Newjaisa Technologies Set to Launch IPO: Key Details and Information.

Newjaisa Technologies Set to Launch IPO: Key Details and Information.

Asif Iqbal | September 23, 2023 | 03:57 PM IST | Breaking News | Follow on Google News

Newjaisa Technologies Set to Launch IPO: Key Details and Information.pic/mint

Newjaisa Technologies Limited’s Initial Public Offering (IPO)

Newjaisa Technologies Limited is all set to make its debut in the primary market with its initial public offering (IPO) scheduled to commence on September 25, 2023, which falls on the following Monday. The IPO is expected to remain open for subscription until September 27, 2023. The price band for the book build issue has been fixed at ₹44 to ₹47 per equity share.

Listing and Fundraising Goals

The company intends to list its shares on the NSE SME exchange and aims to raise ₹39.93 crore from its fresh issue offer. Interestingly, Newjaisa Technologies shares are already available for trade in the unlisted stock market and are currently commanding a premium of ₹5, according to market observers.

Utilization of Funds

The net proceeds from the IPO will be utilized for various purposes, including the expansion of refurbishment facilities, the purchase of plant machinery and technology development equipment, investments in branding and marketing, funding working capital needs, repayment of bank facilities, and general corporate purposes.

Vision and Mission

Vishesh Handa, Chairman and Managing Director of NewJaisa Technologies Limited, articulated the company’s vision, stating, “We aim to provide budget-friendly, environmentally friendly IT products through top-notch refurbished electronics, primarily for the Indian market, serving customers nationwide via online platforms.

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Important Details at a Glance

Here are some crucial details about the Newjaisa Technologies IPO:

Grey Market Premium (GMP):

Market observers report that the company’s shares are trading at a premium of ₹5 in the grey market.

2. IPO Price Band:

The IPO price band for the book build issue is set at ₹44 to ₹47 per share.

3. IPO Dates: The IPO will open for subscription on September 25, 2023, and will close on September 27, 2023.

4. IPO Size: Newjaisa Technologies aims to raise ₹39.93 crore by issuing fresh 8,496,000 shares.

5. Lot Size: Investors can apply for shares in lots, with one lot comprising 3,000 company shares.

6. Investment Limit: A retail investor would need a minimum of ₹1.41 lakh (₹47 x 3,000) to apply for the IPO.

7. Allotment Date:The finalization of share allotment is expected around October 4, 2023.

8. Registrar:Bigshare Services Pvt Ltd has been appointed as the official registrar of the public offer.

9. Listing Exchange:The IPO is proposed for listing on NSE SME exchange.

10. Listing Date:The anticipated date for share listing is October 9, 2023.As Newjaisa Technologies embarks on its IPO journey, investors and market enthusiasts eagerly await its debut on the stock exchange, anticipating the company’s growth and performance in the market.

Asif Iqbal

Asif Iqbal is a seasoned news writer with a passion for delivering the latest updates to the public. Currently serving as the senior writer at VoM News, a prominent news outlet known for its comprehensive coverage of diverse topics, Asif has established himself as a reliable source of information. With a keen eye for detail and a knack for storytelling, he consistently provides readers with well-crafted articles that cover a wide range of news categories. His dedication to journalistic integrity and his commitment to staying ahead of the news curve make him an invaluable asset to Vom News, ensuring that readers are always well-informed on the issues that matter most. You can find his work and stay updated on current events by visiting vomnews.in.