Arvind and Company Shipping Agencies to Launch IPO under Arcadia Group
Arvind and Company Shipping Agencies, a commercial barge service provider under the Arcadia group, is excited to announce its upcoming initial public offering (IPO). This significant milestone will take place on Thursday, October 12, 2023. Read on to discover more about this exciting opportunity and what it means for investors.
Details of the IPO
Managed by Beeline Capital and Skyline Financial, the IPO will involve a fresh issue of 32.76 lakh shares priced at ₹45 each. This issuance is expected to aggregate to ₹15 crore, providing investors with an excellent opportunity to be part of Arvind and Company Shipping Agencies’ growth story.
Investors are encouraged to bid for at least 3,000 shares per lot, with half of the offering reserved exclusively for retail investors. This inclusive approach ensures that everyone has a chance to participate in this exciting IPO. The IPO will close on Monday, October 16, with share allotment scheduled for Thursday, October 19.
Listing and Use of Proceeds
Arvind and Company Shipping Agencies plans to list on the National Stock Exchange’s Small and Medium Enterprises (NSE SME) platform on Wednesday, October 25. The proceeds from the IPO will be utilized to meet capital expenditure needs and other corporate purposes, further strengthening the company’s position in the market.
Successful Year and Future Outlook
The decision to go public comes on the heels of a successful fiscal year in 2023 for Arvind and Company Shipping Agencies. The company reported revenue and net profit of ₹8.4 crore and ₹3.4 crore, respectively. With the IPO, the company aims to leverage its strong performance and expand its operations to new horizons.
Arvind and Company Shipping Agencies has established itself as a trusted name in the commercial barge service industry. The IPO provides an exciting opportunity for investors to join forces with a company that is poised for growth and committed to delivering value to its shareholders.
Don’t miss out on this chance to be part of Arvind and Company Shipping Agencies’ journey towards success. Mark your calendars for October 12, 2023, and get ready to participate in this remarkable IPO. Stay tuned for more updates and information!