Thu. Mar 28th, 2024
Upcoming IPO: Spectrum Talent Management 105 Cr IPO To Launch On June 9; Check Details HereImage: Freepik

Spectrum Talent Management is the next upcoming IPO which will open public subscriptions for its initial share sale worth approx Rs 105 crore, on June 9, per the details disseminated by the global talent acquisition company on June 6. The offer ends on June 14.

Shares will get listed on NSE Emerge, a platform for small and medium enterprises and startups. NSE Emerge is a new initiative to connect investors with startups and small-medium-size businesses for better capital access. In the case of NSE EMERGE, companies need board approval, not SEBI.

The price band has been set at Rs 169 to Rs 173 per share. Thus overall offer size reckons to “approximately Rs 105.14 crore at the upper price band”.

This initial share sale will be a book-building issue consisting of a fresh issue of 51,85,600 equity shares and an offer for sale (OFS) of 8,92,000 equity shares. Retail investors can invest by “bidding in multiples of 800 equity shares”.

The proceeds from the initial share sale will help meet working capital requirements, acquire businesses of similar or complementary areas, general corporate purposes, and square issue expenses.

“The company aims to capitalize on the growing demand for talent management services in an increasingly competitive business environment,” it added.

The book-running lead manager for the maiden share sale is Sarthi Capital Advisors.

 

 

By Harshita Sharma

I bring to you updates from business, policy and economy spectrum.

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