new Delhi. There is an outpouring in the country’s IPO market. One after the other, many companies are bringing their initial public offering ie IPO. Now in this episode, the IPO of Cool Caps Industries, a plastic bottle cap maker, is going to knock in the primary market next week on March 10, 2022. The issue will open on March 10 and close on March 15, 2022.
Price band not yet decided
Through this public issue of Rs 11.628 crore, Cool Caps Industries proposes to sell 30,60,000 equity shares under the book building process. The price band for this IPO is expected to be decided early next week.
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ample market opportunities
According to a report in Mint, the company’s promoter and chairman and MD Rajiv Goenka said, “We are in an emerging industry as the consumption and demand for safe and branded food and beverage products is increasing. Every bottled product requires a cap and closure, so there is ample opportunity for us in the market. Based on our long-term relationships with our customers and our potential, we are well positioned to capitalize on the growth opportunities.”
Plans to raise Rs 11.628 crore
The company plans to raise Rs 11.628 crore through a public offer. The company will use the proceeds of the IPO for its working capital requirement and for general corporate purposes. The Lead Manager for this IPO is Holani Consultants Pvt. Ltd. Is.
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The promoters of Cool Caps Industries include erstwhile Flexipack Pvt. Ltd., Mr. Rajiv Goenka and Mr. Vanshy Goenka. The company’s clients include Bisleri, Kingfisher, IRCTC, Patanjali, Clear etc., to whom it supplies plastic bottle caps.
Tags: business news in hindi, IPO
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