Aspire & Innovative Advertising Limited IPO to open on 26th march sets price band at Rs. 51 to Rs. 54 per share
Mumbai (Maharashtra) [India] March 23: Established in 2017, Aspire & Innovative Advertising Limited is involved in sales & doorstep delivery of consumer durables products to un-banked and underbanked customer segments through commercial agreements with NBFCs & MFIs. The company is poised for its initial public offering (IPO), with plans to raise INR 21.97 crores through the issuance of 40.68 lakh new shares.
For its SME Initial Public Offering (IPO), Aspire & Innovative Advertising Limited has established a price band of Rs. 51 to Rs. 54 per share. The company’s shares will open for subscription on March 26, 2024 and closes on March 28, 2024. These will be listed on the NSE Emerge, with a projected listing date of Wednesday, April 3, 2024
Hem Securities Limited is the book running lead manager of the Aspire & Innovative IPO, while Bigshare Services Pvt. Ltd is the registrar for the issue.
The issue proceeds will be utilized in financing the cost of establishing new warehouses, to meet working capital requirements and general corporate purposes. On Monday, April 1, 2024, the shares for the Aspire & Innovative Advertising IPO are anticipated to be allotted, and on Tuesday, April 2, 2024, the shares will be credited to the demat account of the allottees. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment.
Retail investors need to contribute a minimum of Rs. 1.08 lakh considering the minimum lot size for an application is 2000 shares. For HNIs, the minimum bidding size is two lots, or 4000 shares, for a total investment of Rs. 2.16 lakh at the upper price band.
Aspire & Innovative Advertising Limited’s revenue increased by 35.46% and profit after tax (PAT) rose by 21.38% between the financial year ending with March 31, 2023 and March 31, 2022.
Aspire & Innovative Advertising Limited offers 50+ products, including Mobile phones and accessories, cookware, electronics, and appliances such as pressure cookers, induction cooktops, mixer-grinders, dinner sets, sewing machines, fans, irons, bulbs, heaters, phones, TVs, refrigerators, washing machines, headphones, and solar lanterns. The company’s asset-light model incurs expenses for facilitation fees and commission paid to intermediaries. The company has commercial arrangements with 15+ intermediaries and operates 19 warehouses in 16 states.
If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.
