Art Nirman has announced its SME IPO and the IPO is opened on 30-Sep for subscription.
Issue Details of Art Nirman IPO:
- IPO Open : 30th Sep to 7th Oct 2016
- Issue Price: Rs 25 per share
- Issue Size: Rs 5.01 crores
- Minimum Bid – 6000 shares
- Maximum Bid – 6000 shares
- Minimum Investment: Rs 150000
- Book Running Lead Managers : Hem Securities
- Registrar – Sharex Dynamic
- Listing: The shares will be listed on SME platform of NSE.
Art Nirman Ltd is Ahmedabad, Gujarat based real estate developer (Incorporated in 2011) involve in development of residential & commercial projects.
In 2013, company started construction of our first residential cum commercial project Shri Vishnudhara Cross Road in Ahmedabad and successfully completed in 2016. The project include of 5 towers containing total of 154 residential apartments of 2 and 3 BHK and 25 commercial shops, with a total built up area of 2,09,701 sq. ft. Company carry all the construction activities by subcontracting the project work to third party contractors.
Objective of the issue:
- Working Capital requirements;
- General Corporate Purposes;
- Issue Expenses.
Pros & Cons: Will be updated soon.
Financials:Will be updated soon.
Valuation as compared to its peers: Will be updated soon.
Should you invest: Will be updated soon.
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