Mumbai, Apr 15 (KNN) The equity shares of Gujarat-based textile company R&B Denims Limited are proposed to be listed on April 22 on the SME platform of the Bombay Stock Exchange with the face value of each equity share at Rs 10 each and the issue price also at Rs 10.
The company raised around Rs 3.71 crore through issue of an IPO of 37.10 lakh equity shares of face value of Rs 10 each for cash at par. The price band was fixed at Rs 10 per share.
The issue was open for subscription on March-28 and was closed on April-04, 2014.
The company intends to use the IPO proceeds to reduce overall indebtedness of the company by partial repayment of the outstanding term loan from Bank of India and to meet the issue expenses.
The company is mainly engaged in the manufacturing and selling of Denim Fabric.
Meanwhile, the equity shares of Kolkata based Autumn Builders Private Limited will be listed tomorrow to deal on the SME Institutional Trading Platform of Exchange (SME-ITP) in the list of IP Group of Securities.