Decorative laminated sheets manufacturer Rushil Decor has opened its initial public offering of 56,43,750 equity shares of face value Rs 10 each for subscription today.
It has fixed price band at Rs 63-72 for the issue, which closes on June 23. The issue includes promoter’s contribution of 2,43,750 equity shares and issue to the public of 54 lakh equity shares.
Company manufactures decorative laminated sheets with a network of branches, distributors and dealers across India. Company offers comprehensive engineered interior products including decorative laminate sheets and plain particle boards.
Issue proceeds are proposed to be used for setting up of medium density fibre board (MDF) plant at Amble Industrial Area, Chikmagalur, Karnataka; and for working capital requirement. The issue will close on June 23.
Corporate Strategic Allianz Limited is the book running lead manager and Indbank Merchant Banking Services Ltd is the co-book running lead manager to the issue.
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