Arvind and Company Shipping Agencies Ltd. (ACSAL), a carrying and forwarding agent based in Jamnagar, launched its initial public offering (IPO) on Thursday. The IPO is managed by Beeline Capital Advisors Private Limited, while Skyline Financial Services Pvt. Ltd is serving as the registrar of the offering.
The company has priced its shares at ₹ 45 apiece, intending to raise ₹ 14.74 crore via the issuance of 3,276,000 shares. The shares are offered in lots of 3,000, amounting to ₹ 1,35,000 per lot. The issue will remain open for trading until Monday, with trading hours extending from 10 am to 5 pm for these three days.
The funds raised from the IPO will be directed towards capital expenditures, general corporate expenses, and public issue costs. A portion of the proceeds will also be allocated towards a business expansion investment worth ₹ 182.05 lakh.
ACSAL operates in the chartering and hospitality sectors with properties such as "Hotel Millennium Plaza" and "Hotel 999".
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