The Total Offer Size comprises of fresh issue of Equity Shares aggregating up to ₹ 3,290 million [₹ 329 crore] (The “Fresh Issue”) and an Offer for Sale up to 7,042,200 Equity Shares. (The “Offer for Sale”), (Together, “The Total Issue Size”).
The Price Band of the Offer has been fixed at ₹ 135 to ₹ 142 Per Equity Share. Bids can be made for a minimum of 100 Equity Shares and in multiples of 100 Equity Shares thereafter. (The “Price Band”).
The Anchor Investor Bidding Date shall be Monday, 26th January 2024. The Bid/Offer will open on Tuesday, 27th February 2024 for subscription and close on Thursday, 29th February 2024. (The “Bid / Offer Period”).
The Company proposes to utilize net proceeds from fresh issue of Equity Shares towards funding - (i) Part-financing the cost towards setting up of production/assembly lines at the planned manufacturing facility in Telangana amounting to ₹ 1457.72 million [₹ 145.72 crore]; (ii) Repayment/pre-payment, in part or full of certain borrowings of our Company amounting to ₹ 502.98 million [₹ 50.29 crore] ; (iii) Part-funding incremental working capital requirements amounting to ₹ 690 million [₹ 69 crore]; (iv) Investment in R&D and product development amounting to ₹ 400 million [₹ 40 crores]; and (v) balance amount for general corporate purposes. (The “Objects of the Offer”).
The Offer for Sale comprises up to 7,042,200 Equity Shares by NextWave Communications Private Limited. (The “Promoter Selling Shareholder”).
The Equity Shares offered through this Red Herring Prospectus of the Company dated February 20, 2024, filed with Registrar of Companies, Himachal Pradesh at Chandigarh (the “RHP”) and are proposed to be listed on the Stock Exchanges being BSE Limited and National Stock Exchange of India Limited.
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