amnagar-based Arvind and Company Shipping Agencies Ltd. (ACSAL) has unveiled its Initial Public Offering (IPO) on Thursday, marking a significant development in the logistics industry. The IPO is under the expert management of Beeline Capital Advisors Private Limited, with Skyline Financial Services Pvt. Ltd fulfilling the role of the registrar for this offering.
The company has set the issue price at ₹45 per share, with the aim of raising ₹14.74 crore by issuing 3,276,000 shares. These shares will be available in lots of 3,000, each lot priced at ₹1,35,000. The IPO window is open for trading until Monday, with trading hours spanning from 10 am to 5 pm for the duration of these three days.
The capital garnered from this IPO will be channeled towards several key areas, including capital expenditures, general corporate expenses, and public issue costs. Notably, a significant portion of the proceeds, valued at ₹182.05 lakh, will be allocated to support a strategic business expansion initiative.
ACSAL has established a solid presence in both the chartering and hospitality sectors, boasting notable properties such as “Hotel Millennium Plaza” and “Hotel 999.”
