PNN
Mumbai (Maharashtra) [India], May 7: Finelistings Technologies Limited, one of the leading player in the luxury car retail and software development sectors, has announced its plan to go public with an Initial Public Offering (IPO) on May 07, 2024. The company is aiming to raise Rs 13.53 Crore at the price of Rs 123per share through this IPO, with shares set to be listed on the BSE SME platform.
The issue size is Up to 11,00,000 equity shares at face value of Rs 10 each.
Equity Share Allocation
* Non-Institutional Investors (NII) - Up To 5,21,000 Equity Shares
* Retail Individual Investors (RII) - Up To 5,21,000 Equity Shares
* Market Maker - Up To 58,000 Equity Shares
The net proceeds from the IPO will be utilized for thePurchase of Software, meet Working Capital Requirements, and for General Corporate Purposes. The Issue closes on 09thMay 2024.
The Lead Manager to the Issue is Fedex Securities Private Limited. The Registrar to the Issue is Skyline Financial Services Private Limited.
Arjun Singh Rajput, Managing Director ofFinelistings Technologies Limited expressed, "We are gladto announce our Initial Public Offering and take this significant step in the growth journey of FinelistingsTechnologies Limited. This IPO marks a new chapter for us, enabling us to further expand our operations and offerings in the luxury car retail and software development sectors.
The funds raised through this IPO will be utilized to purchase software, meet working capital requirements, and for general corporate purposes, enabling us to enhance our services, expand our reach, and drive future growth. Our goal is to revolutionize the luxury car retail industry by providing a seamless online-to-offline automotive ecosystem that enhances connectivity and accessibility for our customers. We are committed to delivering superior customer experiences through our rigorous inspection and certification process, comprehensive after-sales services, and innovative technological solutions."
Uday Nair, Director of Fedex Securities Private Limited said, "We are delighted to be associated with Finelistings Technologies Limited. This IPO marks an exciting milestone for Finelistings Technologies Limited, presenting a significant opportunity for the company to accelerate its growth trajectory. With its strong presence in the luxury car retail and software development sectors, Finelistings Technologies Limited is well-positioned to capitalize on the expanding market demand. With a solid foundation and a clear vision for the future, we are confident that Finelistings Technologies Limited will continue to achieve new heights of success."
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