Mumbai (Maharashtra) [India] September 5: Share Samadhan Limited, a unique provider of investment retrieval, wealth protection, and litigation funding solutions, has announced its plan to go public with an IPO on September 9, 2024. The company aims to raise ₹ 24.06 Crores, with shares to be listed on the BSE SME platform.
The issue size is Up To 32 51,200 equity shares at a face value of ₹ 10 each.
Equity Share Allocation
- QIB Anchor Portion – Up to 9,23,200 Equity Shares
- Qualified Institutional Buyers (QIB) – Up to 6,19,200 Equity Shares
- Non-Institutional Investors (NII) – Not less than 4,64,000 Equity Shares
- Retail Individual Investors (RII) – Not less than 10,81,600 Equity Shares
- Market Maker – Up to 1,63,200 Equity Shares
The net proceeds from the Issue will be utilised primarily for investment in technology, unidentified acquisition of the company (In India or abroad), working capital requirements, general corporate purposes, and meeting the Issue Expenses. The issue will open for subscription on September 9, 2024 and closes on September 11, 2024.
The Lead Manager to the Issue is Narnolia Financial Services Limited, and The Registrar to the Issue is Skyline Financial Services Private Limited.
Mr Abhay Kumar Chandalia, Managing Director of Share Samadhan Limited, expressed, “This milestone marks a significant achievement for Share Samadhan, highlighting our progress and advancements in investment retrieval, wealth protection, and litigation funding solutions since our inception. Our journey has been dedicated to providing investors with comprehensive solutions to reclaim their lost, blocked, or forgotten investments.
From physical shares to mutual funds, provident funds, fixed deposits, insurance, bank deposits, debts, and other asset classes, we’ve made it our mission to help investors recover their rightful assets and secure their financial futures. The IPO will expand our operations, enhance market presence, fuel growth opportunities, and bolster our corporate image and brand while establishing a public market for our company.”
Mr. Vipin Aggarwal, Chairman and Managing Director of Narnolia Financial Services Limited, said, “As we prepare to launch the Share Samadhan IPO, we are excited about the opportunities in the rapidly expanding financial sector. This IPO allows investors to engage with a company that is leading the way in investment retrieval, wealth protection, and litigation funding solutions.
Share Samadhan excels in reclaiming lost, blocked, or forgotten investments across various financial assets. With a focus on delivering comprehensive, hassle-free solutions, Share Samadhan is poised to lead the industry, ensuring investors can recover their wealth efficiently and securely.
This IPO is set to fuel our growth and generate significant value for our investors, offering a promising return on investment.
If you have any feedback or objections to this press release content, we encourage you to contact [email protected]. We are committed to addressing any concerns and ensuring the accuracy of our communications within 24 hours.
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