Constructions on 10th September 2020. The IPO of the company holds 79lakhs of the equity shares of the company for sale.
SEBI’s observations are very necessary for a company to launch its IPO. Following the guidelines of SEBI, the company filed draft papers with SEBI in June 2020 and got the approval on 10th September.
However, the process of offering an IPO is expected to help the company build strong financial sustainability and meet the part financing of the ongoing project ‘Parksyde Business Avenue’ in Nashik. It will also aid the company’s repayment of outstanding debtsand help it meets its general corporate purposes
The company is also focused on enlarging its capital base with benefits receiving from the equity shares on the stock exchange and bring out multiple investors with maximum profit initiatives.
Aryaman Financial Services and Galactico Corporate Services are the lead managers of the issue.
Shares of the company are proposed to be listed on BSE and NSE.