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Continental Seeds and Chemicals Ltd. IPO Opens on March 21, 2018 | |||
New Delhi, Delhi, India Delhi based Continental Seeds and Chemicals Limited engaged in the business of developing, processing, grading and supplying of all kind of agricultural foundation and certified seeds and trading of Mentha Oil, is all set to launch its maiden IPO offering 16,20,000 equity shares at issue price of Rs. 10 each making the issue size of around Rs. 4.21 crores. The shares of the company will list on NSE Emerge. The sole lead manager to this issue is Navigant Corporate Advisors Limited and Registrars to the issue are MAS Services Limited. The main objectives of the company to come up with an IPO are to reduce its debt, to part finance working capital requirements of the Company, to meet General corporate purposes and meet the expenses of the Issue.
Talking on the context of utilizing funds raised through the IPO, Mr. Praveen Rastogi, Chairman and Managing Director, Continental Seeds and Chemicals Ltd., said, “The Company is on growth path and anticipated growth will push requirements of extended working capital and adequate working capital is required for smooth and uninterrupted operations of the Company and will enhance the turnover and profits."
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